Kyobo Life Insurance Launches Simplified Real-Expense Claims Process... "Receive Insurance Payments Without Documents"

Kyobo Life Insurance announced on the 21st that it has established a system that allows subscribers to claim indemnity insurance without any paperwork.

Last year, the National Assembly plenary session passed a partial amendment to the Insurance Business Act, which includes the simplification of indemnity insurance claims. Although the indemnity insurance claim simplification system will be implemented starting this October, Kyobo Life plans to launch the service proactively ahead of schedule.

The biggest feature of this service is that indemnity insurance subscribers no longer need to visit hospitals to obtain related documents, eliminating the inconvenience. Until now, to claim indemnity insurance benefits, subscribers had to receive paper documents one by one from hospitals after treatment and submit them to the insurance company.

By using Kyobo Life’s claim simplification service, indemnity insurance benefits can be claimed easily without submitting documents through the mobile application and website. The affiliated hospitals number 4,559 nationwide, and the network will be expanded sequentially.

Kyobo Life Insurance Headquarters.

In the app, after logging in, users select the claim simplification service, and by simply searching for affiliated hospitals, consenting to information inquiry, and entering basic information and claim details, the indemnity insurance claim process is completed. Thereafter, Kyobo Life receives related information from affiliated institutions and operates the review and payment procedures.

The service linking the review of fixed-amount compensation benefits besides indemnity insurance also stands out. Kyobo Life’s claim simplification service allows simultaneous claims for fixed insurance benefits such as diagnosis, hospitalization, and surgery when related documents are attached and sent.

A Kyobo Life official stated, “With the introduction of the indemnity insurance claim simplification service, the insurance claim processing has been streamlined by reducing reception tasks, enabling faster payment of insurance benefits,” and added, “We will continue to accelerate innovations to support customers in overcoming adversities.”

Following the launch of the bulk insurance claim service last year, Kyobo Life has continued efforts to maximize customer convenience with services such as the pre-subscription inquiry service (K-PASS) and an integrated app.