Artificial intelligence threatens employment in insurance companies

The Japanese life insurance company, Fukoku Mutual Life Insurance has integrated artificial intelligence into its work chain. From now on, several procedures for processing insurance contracts are entrusted to a robot named "IBM Watson Explorer".

This software, which replaces 34 employees, allows a relief of 1.1 million USD of the payroll by including in it the annual maintenance costs, the investment of 1.7 million USD will pay for itself over a two-year period.

The experience of Fukoku Mutual Life Insurance is far from being an isolated case in Japan. Three other companies in the archipelago, Nippon Life Insurance, Dai-Ichi Life Insurance and Japan Post Insurance are using, or are about to use artificial intelligence in their work chain.

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