Gwangju Bank Opens Mobile Bancassurance Service

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank announced on the 23rd that it has launched a mobile bancassurance service.

Bancassurance is a comprehensive financial service provided through cooperation between banks and insurance companies. Accordingly, banks act as insurance agencies offering and selling insurance products, allowing customers to subscribe to insurance products at bank counters as well.

Previously, Gwangju Bank customers could only subscribe to insurance products by visiting branches during business hours. However, with the establishment of the new mobile bancassurance system, customers can now compare and subscribe to 15 insurance products?including savings insurance, variable insurance, and protection insurance?anytime and anywhere through the Gwangju Bank personal banking app (APP). The bank plans to continuously increase the number of available products going forward.

Within the product mall menu of the Gwangju Bank personal banking app (APP), customers can enter tabs categorized by product type?▲Accident ▲Cancer & Health ▲Dental ▲Pension Savings (Tax) ▲General Pension ▲Savings ▲Variable?to directly compare various products and subscribe to the ones they need.

In particular, except for variable insurance, all products offer a simple process that allows plan design without login.

To commemorate the launch of the mobile bancassurance service, Gwangju Bank will hold an event until August 31.

During the event period, the first 1,000 customers who subscribe to insurance with a monthly payment of 10,000 KRW or more, or a lump sum payment of 1,000,000 KRW or more via mobile will receive a Starbucks gifticon. Additionally, among the first 1,000 customers who subscribe to insurance with a monthly payment of 30,000 KRW or more, or a lump sum payment of 10,000,000 KRW or more, 100 will be selected by lottery to receive a Baskin-Robbins gifticon.

However, customers subscribing to variable insurance are excluded from the event.

Jang Jin-seop, head of the WM Business Division, said, “We strongly encourage you to use the convenient asset management service in line with the digital financial era through the mobile bancassurance service,” adding, “We will continue to do our best to provide differentiated asset management services that simultaneously meet customers’ needs and improve convenience.”

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