Kyobo Life Insurance Introduces Financial Sector's First 'PASS Authentication' Call Center

Easy Authentication Available for Call Center Credit Loan Applications with Just a Mobile Phone

[Asia Economy Reporter Ki Ha-young] Kyobo Life Insurance announced on the 1st that it has introduced a service that allows identity verification through the PASS application (app) during loan consultations via its call center, becoming the first in the financial sector to do so.

The service applies to unsecured loans processed through Kyobo Life Insurance's call center, enabling customers to verify their identity immediately while speaking with a consultant.

Typically, unsecured loans via call centers proceed in the order of consultation application, customer identity verification, loan amount and interest rate guidance, identity verification, loan application and contract, and loan disbursement. Previously, if customers had not pre-issued or had lost their automatic response system (ARS) password during the identity verification process, they had to visit the customer plaza in person, causing inconvenience and dissatisfaction. In fact, nearly 36% of unsecured loan customers via the call center visited the customer plaza.

However, now anyone subscribed to one of the three major telecom companies can issue a PASS certificate valid for three years and use it for identity verification in call center unsecured loans. The PASS certificate is highly regarded for its reliability, versatility, safety, and convenience, with particularly high usage rates among middle-aged and older adults in electronic government services such as Government24 and the National Tax Service Hometax.

Earlier, in September last year, Kyobo Life Insurance improved customer accessibility and convenience by being the first in the insurance industry to offer unsecured loans and insurance policy loans on the financial platform KakaoPay.

A Kyobo Life Insurance official said, "In line with the rapid digital environment changes across the financial sector, we expect to enhance the competitiveness of non-face-to-face channels by introducing mobile identity verification methods to the call center."

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