Hanwha Life's AI Services for Customer Communication and Design Newly Designated as Innovative Financial Services

Hanwha Life announced on September 18 that its "Artificial Intelligence (AI) Translation" and "Subscription Design AI Agent" services were newly designated as innovative financial services by the Financial Services Commission on September 17.

Innovative financial services are operated with the aim of enhancing consumer convenience and creating jobs related to financial services. New services or technologies in the financial industry are designated based on criteria such as innovation, consumer benefits, and consumer protection measures.

The newly selected "AI Translation" service was recognized for its innovation, as it helps break down language barriers between agents and customers, facilitates smooth communication, and enhances work efficiency and competitiveness through multilingual document translation.

As the number of foreign residents in Korea continues to rise, the service is expected to be widely used in consultations with foreign insurance planners (FPs). By providing insurance-related materials in various languages, foreign FPs can better understand insurance work and sales activities, thereby strengthening their sales capabilities and customer service skills. For foreign customers, receiving materials in their native language will improve their understanding of products and services, leading to higher satisfaction.

The "Subscription Design AI Agent" service incorporates AI into the insurance design process to deliver customized design results to customers quickly and accurately. It reduces the average insurance design time from more than nine minutes to less than one minute and significantly decreases the number of repeated designs, allowing FPs to focus more on consultations and strategy development. Customers receive optimized plans without excessive riders or unnecessary costs.

A Hanwha Life representative stated, "AI Translation and the Subscription Design AI Agent are innovations that originated from field needs and customer expectations," adding, "With the goal of launching these services in the second half of this year, we aim to simultaneously strengthen our core insurance business competitiveness and innovate the customer experience."

Meanwhile, Hanwha Life has invested in AI research for over ten years since 2014, continuously enhancing its AI capabilities across various business areas. The company plans to further expand AI-based solutions to lead the digital transformation of the insurance industry and evolve into a life solution partner that supports customers throughout their entire lives, beyond just insurance.

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