Real-time life insurance claims digitization
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About
Hanwha Life
Hanwha Life is one of South Korea’s largest life insurers, managing over $89 billion in assets and serving millions of policyholders.
Like many insurers, Hanwha faced a growing challenge: decades of medical claims stored in unstructured formats—PDFs, scans, handwritten notes—that limited insight and slowed operations. To stay ahead in a data-driven industry, Hanwha set out to transform over 10 years of historical medical data into structured, actionable intelligence—at scale, and with speed.
Problem
- Overwhelming Volume of Medical Data
- Hanwha had millions of medical records, insurance claims, and hospital bills stored in cluttered formats—handwritten documents, scanned PDFs, and structured hospital data. Without a scalable solution, extracting key insights for insurance product design was slow, expensive, and prone to errors.
- Missing Key Insights for Smarter Coverage
- Traditional underwriting models failed to capture real-world treatment costs, genetic testing trends, and recurring expenses for cancer patients. Without accurate data, Hanwha struggled to offer relevant and competitive cancer health insurance products.
- Competitive Pressure & Need for AI Powered Innovation
- With South Korea’s insurance landscape evolving, Hanwha needed an AI-driven approach to modernize operations, improve efficiency, and deliver data-backed coverage options to policyholders.
Technical challenges
Solution
Hanwha implemented Upstage AI’s Document Parsing to analyze 5 million insurance claims from the past 10 years. The AI extracted and structured key medical data, enabling Hanwha to:
- Classify & Analyze Medical Claims
- AI categorized medical expense statements from hospitals
- Identified high-cost and high-frequency procedures related to stomach, liver, and lung cancer
- Uncover Key Treatment Cost Patterns
- Discovered that chemotherapy and radiation therapy costs were a major financial burden for patients, averaging $5,696 per treatment cycle
- Recognized that genetic testing was an emerging cost driver for personalized cancer care
- Launch Data-Driven Cancer Coverage Products
- New health insurance offerings provided targeted financial protection for high-cost treatments, including:
- Outpatient chemotherapy and radiation therapy coverage
- Next-generation genetic testing coverage for personalized treatments
- Surgical coverage for high-frequency cancer procedures
- New health insurance offerings provided targeted financial protection for high-cost treatments, including:
By liberating the data and leveraging AI-powered insights, Hanwha could design policies based on real-world treatment costs, ensuring greater relevance and financial security for policyholders.
Results
Hanwha’s adoption of AI-powered document processing had a direct impact on policy holders, ensuring that cancer patients received financial protection tailored to real-world treatment costs. By leveraging AI insights, Hanwha was able to design policies that lowered out-of-pocket expenses and improved access to life-saving treatments.
- Reduced Financial Burden
- AI-backed insurance covered real-world treatment costs more effectively.
- Access to Personalized Cancer Care
- Genetic testing coverage enabled faster, more targeted treatments.
- Better Coverage for High-Cost Surgeries
- New policies helped patients afford lifesaving cancer procedures.
“Upstage delivers outstanding accuracy—achieving over 95% recognition across diverse document types.Unlike traditional OCR tools, Upstage continuously improves its model performance and offers scalable commercial solutions.We chose Upstage for its reliability and scalability, and we look forward to expanding our collaboration.”
— Gyeong-won Jeon, Data Analytics Lead, Hanwha Life
“With Upstage AI, we launched a specialized insurance plan covering the three most common cancers in Korea—stomach, liver, and lung.We’re now working to expand this approach to provide broader, more practical coverage for additional diseases.”
— Koo Chang-hee, Head of General Insurance, Hanwha Life
Business impact
For Hanwha, AI didn’t just enhance operational efficiency—it unlocked new revenue streams, improved underwriting accuracy, and strengthened the company’s market position. By automating manual data extraction and optimizing infrastructure costs, Hanwha was able to scale innovation while reducing overhead, giving them a competitive edge in AI-driven insurance.
- New Revenue Potential: Personalized policies attracted new customers and increased upsell opportunities for existing policyholders.
- 70% Reduction in Manual Processing: AI automated data extraction, allowing teams to focus on high-value tasks.
- 50% Lower Infrastructure Costs: AI’s efficiency reduced overhead and cut processing expenses in half.
- Stronger Market Position: Hanwha Life emerged as a leader in AI-driven insurance, differentiating from competitors.
What’s next for you?
If your operations are held back by manual processes or unstructured data, Upstage can help. Let’s explore how we can create a solution tailored to your needs. Get in touch today.
Try it yourself
See how Upstage’s Document Parse extracts insights from complex medical records with unmatched accuracy.
A Korean version of this case study is also available here.
Why Upstage
About
Hanwha Life
Hanwha Life is one of South Korea’s largest life insurers, managing over $89 billion in assets and serving millions of policyholders.
Like many insurers, Hanwha faced a growing challenge: decades of medical claims stored in unstructured formats—PDFs, scans, handwritten notes—that limited insight and slowed operations. To stay ahead in a data-driven industry, Hanwha set out to transform over 10 years of historical medical data into structured, actionable intelligence—at scale, and with speed.
Problem
- Overwhelming Volume of Medical Data
- Hanwha had millions of medical records, insurance claims, and hospital bills stored in cluttered formats—handwritten documents, scanned PDFs, and structured hospital data. Without a scalable solution, extracting key insights for insurance product design was slow, expensive, and prone to errors.
- Missing Key Insights for Smarter Coverage
- Traditional underwriting models failed to capture real-world treatment costs, genetic testing trends, and recurring expenses for cancer patients. Without accurate data, Hanwha struggled to offer relevant and competitive cancer health insurance products.
- Competitive Pressure & Need for AI Powered Innovation
- With South Korea’s insurance landscape evolving, Hanwha needed an AI-driven approach to modernize operations, improve efficiency, and deliver data-backed coverage options to policyholders.
Technical challenges
Solution
Hanwha implemented Upstage AI’s Document Parsing to analyze 5 million insurance claims from the past 10 years. The AI extracted and structured key medical data, enabling Hanwha to:
- Classify & Analyze Medical Claims
- AI categorized medical expense statements from hospitals
- Identified high-cost and high-frequency procedures related to stomach, liver, and lung cancer
- Uncover Key Treatment Cost Patterns
- Discovered that chemotherapy and radiation therapy costs were a major financial burden for patients, averaging $5,696 per treatment cycle
- Recognized that genetic testing was an emerging cost driver for personalized cancer care
- Launch Data-Driven Cancer Coverage Products
- New health insurance offerings provided targeted financial protection for high-cost treatments, including:
- Outpatient chemotherapy and radiation therapy coverage
- Next-generation genetic testing coverage for personalized treatments
- Surgical coverage for high-frequency cancer procedures
- New health insurance offerings provided targeted financial protection for high-cost treatments, including:
By liberating the data and leveraging AI-powered insights, Hanwha could design policies based on real-world treatment costs, ensuring greater relevance and financial security for policyholders.
Results
Hanwha’s adoption of AI-powered document processing had a direct impact on policy holders, ensuring that cancer patients received financial protection tailored to real-world treatment costs. By leveraging AI insights, Hanwha was able to design policies that lowered out-of-pocket expenses and improved access to life-saving treatments.
- Reduced Financial Burden
- AI-backed insurance covered real-world treatment costs more effectively.
- Access to Personalized Cancer Care
- Genetic testing coverage enabled faster, more targeted treatments.
- Better Coverage for High-Cost Surgeries
- New policies helped patients afford lifesaving cancer procedures.
“Upstage delivers outstanding accuracy—achieving over 95% recognition across diverse document types.Unlike traditional OCR tools, Upstage continuously improves its model performance and offers scalable commercial solutions.We chose Upstage for its reliability and scalability, and we look forward to expanding our collaboration.”
— Gyeong-won Jeon, Data Analytics Lead, Hanwha Life
“With Upstage AI, we launched a specialized insurance plan covering the three most common cancers in Korea—stomach, liver, and lung.We’re now working to expand this approach to provide broader, more practical coverage for additional diseases.”
— Koo Chang-hee, Head of General Insurance, Hanwha Life
Business impact
For Hanwha, AI didn’t just enhance operational efficiency—it unlocked new revenue streams, improved underwriting accuracy, and strengthened the company’s market position. By automating manual data extraction and optimizing infrastructure costs, Hanwha was able to scale innovation while reducing overhead, giving them a competitive edge in AI-driven insurance.
- New Revenue Potential: Personalized policies attracted new customers and increased upsell opportunities for existing policyholders.
- 70% Reduction in Manual Processing: AI automated data extraction, allowing teams to focus on high-value tasks.
- 50% Lower Infrastructure Costs: AI’s efficiency reduced overhead and cut processing expenses in half.
- Stronger Market Position: Hanwha Life emerged as a leader in AI-driven insurance, differentiating from competitors.
What’s next for you?
If your operations are held back by manual processes or unstructured data, Upstage can help. Let’s explore how we can create a solution tailored to your needs. Get in touch today.
Try it yourself
See how Upstage’s Document Parse extracts insights from complex medical records with unmatched accuracy.
A Korean version of this case study is also available here.
Why Upstage
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