Toss Partners with Samsung Life Insurance to Accelerate Expansion of Insurance Platform

Expectations for Expansion of Toss Insurance Partners within the Insurance Industry

[Asia Economy Reporter Kiho Sung] Viva Republica, the operator of the mobile financial platform Toss, announced on the 16th that it has formed a business partnership with Samsung Life Insurance, the largest life insurance company in Korea, to expand its insurance agent platform.

Toss Insurance Partner is a sales support app exclusively for insurance agents operated by Toss, providing services that allow agents to manage consultations and contracts with customers who have requested insurance consultations through Toss. Currently, agents using Toss Insurance Partner connect with an average of five new customers per month.

Through the partnership with Samsung Life Insurance, Toss aims to expand the influence of Toss Insurance Partner within the insurance industry, while Samsung Life Insurance expects to broaden its contact points with 18 million Toss users and insurance agents through Toss Insurance Partner, anticipating a win-win effect for both companies.

Since the beginning of this year, Toss and Samsung Life Insurance have conducted a quiz event advertisement over three weeks targeting agents who joined Toss Insurance Partner. The quiz promoted Samsung Life Insurance products or encouraged cross-selling support to other insurance agencies (GA) or exclusive agents of non-life insurance who joined Toss Insurance Partner. More than 80% of the targeted agents, totaling over 20,000 participants, took part in the quiz, demonstrating excellent advertising effectiveness.

Jinwoo Park, Head of Business Development at Toss, said, “As the importance of non-face-to-face channels grows in the insurance market, Toss Insurance Partner is developing into a platform that creates synergy effects with traditional insurers including Samsung Life Insurance.”

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