LG CNS announced on the 7th that it will begin a next-generation system construction project worth 130 billion won with Mirae Asset Life Insurance.
The two companies recently signed a memorandum of understanding (MOU) at the Mirae Asset Life Insurance headquarters in Yeouido, Seoul, and the project will be conducted over approximately two years. Through this project, LG CNS plans to build a generative artificial intelligence (AI) platform, implement a multi-hybrid cloud environment, and enhance the systems across all insurance business areas.
Mirae Asset Life Insurance will establish an internal knowledge search environment utilizing a large language model (LLM) through its generative AI platform. This will allow employees to quickly access the information they need, and in the future, there are plans to incorporate AI technology into customer consultations and voice bots.
In terms of cloud infrastructure, a multi-hybrid cloud environment that combines various public clouds such as Amazon Web Services (AWS), Microsoft, and Google Cloud with a private cloud will be established. This will enable data security and flexible business operations.
The overall systems for product development, contract management, deposits and withdrawals, accounting, and sales management will also be restructured. In particular, a system will be introduced that allows for the rapid launch of customer-tailored products reflecting the disease classification system (KCD), along with the standardization and simplification of the contract management process.
The two companies plan to establish a cooperative research and development (R&D) framework through this agreement, focusing on a regular consultation body to continuously discover joint business models in the field of AI transformation (AX).
Hyun Shin-kyun, president of LG CNS, said, "We will actively support Mirae Asset Life Insurance to leap to a next-generation system based on AI, utilizing LG CNS's financial IT capabilities."