KB Insurance takes first step toward going paperless

Models hold up mobile notifications from KB Insurance. [NEWS1]

KB Insurance said Monday it has partnered with KT to launch a mobile notification system, becoming the first local insurance company to go paperless.

KB’s mobile notification service uses both the information held by the company and by the mobile carriers to identify the individual, which the company claims minimizes the possibility of notifications being mishandled.

Insurance companies generally still rely on physical mail, which is often lost or undelivered due to outdated delivery information.

The service will be available through all three major mobile carriers. Mobile notifications will be verified by the Korea Internet & Security Agency and will have the same legal force as a paper document.

KB Insurance said the new system will kick off in July, starting with those who’ve signed up for car insurance and gradually expanding to other insurance policies. It plans to send preemptive notice of payments and termination notices for car insurance to customers via mobile devices.

The company said it hopes the mobile notification service can accelerate the shift towards a paperless working culture as well as expand the number of contactless services available to its customers.

BY KANG JAE-EUN [kang.jaeeun@joonang.co.kr]