PingAn unveils frontier technology for the financial, health-care sectors

PingAn Insurance (Group) Co, aiming to assist clients in the financial and health-care sectors, unveiled artificial intelligence, biometric identification and other cutting-edge technologies at the World Artificial Intelligence Conference in Shanghai.

OneConnect Financial Technology Co, an affiliate of PingAn, displayed its micro-expression identification technology, which can recognize happiness, anger, fear and four other major types of human emotions, and more than 90 percent of changes in facial expression.

The technology can enable bank staff to better determine if a potential customer is lying when applying for a loan. It can also speed up the loan-approval process and enhance a bank’s risk management capabilities, the company said.

OneConnect’s text and character recognition technology is designed to give people a better understanding of legal documents. A user has only to pick up a mobile phone and take a picture of the document. The text is then scanned and analyzed immediately.

The financial technology firm also showed how its AI robot could engage in multiple dialogues with customers and also help banks and other financial companies with operations such as customer service, new product promotion and loan repayment reminders.

These technologies are now being applied to areas such as insurance claims settlement, cross-border trade financing and smart contracts for making investments, OneConnect said.

Ping An Medical and Healthcare Management Co (Ping An HealthKonnect), another subsidiary of PingAn that focuses on medical reform and health-care ecosystems, launched a new generation of anti-fraud technology called Eagle Eye.

By adopting artificial intelligence technologies such as knowledge extraction, identification and integration, the company has established an exclusive “knowledge map” for the medical insurance sector.

Capable of capturing typical anti-fraud scenarios for medical insurance, the system can curb fraud, waste and abuse of national medical insurance funds. That could help the government reduce medical costs and expenses.

The system has been connected to several large cities to assist local medical insurance service providers with relevant risk management.

To ensure safe, effective and economical drug use for patients, Ping An HealthKonnect’s intelligent platform can review prescriptions to provide quality control and management for health supervision departments and can establish a platform for medical quality risk monitoring for medical institutions.

At present, the platform has gone into operation in more than 130 hospitals and has reviewed more than 65 million prescriptions a year.