Samsung Fire & Marine Insurance, Industry's First to Introduce Fingerprint Authentication Electronic Signature

Samsung Fire & Marine Insurance announced on the 21st that it has introduced a 'Bio Fingerprint Authentication Electronic Signature' that allows contract signing by capturing the customer's fingerprint.

[Asia Economy Reporter Oh Hyung-gil] Samsung Fire & Marine Insurance announced on the 21st that it has introduced a 'bio fingerprint authentication electronic signature' that allows contract conclusion by capturing the customer's fingerprint.

Previously, electronic signatures could be used to conclude insurance contracts when the policyholder and the insured were the same person. However, for death coverage contracts where the policyholder and the insured are different, signatures had to be obtained on paper application forms, causing inconvenience.

With the introduction of fingerprint authentication electronic signatures, the verification process is completed by capturing the fingerprint on the insured's smartphone after the electronic signature.

Fingerprint information is encrypted and securely stored in a distributed manner with the Korea Financial Telecommunications & Clearings Institute, ensuring thorough protection. Additionally, no fingerprint information or captured images remain on the customer's phone after capturing, eliminating the risk of information leakage.

Samsung Fire & Marine Insurance has also expanded the scope of electronic signatures. Electronic signatures can now be used not only for new insurance contracts but also for contract modifications.

A Samsung Fire & Marine Insurance official stated, "We have introduced a new authentication method to provide convenience to both customers and sales sites in line with the digital era," adding, "We will continue to strive to provide a better customer experience."

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