Heungkuk Life Insurance to Build Next-Generation Digital Transformation System by 2023

Heungkuk Life Insurance announced on the 17th that it will build a next-generation system by 2023.

[Asia Economy Reporter Oh Hyung-gil] Heungkuk Life Insurance announced on the 17th that it will establish a next-generation system by 2023.

The next-generation system project is aimed at overhauling and advancing the entire existing insurance operations to efficiently respond to the digital transformation of the insurance and financial environment and the needs of customers in the non-face-to-face era.

First, it will begin the overhaul and advancement of the aging core system. The plan is to simplify core insurance tasks such as product development and insurance contract review, and maximize the efficiency of overall operations including management and financial accounting.

In particular, by utilizing Hanwha Systems' insurance core solution 'WINE,' it is expected that Heungkuk Life Insurance will be able to quickly develop trend-customized products unique to the company.

Additionally, channel advancement will be carried out to quickly respond to changes in customer needs. For sales channels, the subscription design and application process will be simplified, and for customer channels, innovative digital-based customer experiences and improved consultation efficiency will be promoted.

A Heungkuk Life Insurance official said, "This will be an opportunity to simultaneously capture three goals in sales, service, and digital aspects: strengthening market competitiveness through business process innovation, enhancing customer service, and implementing digital-based technology."

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