The insurance giant implements a blockchain for mailing of customer notifications

In the middle of June, 2020 the South Korean insurance giant KB Insurance announced that it in cooperation with KT Corp telecommunication company implements a blockchain for mailing of mobile notifications. Thus the company aims to cut down expenses and to improve customer service quality.

Insurance companies should send periodically to clients of the notification on changes of policy or about the expecting payments. KB Insurance investigates the system of mobile notifications to guarantee obtaining this important information by the client.

The insurance giant implements a blockchain for mailing of customer notifications

Working with KT, KB Insurance will compare customer information with information on a mobile subscription which is possessed by telecommunication company. Owners of policies which were signed for this service will be able to receive insurance notifications on the mobile phones without the additional application. Even if the client will replace the address and mobile phone number, the personal identification information of the insurer will be used for comparison of data and obtaining new number.

In addition to clients of KT telecommunication company of the notification clients of SK Telecom and LG U+ which have insurance policies of KB Insurance will be able to receive. Information sent using service of mobile notifications will be registered the system of certification of blockchains of the Korean agency on the Internet and ensuring cyber security (KISA). Thus, mobile notifications will receive legal position, equivalent to a registered mail, and the insurer will obtain the evidence that the notification reached the client.

Since July, 2020 KB Insurance will use new service for mailing of notifications on payment and agreement cancelation about car insurance. Further the company is going to cover and other insurance products.^[1]

You look also the Blockchain and cryptocurrency

Notes