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Japanese insurers embrace chat AI to reduce workloads

Tokio Marine taps technology for Q&As, Sompo Japan will streamline coding

Japanese nonlife insurers have been searching for ways to reduce costs as natural disasters increase payouts. 

TOKYO -- Japan's largest nonlife insurance providers are looking to streamline workflows by adopting artificial intelligence chat programs as the industry looks to offset rising natural disaster payouts with cost-saving measures.

Tokio Marine & Nichido Fire Insurance is developing an AI system that will write draft answers for queries from policy holders and insurance agents that concern coverage and procedures. The system aims to go live in June.

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