Hanwha Life Insurance Launches Industry-First Non-Face-to-Face Sales of 'Insurance Claim Rights Trust'

Hanwha Life Insurance announced on the 30th that it has established an industry-first system that allows customers to enroll in an insurance claim rights trust through a non-face-to-face process.

An insurance claim rights trust is a trust product that allows insurance customers to pre-assign their death benefit claim rights to a trust company, so that in the event of the customer's death, the insurance payout can be distributed more securely to their family. By allowing customers to designate how the death benefit should be distributed according to their wishes while alive, this product helps reduce family disputes and supports the stable livelihood of surviving family members. If the beneficiary is a minor, a person with a disability, or otherwise in need of protection, the customer can pre-designate a trusted individual as the trust manager to prevent infringement of the beneficiary's interests.

Hanwha Life Insurance Claim Rights Trust Non-Face-to-Face Enrollment Process Screen. Hanwha Life Insurance

Previously, customers wishing to enroll had to visit a customer center in person, which was inconvenient. Recognizing the growing interest in insurance claim rights trusts, Hanwha Life Insurance has built a system that enables customers to complete the entire enrollment process non-face-to-face, without visiting a customer center.

For non-face-to-face enrollment in the insurance claim rights trust, a dedicated trust investment solicitation agent introduces and recommends the trust product to Hanwha Life Insurance customers who wish to learn more. After the customer confirms or modifies the plan and submits an application, the final agreement is completed via a video call with a Hanwha Life Insurance employee. All these steps are conducted through a digital process.

Hanwha Life Insurance began selling the insurance claim rights trust in September, and within just three months, the total trust amount surpassed 70 billion won. Enrollment is limited to customers who meet certain requirements, such as having a main contract with a general death benefit of at least 30 million won among Hanwha Life Insurance products.

Choi Inhee, Head of the Inheritance Research Institute at Hanwha Life Insurance, stated, "While providing asset transfer consulting through six Financial Advisor (FA) centers nationwide, we have identified various customer needs and launched this non-face-to-face service to enhance convenience and accessibility for digitally savvy customers. Going forward, we will expand non-face-to-face enrollment for not only insurance but also a variety of trust products, providing essential and customized financial services for every stage of our customers' lives."