Fubon Life and Fubon Insurance Pioneer Face-Recognition Applications, Use AI to Streamline Three Key Processes

Fubon Financial Holding subsidiaries Fubon Life Insurance and Fubon Insurance are integrating AI into three major insurance processes: applications, underwriting and claims. The initiative combines digital identity verification with generative AI, or Gen AI, to reduce manual review and document-processing times while making identity verification for online transactions more efficient and secure.

In the latest development, Fubon Insurance launched FacePass, an industry-first service that lets customers verify their identities through AI-powered facial recognition and complete an insurance application in as little as three minutes. Fubon Life is also using related technology to streamline underwriting and claims. Fubon Financial did not disclose the amount invested in the system, its formal launch date or the range of insurance products covered.