KT-Shinhan EZ Insurance, Joint Promotion of Digital Insurance Business

Agreement for Joint Promotion of Insurance Digital Transformation Project

KT will jointly promote digital insurance-related business and DX in the insurance business sector with Shinhan EZ Insurance. Enterprise Division Head Sujeong Shin of KT (left) and CEO Byungkwan Kang of Shinhan EZ Insurance are posing for a commemorative photo after signing the DX MOU in the insurance business sector on the 23rd at the KT Songpa Building in Songpa-gu, Seoul. Photo by KT

[Asia Economy Reporter Minyoung Cha] KT announced on the 24th that it signed a business agreement with Shinhan EZ Insurance (Shinhan EZ Sonbo) on the 23rd to jointly promote digital transformation (DX) in the insurance sector.

Shinhan EZ Sonbo is an insurance subsidiary launched last month after Shinhan Financial Group acquired BNP Paribas Cardif Insurance last year and renamed it.

Through this agreement, KT and Shinhan EZ Sonbo have agreed to collaborate on building insurance DX solutions and platforms, providing DX solutions and reference sites across insurance processes, discovering cooperative models, and jointly pursuing business ventures to enter the financial sector.

Additionally, they will jointly promote data-driven business cooperation, co-plan telecommunication-finance convergence products, and discover insurtech (a compound of insurance and technology) companies and solutions. KT will also support information and communication technology (ICT) capabilities such as artificial intelligence (AI), big data, and cloud computing.

Shin Sujeong, head of KT's Enterprise Division, said, "DX in the financial industry, including insurance, is rapidly spreading," adding, "KT will lead collaboration in AI and big data with Shinhan EZ Sonbo and carry out various projects that can contribute to the development of Korea's industry."

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