Hyundai Marine & Fire Insurance Digitizes Paper Documents at Nationwide Branches... Practicing Eco-Friendly Finance

Hyundai Marine & Fire Insurance announced on the 15th that it has established a large-scale distributed Trusted Scan system at its branches nationwide, enhancing carbon reduction and work efficiency.

Trusted Scan refers to the digitization of paper documents through an electronic information system. Unlike regular scanning, documents digitized through Trusted Scan are recognized as having the same legal effect as the original paper documents.

Hyundai Marine & Fire Insurance Building Exterior View.

Until now, Hyundai Marine & Fire Insurance used a centralized Trusted Scan system, where paper documents were collectively sent to a digitization center for scanning. This time, it has become the first in the financial sector to establish a distributed Trusted Scan system that allows all sales branches nationwide to scan documents immediately on-site and store them in an authorized electronic document storage center.

As a result, costs related to transporting paper documents and operating expenses for batch processing have been reduced. According to a carbon reduction effect analysis study by the Korea Internet & Security Agency (KISA) on the authorized electronic document system, by digitizing approximately 15.38 million sheets of paper annually generated from about 340 branches nationwide immediately on-site, it is expected to achieve an annual carbon reduction effect of approximately 152.45 tCO2e (tons of carbon dioxide equivalent).

A Hyundai Marine & Fire Insurance official stated, “We expect to improve work efficiency and reduce paper documents through the establishment of this distributed Trusted Scan system,” adding, “We will continue to strive for eco-friendly finance in the future.”