SEOUL, South Korea, Oct. 14, 2020 /PRNewswire/ — A recent pilot project conducted by a South Korean medical AI company, Lunit, and one of the largest Taiwanese insurance companies, Cathay Life Insurance, reveals that AI can help the current underwriting process to be more accurate and efficient.
The insurance company, which reviews 30,000 chest x-ray images accepted annually as part of the requirements of new insurance contracts, deployed Lunit INSIGHT CXR to assess the impact of AI in the review process. Lunit INSIGHT CXR is an AI software developed by Lunit which detects abnormal findings via chest x-ray images.
For the assessment, nearly 200 chest x-ray images were used as samples to verify the performance of AI. These cases were internally reviewed by Cathay Life’s doctors to validate the accuracy of the algorithm. The results showed that the AI’s detection rate for positive cases (sensitivity) was 83% and