Japan-based Dai-ichi Life Insurance Co. Ltd. and IBM have teamed to implement an IBM technology, Semantic Analysis Solution for Process Optimization. The partnership was forged through IBM’s “First-of-a-Kind” program in which IBM Research partners with a company to develop software based on a company’s needs.

“Smarter Insurance is about applying the strategic use of technology to reduce organizational and regional silos, as well as to simplify business and operating models,” said Mark Lewis, general manager, IBM’s Global Insurance Industry. “Dai-ichi Life dramatically re-engineered back-office payment processes using IBM’s semantic analysis technology to drive increased efficiencies, while reducing costs. This move will ensure the firm’s long-term sustainability, profitability and economic competitiveness.”

IBM said its solution increasing a company’s efficiency through a “holistic approach” by analyzing event logs unmask gaps in employee performance such as an employee who takes too long to answer a request. The company also said the analysis software is expected to save Dai-ichi “tens of millions of yen a year.”

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