KB Insurance Designated as Innovative Financial Service for Online Simple Enrollment of Commercial Insurance

KB Insurance announced on the 28th that its 'Corporate Insurance Online Easy Enrollment Service,' which allows businesses to conveniently subscribe to corporate insurance online, has been designated as an innovative financial service under the Financial Regulatory Sandbox by the Financial Services Commission.

[Asia Economy Reporter Oh Hyung-gil] KB Insurance announced on the 28th that its 'Corporate Insurance Online Simple Subscription Service,' which allows business operators to easily subscribe to corporate insurance online, has been designated as an innovative financial service under the Financial Regulatory Sandbox by the Financial Services Commission.

By using the Corporate Insurance Online Simple Subscription Service, business operators as insurance contract holders can conclude insurance contracts through online identity verification of the affiliated responsible staff without submitting documents or offline handwritten signatures.

The time required to subscribe to insurance can be reduced from about 3 days to within 5 minutes. In addition, it has greatly improved the convenience of insurance subscription by enabling simple subscription to corporate insurance anytime and anywhere via mobile.

KB Insurance plans to provide online simple subscription services from November for six products: Elevator Accident Liability Insurance, Disaster Liability Insurance, Personal Information Protection Liability Insurance, Multi-use Facility Fire Liability Insurance, Academy Liability Insurance, and Small Business Flood Insurance with Actual Expense Compensation.

A KB Insurance official said, "Customers can subscribe to corporate insurance easily anytime and anywhere, reducing customer inconvenience and minimizing coverage gaps caused by non-subscription," adding, "We will take the lead in developing various innovative services so that customers can enjoy insurance services simply and easily in line with the spread of the digital ecosystem."

This content was produced with the assistance of AI translation services.