China's first smart insurance risk-control laboratory has been launched, led by OneConnect a financial technology service company under the Ping An Group, along with China Insurance Institute.
The establishment of the platform is to develop intelligent risk-prevention mechanisms and ensure the steady and continuous growth of the insurance industry, reported the China News Service.
"The introduction of new technologies will prompt a tremendous change in the development of China's insurance industry," said Yao Qinghai, president of China Insurance Institute. "The profound combination of insurance innovation and technology will completely change the face of the insurance industry."
At the same time, with the development of science and technology, insurance fraud methods have become increasingly specialised, hidden and high-tech. By using modern science and technology, the lab aims to provide support for the analysis and early monitoring of fraud risks.