Insurance firm has data on 880 million Chinese users
A Chinese insurance company claims to have collected data from 880 million users in China. Ping An Insurance Company said it can use five technologies - biological recognition, big data and risk management, blockchain, artificial intelligence, and cloud technology - to assess customer risk profiles, which could help in product matching. The firm also intends to research micro-expression recognition, which could allow it to better assess a customer's honesty.
Insurance company says investors who inflate income can be identified through new technologies

(File photo of Sina.com.cn)

Investors who inflate their income can be identified through new technologies, said Yang Jun, deputy chief risk officer of the Ping An Insurance (Group) Company of China, Ltd., at a conference on Sept. 20, Thepaper.cn reported.

A senior executive of the company said that they can help financial institutions identify eligible investors using five technologies: biological recognition, big data and risk management, block chain, artificial intelligence, and cloud technology, as they have obtained data on 880 million Chinese users so far.

The new technologies can help match product risks with investors’ risk tolerance, Yang noted.

Chief product officer of the company, Ou Haiying, explained that the company can judge the credit line of customers based on collected data ranging from their ages, income levels, genders, and telephone expenses.

He added that the company is currently focused on research into intelligent cognition. Since biological recognition technology like fingerprint identification and facial recognition is likely to be broken, the company will try to integrate voiceprint recognition with facial recognition and identity information.

As for the next step, the company will be committed to doing research on micro expressions as a way to help financial institutions judge customers’ honesty. And in the future, it will be likely delve into biometric recognition technologies like vein recognition and iris recognition, according to Ou.