Kyobo Life Insurance Signs MOU with Seoul National University Business Research Institute... Accelerating MyData Business

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance announced on the 21st that it has signed a strategic partnership (MOU) with the Seoul National University Business Research Institute to discover innovative financial services based on the financial MyData business.

Kyobo Life Insurance, Kyobo Securities, Kyobo Book Centre, Kyobo Lifeplanet Insurance, and the Seoul National University Business Research Institute will strengthen their partnership related to the financial MyData business. They plan to share new technology trends related to MyData, explore future development directions, and jointly develop new services such as financial education services.

Kyobo Life Insurance aims to provide differentiated financial services through the financial MyData business and enhance the value of data utility across its business by developing high-quality, customized products such as asset management and health management services.

Through collaboration with affiliates, they will introduce financial education specialized services. They plan to discover services that can meet customer needs for financial knowledge and asset management, such as providing online financial education and recommending customized financial products.

At the end of last year, Kyobo Life Insurance established a dedicated Financial MyData Department through organizational restructuring, building related systems and security frameworks, thereby equipping company-wide data capabilities to promote the business.

A Kyobo Life Insurance official said, "We have formed strategic partnerships with affiliates and external organizations to respond quickly and flexibly to the MyData business, which is one axis of change in the financial industry," adding, "We will seek synergies by discovering services that combine financial and non-financial sectors."