China Pacific Insurance Company Reduces Life Insurance Fraud With Voice Analytics From Nemesysco

PR Newswire

KADIMA, Israel, June 30, 2020 /PRNewswire/ -- Nemesysco, a leading provider of voice analytics technologies and solutions for genuine emotion detection, today announced that the company has deployed a voice analytics solution together with its local integration partner Softtek for the China Pacific Insurance Company (CPIC).

CPIC is one of the largest insurance providers in China with over 139 million customers and nearly 108,000 employees. CPIC is headquartered in Shanghai and is a Fortune Global 500 company.

CPIC is initially applying Nemesysco's LVA7 voice analytics solution in its life insurance business unit. LVA7 has been embedded into the claims processing solution provided to CPIC by Softtek.

CPIC field agents and special investigators are using LVA7 during the claims process to identify potential risks and reduce fraudulent claims. Based on the emotional responses detected by LVA7 in the voices of policy beneficiaries, field agents and special investigators can confirm the validity of claims for faster processing and identify questionable claims that require further investigation.

"The results of this initial application of voice analytics in our life insurance unit are positive," said Mr. Zhao, AI Language Technology Product Manager at CPIC Life Insurance. "Nemesysco and its emotional detection analysis have reduced the revenue lost to unqualified and fraudulent life insurance claims."

Over the next two to three years, CPIC is planning to expand its usage of voice analytics and rollout LVA7 for risk assessment and fraud detection in additional insurance types and business units.

"CPIC is our first commercial customer in China and joins our rapidly expanding customer base across Asia," explained Amir Liberman, CEO of Nemesysco. "CPIC is a nice example of how an insurance company can leverage our voice analytics technology and emotion detection solution to improve its claims process and ensure that legitimate claims are processed efficiently with minimal inconvenience to clients."

Layered Voice Analytics (LVA™) is the core technology embedded in Nemesysco's solutions and is designed to reveal the genuine emotional state of a person. LVA detects and measures uncontrolled psychophysiological changes to a person's voice during open conversations. The technology is indifferent to language or the content of speech and can detect and measure a range of emotions, including excitement, stress, uncertainty, anger, happiness, hesitation, embarrassment and more.

The project was initiated and facilitated by Sheng BDO, an Israeli-Chinese subsidiary of BDO accounting firm.

About Nemesysco

Nemesysco is a leading provider voice analytics technologies and solutions for genuine emotion detection. The company's patented Layered Voice Analysis (LVA™) reveals and measures the genuine emotions of a speaker during voice-based communications. Nemesysco's technology has applications for call centers, insurance and financial services, human resources, mental health and more. For more information, please visit www.nemesysco.com.

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