Hanwha Life Insurance has announced that its AI-backed translation service and AI-powered planning agent have been designated as Innovative Financial Services by the Financial Services Commission (FSC). This designation highlights the potential for enhancing consumer convenience, generating financial-related jobs, and fostering industry innovation. The AI Translation service aims to eliminate language barriers, facilitating effective communication between financial planners and clients, particularly important as foreign residency in South Korea rises. This service helps clients better understand insurance products in their native languages, thereby improving customer service. Additionally, the AI Planning Agent drastically reduces insurance plan design time from over nine minutes to under one minute, allowing financial planners to concentrate on strategy and client consultation. Hanwha Life, with over a decade of investment in AI research, anticipates launching these services later this year to bolster competitiveness and enhance customer experiences in the insurance sector.
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