Prudential Vietnam has officially launched a new generation of AI’s optical character recognition (OCR) technology into the process of appraising and approving online insurance claims. — Photo vnbusiness.vn

 

As Artificial Intelligence (AI) has become a strategic driver that shapes the global financial industry, Vietnamese businesses have increased its use across their operations.

 

Finance expert Nguyễn Trí Hiếu told Việt Nam News that AI had been increasingly applied in Việt Nam’s financial fields, including banking, insurance, payment, credit and asset management.

 

“Applying AI in the finance and banking industry is a launch pad to help businesses expand their scale, optimise operations and improve customer experience,” Hiếu said.

 

Hiếu added that integrated AI solutions could also help solve specific problems of the banking industry such as financial risk management, data security and compliance with legal regulations.

 

According to CEO of FPT Digital Trần Huy Bảo Giang, AI is not just a technology trend, but has become a strategic driving force shaping the global financial industry, including that in Việt Nam. AI is a revolution in thinking, where data is no longer a static asset but a source of energy that drives continuous creativity and innovation.

 

Modern financial services have gone beyond basic transactions to become intelligent ecosystems personalised by AI. Banks and insurance companies do not simply provide products but also build comprehensive experiences for customers. AI is not a tool, but an indispensable presence in the customer strategy of every financial institution.

 

With the ability to analyse data in real time, AI helps banks predict market trends, control credit risks and optimise investment portfolios. This not only improves business efficiency but also creates a unique competitive advantage, especially in the context of increasingly deep globalisation.

 

"The future of the financial industry will be led by businesses that know how to exploit AI to continuously innovate and adapt quickly," Giang said.

 

Realising this, Vietnamese businesses have promoted the application of AI in their operations.

 

Director of Information Technology at the FE Credit Company Nguyễn Hiền Trung said that his company had been applying AI to the customer care process since 2020. AI-based smart Chatbot had become an important part of the company’s customer care process as it is capable of automatically answering common customer questions, supporting the processing of basic requests and guiding customers to necessary services or information. In 2024 alone, Chatbot at FE Credit has supported more than 130,000 users, with more than 200,000 chats per month.

 

FE Credit also continued to successfully test Voicebot technology last year, applied to the implementation of outbound calling operations to support after-sales customer care. Voicebot’s support success rate ranges from 60 per cent to 65 per cent, which significantly reduces the load on human resources.

 

According to Trung, FE Credit is also in the process of researching AI Agent, which is ​​an advanced conversational AI platform. AI Agent is designed to provide smooth and natural conversations across multiple communication channels, while improving business efficiency and credit processing.

 

In a similar move, according to a representative of Prudential Vietnam, the company has officially launched a new generation of AI’s optical character recognition (OCR) technology, to be used in the process of appraising and approving online insurance claims. This technology helps the payment decision process take only a few minutes, thereby bringing a faster and more convenient experience to customers.

 

During the trial period from October 19 to November 5, 2024, the OCR supported the settlement of more than 50 per cent of the total number of insurance benefit claims submitted online. Of which, there were 243 claims receiving payment results within just three minutes and 1,636 claims receiving results within 30 minutes from the time the customers successfully submitted the claims, according to Prudential Vietnam. — BIZHUB/ VNS

 

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