DGB Life "1 in 2 Customers Enroll via Mobile Subscription"
47% Mobile Subscription Ratio Among New Customers Joined in February
[Asia Economy Reporter Ki Ha-young] DGB Life Insurance announced on the 24th that, after analyzing the subscription channels of customers throughout February, nearly half of the new customers?47%?subscribed via mobile applications.
This is interpreted as the effect of DGB Life Insurance's digital enhancement strategy manifesting in the sales field. DGB Life Insurance launched its mobile platform in July 2018. The platform consists of the agent app M-Smart, a customer mobile app that allows loan applications and insurance claims, an electronic document transmission service, and a complete insurance sales monitoring service. Notably, it was the first in the industry to introduce electronic subscription services, previously only available on tablet PCs, on a smartphone basis, increasing usability and efficiency.
By using M-Smart, the insurance subscription process can be completed in a one-stop manner on mobile devices. With no restrictions on time and place and simplified procedures, it is gaining popularity among agents. The UX design, which considers user convenience, has led to a rapid increase in usage rates within a short period.
As part of its digitalization efforts, DGB Life Insurance is also working on system improvements to enhance work efficiency by fully digitizing document forms and introducing electronic signature methods through bio-authentication.
The company is also putting great effort into complete sales and security maintenance. Corporate contracts or virtual account deposits are not allowed, and in the event of death, only legal heirs can be designated as beneficiaries. Additionally, only contracts where the policyholder is the insured are permitted, identity verification can only be done via the policyholder’s own mobile phone, and all personal information is encrypted.
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A DGB Life Insurance official stated, "Focusing on digital enhancement, we opened the mobile platform and are continuously reflecting improvement requests from the sales field to advance the system. We are preparing to open a digital channel in the second half of the year that will allow customers to easily and conveniently subscribe to insurance directly online."
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