Lotte Insurance Registers 10 Patents for Core Features of Sales Platform 'Wonder'

Lotte Insurance announced on the 10th that it has filed and completed registration for 10 patents related to ‘Wonder,’ an insurance income platform that allows the entire insurance sales process to be completed on mobile devices.

Wonder is an insurance sales support platform that enables the entire sales process?from education, planning, application, to customer management?to be conducted solely via a mobile phone. A key feature is that agents do not need to go to the office. Wonder was developed over four years starting in 2019 with an investment of 40 billion KRW.

Lotte Insurance filed patent applications for 10 core functions of Wonder in September last year to prove its leading position and technological achievements and to continuously provide differentiated services.

The core functions for which patents have been registered include 10 features covering the entire sales process, such as ▲customer management ▲easy planning ▲know-how sharing ▲machine learning-based customized education ▲machine learning-based agent attrition prediction ▲income simulation.

The first registered patent, the ‘Conversational Insurance Management Platform,’ is a system that helps agents perform contract management tasks such as contract supplementation and monitoring in a familiar environment like a messenger app. Through push notifications in individual customer chat rooms, it is possible to send congratulatory messages for customer anniversaries such as birthdays and manage customers by gifting ALICE mini insurance products.

‘Easy Long-term Insurance Planning’ provides step-by-step guides and support functions through Wonder to enable not only novice agents with short experience but also experienced agents familiar with other company systems to easily perform insurance planning. An intuitive design was implemented to allow real-time viewing of changes in coverage amounts according to subscription amount changes in graphical forms such as slide bars and polygons (charts using polygonal areas).

Patents were also registered for features that can enhance agent performance, including ▲joint application ▲quests (reward events) ▲care programs.

Previously, Wonder has operated a joint application system where two or more agents jointly proceed with applications to increase contract success rates. The care program, which allows agents to manage contracts with the help of headquarters, significantly reduces agents’ management burdens and helps improve contract retention rates.

Lotte Insurance declared a complete digital transformation (DT) across the entire insurance business process and launched the lifestyle-oriented insurance platform ALICE and the digital sales support platform Wonder last year. Through this, the company plans to complete competitive digital innovation and fully return the results of its innovations to customers and agents as increased benefits.

A Lotte Insurance official said, “Agents using Wonder will be able to discover infinite possibilities in insurance sales free from spatial and temporal constraints,” adding, “We will continue to develop creative functions that can assist agents in their overall sales tasks.”