Samsung Life Partners with Naver Cloud for Digital Financial Innovation

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance announced on the 29th that it has signed a Memorandum of Understanding (MOU) for digital financial cooperation with Naver Cloud, a cloud and artificial intelligence (AI) service specialist company.

They plan to promote broad cooperation including the utilization of cloud-based services, technology exchange to strengthen AI capabilities, and the creation of joint business models.

Samsung Life Insurance plans to use Naver Cloud Platform services as the infrastructure for developing new AI services. Naver Cloud provides over 180 cloud services, the largest scale in Korea, including the AI solution 'Clova.' Samsung Life Insurance expects to reduce the burden of infrastructure operation, management, and costs, enabling rapid solution development.

They will also review work efficiency improvements through Naver AI solutions. Documents and forms such as ID cards and medical expense receipts will be automatically classified, and document image information will be quickly and accurately read, leading to improvements across insurance processes such as insurance payment and contract review tasks.

Naver Cloud expects to secure innovation know-how in the financial sector through collaboration with Samsung Life Insurance and strengthen the competitiveness of financial specialized services.

They also plan to operate AI technology exchange programs in voice, language, and recommendation areas. Various authentication methods, including the facial recognition technology 'FaceSign,' will be introduced on direct, homepage, and mobile channels to enhance customer convenience. By combining and analyzing data from both companies, they will also provide marketing and services that meet diverse customer demands.

A Samsung Life Insurance official said, "We expect a synergy effect combining the know-how of the industry's top insurance company and big tech in the fields of finance, cloud, and AI services," adding, "We will provide differentiated customer services through innovation in digital technology."

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