KB Insurance Expands Scope with Big Data-Based Advisory Service

KB Insurance announced on the 8th that it has become the first in the insurance industry to obtain auxiliary business qualifications for the 'Big Data Consulting and Sales Service'.

[Asia Economy Reporter Oh Hyung-gil] KB Insurance announced on the 8th that it has obtained the subsidiary business qualification for the 'Big Data Consulting and Sales Service,' the first in the insurance industry.

The Big Data Consulting and Sales Service refers to consulting services and related data provision based on the recently revised "Act on the Use and Protection of Credit Information," which combines customer credit information held by the company with external data in the form of de-identified information (pseudonymous information, anonymous information, statistical information, etc.). Through big data analysis, it provides consulting services such as commercial area analysis by industry and marketing strategy establishment.

KB Insurance can now actively perform big data analysis converged with the Credit Information Agency and the Financial Security Institute, which have been designated as specialized support institutions for data combination.

In particular, the company plans to jointly promote the healthcare business, which provides comprehensive health management services based on customer health information, and the MyData business, which collects scattered financial transaction information of customers in bulk to provide services that allow financial consumers to view their information at a glance.

A KB Insurance official said, "The combination of financial information and health information has made it possible to create differentiated customer services that integrate finance and health," adding, "We will accelerate strategic investments and execution to expand data-related businesses."

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