South Korea’s KB Insurance is working with telecoms firm KT Corp to combine blockchain with a mobile notification service for customers of its non-life insurance business. The company aims to reduce mailing costs, non-delivery of notifications, and improve customer experience.
KB Financial offers banking, insurance, credit card, and brokerage services in South Korea. As of March 31, the company has total assets of $444.6 billion.
Insurance companies need to periodically send notifications of policy changes or pending payments to customers. KB Insurance is exploring the mobile notifications system to ensure that the customer receives this vital mail using a digital channel.
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