On September 17, Kyobo Life Insurance announced that it is helping customers receive insurance payouts totaling approximately 47 billion KRW (about 47 billion won) each month by operating the "Lifelong Assurance Service" and the "Hidden Financial Assets Finder" program.
Since introducing the Lifelong Assurance Service in 2011, Kyobo Life Insurance has actively supported customers in claiming their insurance payouts. Through this service, financial planners visit customers once or twice a year to review their coverage, assist with preparing the necessary documents, and guide them through the procedures so that customers can claim their insurance payouts in a timely manner.
Last year, there were 500,000 proxy claims submitted by financial planners through the Lifelong Assurance Service. As a result, a total of 537.3 billion KRW in insurance payouts was delivered to customers. By August of this year, the company had supported 340,000 insurance claim procedures, returning approximately 370 billion KRW in payouts, which averages to about 46.5 billion KRW per month. Kyobo Life Insurance explained that the cumulative number of customers who have used the Lifelong Assurance Service has reached 2 million to date.
These services have been made possible since Kyobo Life Insurance received approval for the MyData business in January 2021, enabling a wide range of offerings such as asset management, consumption analysis, health-based insurance analysis, and retirement planning. Within this month, Kyobo Life Insurance plans to further enhance its services by collaborating with the Korea Inclusive Finance Agency to allow integrated inquiries of dormant account information.
A Kyobo Life Insurance representative stated, "We will continue to prioritize customer benefits and strive to provide a variety of digital financial experiences."
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