Project Description
Electronic Subscription System (Smart Planner) for Hanwha Life
Established in 1946, Hanwha Life is a leading South Korean life insurance company and the first and oldest in the nation. As a subsidiary of the Hanwha Group, the company leverages its financial expertise and cutting-edge technology to create customized insurance solutions that meet the diverse needs of its customers. Hanwha Life is committed to social responsibility and contributes to society through community engagement initiatives. They focus on sustainable growth by expanding their global business and upgrading digital capabilities to fuel future growth engines.
Challenges
As the first life insurance company to adopt an electronic signature system in 2012, Hanwha Life recognized the need to upgrade its system to meet customer demands and industry trends. However, this was challenging, including slow speeds on mobile devices, cumbersome user interfaces, and the need to streamline their workflow processes.
How We Helped
We helped Hanwha Life by replacing their electronic document generation solution with OZ e-Form. Our solution increased processing speeds and provided more user-friendly electronic forms. With the dynamic capabilities of OZ e-Form, Hanwha Life’s financial and insurance planners could modify terms and conditions during customer meetings, which greatly shortened processing times. In addition, integrating our solution with their legacy system further streamlined the back-office process. We also implemented a “smart document” feature that prevents signature omissions and allows users to capture necessary documents and ID cards using the camera of a tablet PC instead of paper documents.
Result
As a result of improvements through the implementation of OZ e-Form, the electronic subscription rate has increased from less than 5% to 30%. Moreover, enabling financial and insurance planners to conduct sales activities, such as contract signing and financial planning, from anywhere and anytime with customers has significantly increased satisfaction.
