Chinese insurer uses facial recognition for attendance
06 April 2018 14:28 GMT

Ping An Insurance, mainland China’s second largest insurer by premiums, is using face and voice recognition systems to combat fraud by its staff

All company agents now have to show their face to sign in, so they can make sure all of our 1.4 million agents go to work and attend the briefing, reports the South China Morning Post.

“Before we introduced facial recognition, some agents who didn’t attend the morning briefing would ask their friends to sign them in using their staff card. Now the agents have to show their face to sign in, so we can make sure all of our 1.4 million agents go to work and attend the briefing,” said Jessica Tan Sin-yin, deputy group chief executive.

Ping An’s face and voice recognition systems have accuracy rates of 99.8 per cent and 99.7 per cent respectively, she said.

The insurer has been making a big push in technology and plans to invest 100 billion yuan (US$15.86 billion) over the next 10 years in financial and medical technology, Tan said. It has already invested 50 billion yuan in the last decade.

“Face and voice recognition can help prevent fraud. In the US and other markets, there are many cases of identity theft where people steal someone else’s identity to borrow loans and then disappear. These thefts lead to bad debts,” Tan said.

“Using facial or voice recognitions we can identify our customers and prevent identify theft. It also helps us to identify those who have bad credit records.”

For customers who worry about privacy issues, they always have the option of using a password to access to their accounts.

“But for those customers who keep forgetting their password, facial and voice recognitions are making it much easier for them to access their bank or insurance accounts,” she said.