Kyobo Life Customers Can Pay Insurance Premiums and Loan Principal via KakaoPay
Kyobo Life Insurance Introduces 'KakaoPay Bill' Service
Provides Insurance Premium and Loan Principal Payment Status, Immediate Payment Available
[Asia Economy Reporter Oh Hyung-gil] Going forward, Kyobo Life Insurance customers will be able to pay insurance premiums and loan principal and interest through KakaoPay.
On the 14th, Kyobo Life Insurance announced the introduction of the ‘KakaoPay Bill’ service. Customers can check the insurance premiums and loan principal and interest they need to pay via KakaoTalk notification messages and make immediate payments through KakaoPay.
Kyobo Life Insurance is the first in the industry to allow payments of loan principal and interest as well as insurance premiums through KakaoPay.
When Kyobo Life Insurance customers apply for the ‘KakaoPay Bill’ service, they can check their payment status for insurance premiums and loan principal and interest via KakaoTalk, and easily and conveniently make payments through simple authentication.
Previously, for unpaid or overdue cases, notifications were sent via text message, mail, or KakaoTalk, but payments were not immediately followed, which sometimes led to contract cancellations or loan delinquencies. Going forward, this service will enable sending bills, confirming unpaid amounts, and making payments all at once, which is expected to prevent contract cancellations or increases in principal and interest due to overdue payments in advance.
Kyobo Life Insurance customers can apply for the ‘KakaoPay Bill’ service through Kyobo Life Customer Plaza, FP branches, or the call center. The service covers maintenance insurance premiums, insurance policy loan principal and interest, and personal loan (credit and secured loans, etc.) principal and interest.
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A Kyobo Life Insurance official said, “With the introduction of KakaoPay Bill, customer convenience and accessibility for insurance premium payments and loan principal and interest repayments have been greatly enhanced,” adding, “This will minimize contract cancellations or loan delinquencies due to non-payment and further expand customer protection benefits.”
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