Hanwha Life Insurance, Subscription Automation Solution Patent "From Design to Subscription in Just 5 Minutes"

Key figures behind Hanwha Life's subscription automation solution patent application. (From left) Kim Dohyung, Manager of Sales Promotion Team at Hanwha Life; Kim Changwan, Team Leader of IT Operations Team; Shin Jongyeon, Team Leader of Sales Promotion Team; Chae Kyunghoon, Manager of IT Operations Team. (Photo by Hanwha Life)

[Asia Economy Reporter Changhwan Lee] Hanwha Life has become the first in the industry to automate the insurance new contract process using robotic technology, strengthening its sales competitiveness in the corporate agency (GA) market.

Hanwha Life announced on the 25th that it has obtained a BM patent from the Korean Intellectual Property Office for its 'Subscription Automation Solution,' a technology that automates the insurance planning and subscription work process.

A BM (Business Method) patent is granted when IT technology and business ideas are combined to develop innovative management or marketing techniques. Once patented, the inventor holds exclusive and exclusive rights to the invention patent for the next 20 years.

The strategy with this patented technology is to enhance the convenience of GA-affiliated planners and expand sales of its own products.

The Subscription Automation Solution is a system where, upon entering customer information, a design bot assists planners from subscription planning to subscription, increasing the convenience of subscription tasks. The exact name of the patent is "Electronic Device and Method for Providing Insurance Design Information."

The company explained that the background for developing this patent lies in addressing the difficulties faced by GA-affiliated planners. Due to the nature of the GA market handling products from various companies, the product design and subscription processes differ by insurance company, making it difficult to grasp product details precisely. Hanwha Life reflected these field voices in the technology development process.

The biggest feature of this system is that the time required to conclude a new contract is reduced by up to about 90%. Previously, GA-affiliated planners took up to 60 minutes to process from subscription to application, but after implementation, the subscription process is drastically shortened to just 5 minutes.

Additionally, complex processes such as product selection, information input, and plan selection have been simplified to be handled on a single smartphone screen.

In particular, implementing the design bot in a smartphone environment to enhance accessibility and convenience is another key feature. Previously, reliance on 'PC or tablet' limited accessibility and usability. Planners often had to return to the branch after consultations to handle product design and subscription processing. But now, new contracts can be processed anytime and anywhere through 'mobile in your hand.'

Hanwha Life plans to provide the Subscription Automation Solution technology through the existing mobile sales support system called 'Visible GA World,' currently used by GA planners.

Lee Kyungseop, Head of Sales Promotion Team at Hanwha Life, said, "Through the Subscription Automation Solution patent, we will be able to provide better work efficiency and convenience to GA-affiliated planners," adding, "Hanwha Life will continue to strive to build a convenient sales environment for field planners."

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