Kyobo Life Insurance Signs Business Agreement with Amazon Web Services to "Strengthen Digital Transformation"

On the afternoon of the 9th, at the Kyobo Life Insurance headquarters in Gwanghwamun, Seoul, Kyobo Life Insurance CEO Jeon Jeong-beom (left) and Phil Davis, Asia Pacific and Japan (APJ) representative of Amazon Web Services (AWS), are posing for a commemorative photo at the strategic agreement ceremony for digital transformation between Kyobo Life Insurance and AWS.

[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance has entered into a strategic partnership with Amazon Web Services (AWS), a global leader in cloud computing.

On the 10th, Kyobo Life Insurance announced that it signed a Strategic Collaboration Agreement with AWS at its headquarters in Gwanghwamun, Seoul, to promote digital transformation.

Kyobo Life plans to further activate the use of AWS cloud services in its future digital services and platforms. To accelerate its digital innovation, Kyobo Life intends to actively consider adopting AWS's advanced services, including data analytics and machine learning.

In February, Kyobo Life became the first in the insurance industry to launch the financial MyData service 'Peach.' Through the adoption and expansion of cloud-based standard APIs for financial MyData, it is being recognized for leading a paradigm shift toward a new digital environment in the domestic insurance sector.

Last year, Kyobo Life migrated key workloads such as the big data system 'Ocean' for employees and the AI-based insurance underwriting service 'Baro' to the AWS cloud. This migration has enabled efficient and stable customer service through flexible infrastructure expansion without server or system constraints.

Going forward, Kyobo Life plans to fully utilize AWS's global infrastructure without limitations to expand new businesses and enhance its global business capabilities.

Pyun Jung-bum, CEO of Kyobo Life Insurance, stated, “We will solidify our position as a leader in the domestic insurance industry based on strong competitiveness grounded in organizational digital capabilities. Through the transition to the cloud provided by AWS, we will transform into a digital environment that is adaptable to change and expansion, quickly incorporating new ideas to further drive genuine customer experience innovation.”

Phil Davis, Head of AWS Asia Pacific and Japan, said, “We are honored to collaborate with Kyobo Life Insurance, which is accelerating its digital innovation journey. AWS will support Kyobo Life in developing innovative new products and services that meet customer demands.”

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