Samsung Life Insurance Signs First Financial Data Exchange Agreement with BankSalad

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 24th that it has signed a business agreement with the integrated asset management platform BankSalad for financial data exchange.

Samsung Life Insurance plans to actively develop customized products and services for customers by utilizing various accumulated financial information. Financial data will be provided to each other only for information for which third-party information provision consent has been obtained from customers.

If customers who have joined BankSalad agree to provide information, their subscription status information from other financial sectors such as banks, securities, and cards will be delivered to Samsung Life Insurance. Samsung Life Insurance will also provide information on subscribed products and insurance premiums to BankSalad after obtaining customer consent.

Through this exchange, Samsung Life Insurance expects to expand its customer base familiar with digital technology, innovate overall operations including differentiated coverage analysis consulting and the introduction of integrated asset management services, and provide significant support to insurance planners' sales activities.

To facilitate smooth data exchange, Samsung Life Insurance plans to form a working group centered on practitioners to collaborate on system development and ways to expand the scope of data utilization. It will introduce more specialized customer analysis and underwriting standards and provide customer services optimized for the digital era.

A Samsung Life Insurance official said, "This is the first data exchange agreement signed by Samsung Life Insurance," adding, "We will actively utilize the integration of insurance and other financial sector data to develop various customized products such as insurance and loans."

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