Hanwha Life Insurance is rolling out Microsoft's generative AI solution M365 Copilot across its workforce as it seeks to accelerate AI-driven operational transformation.
The South Korean life insurer said on 13 August that it will introduce the solution to all 2,728 employees, following a period of training and preparation that began in May.
The company has identified 58 AI-driven initiatives aimed at improving work processes, with implementation beginning this month. The initiatives were identified by employees across different business functions and will be developed in collaboration with the IT department.
The rollout follows regulatory changes earlier this year that eased restrictions on the use of generative AI by financial companies in South Korea.
Hanwha Life has also been developing AI capabilities for core insurance functions, including product development, risk-rate calculations, and the management of contractual service margins (CSM) and profitability.
The insurer established a dedicated organisation in July to further develop and commercialise these AI models following testing.
It has also sought to expand its internal AI talent pool. Two company-wide coding competitions and hackathons held in April and July attracted 285 employees, including 190 from non-development functions and 95 from IT.
Hanwha Life said employees from investment, product and corporate support functions are participating alongside IT personnel in an AX project team focused on developing AI-based improvements.
The insurer said it plans to continue expanding its internal AI talent pool and implementing AI initiatives across the business.