Kyobo Life to boost AI-based mobile services

Kyobo Life Insurance COO Yun Your-hyun, left, poses with Kakao Enterprise CEO Baek Sang-yeop, after the two companies signed a partnership on AI technology, at Kyobo's headquarters in Seoul, Monday. / Courtesy of Kyobo Life Insurance

By Kim Bo-eun

Kyobo Life Insurance said Monday it will strengthen its mobile-based services by utilizing artificial intelligence (AI).

This will be based on its partnership with Kakao Enterprise, the unit of IT giant Kakao focused on AI technology. The two signed a partnership at Kyobo's headquarters in Seoul the same day.

The insurer said the partnership is part of "Digital Kyobo 2020," a plan to incorporate AI technology into insurance processes and boost customers' utilization of mobile-based services after the COVID-19 pandemic ends.

Based on the partnership, Kyobo is aiming to incorporate AI chatbots to deal with customer inquiries. Customers will be able to ask about insurance on Kakao Talk 24/7.

Kyobo also plans to discuss with Kakao Enterprise ways to improve its internal communication system.

"The spread of the untact culture due to COVID-19 will accelerate competition for digitalization in the finance sector," Kyobo Life Insurance COO Yun Your-hyun said at the partnership signing ceremony.

“Untact” is a Konglish term used in the finance industry here meaning “contactless.”

"We hope for the two companies to create exemplary digital services in the sector," Yun said.