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Insurance and Securities

Bancassurance System

The Best Insurance Sales System, Bancassurance System

The Bancassurance system is another type of insurance sales system that is designed for convenience to users through engaging and real-time performance management, maximizing revenue generation to clients, and accurate business assistance to affiliated insurance companies.

Features and Advantages

IBK Bancassurance System

Providing the optimal solution

  • Integrated management
  • Knowledge accumulation
  • Insurance products DB establishment
  • High quality Customer-first principle
  • System link
  • Task diversification

Creating new revenue sources and establishing IT infrastructure for integrated financial institutions

Bancassurance Relay System of Industrial Bank of Korea

  • IBK strategic reflection
  • Reflection of financial industry trends
  • Integrated reflection of an advanced IT technology
  • Componentialization of the infrastructure for integrated financial services
  • CBA(Component Based Architecture)
    Component-based architecture
    J2EE standard web development system
    Multi-Layer architecture based on MVC
    Link to next-generation banking system architecture
  • CBD(Component Based Development)
    Systematic iterative, development methodology of incremental component
    Development of high-quality systems in a short period of time
    Lower total cost of IT with reuse
    Achieve corporate integration and interoperability based on standards
  • Web Services
    Easy to make an alliance by accepting business standards
    Flexible system to respond quickly and proactively to the changes in financial environment and customer needs
    Establish share-based foundation for IT resources
    Reflecting the technological capabilities of trial application to Samsung financial affiliates

Overall business plan

Bancassurance System

  • Client management
    Management of customer information
    Client consultation services
  • Contract management
    subscription
    deposit
  • Money transaction
    Money transaction
    Bank account
  • Performance management/Statistics
    Goal/performance management
    Managing retaining contracts
    Commission results
    Comprehensive performance information
  • System link
    Link to Internet banking
    Link to customer service center
    Bank system
    Link to insurance company
  • Sales support
    Financial-demand analysis
    Organizing subscription
    Product management

Flowchart of the whole system

System link(DW/CRM/Image Server)

Bancassurance Operating Scope

Bancassurance System

  • SoftwareSystem operation(S/W application)System software and application program
  • FilesDatabase management systemMechanism of file, database, and data structure
  • ServerIT-aided monitoring systemProcesses, data storage, communication interfaces and peripherals
  • Communications networkNetwork management systemIT network operating system, communication equipment
  • PeopleOperational organization and configurationManager, operator etc.
  • OthersSecurity and safety managementSafety inspection and security management for various installation equipment

Expected effects

Total Financial Network Bank for individual and corporate clients - Acquired know-how in life insurance/non-life insurance operations
- Establish a foundation for future comprehensive financial services
- Prepare basic responsiveness to the opening of the domestic financial market
- Embody customer satisfaction by recommending the best products and providing services to clients
- Satisfy clients' needs by improving the work process
Increase task efficiency - Create profit model for affiliated marketing through additional job
- Various Biz interface activities, expanding new customers
Responses to IT compliance (regulations, supervision) - Financial planning systems validated in domestic financial actualities
- Optimal product recommendation system through product analysis by insurance companies
- Component-type system that closely responds to changes and expansion in Biz strategy
Utilization, distribution and storage of documents - Cross/up selling through linkage between insurance customer data and bank customer data
- Acquire information for future development/sales of "bank+insurance" complex products
- Laying the foundation for the development of a comprehensive financial instrument for One-Stop Service

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  • Client aspects
    Provide products/services tailored to customer needs (unconstrained product selection and financial planning)
    Purchase insurance products at a lower cost than traditional sales channels
    Comprehensive financial services customized to provide convenience with the advent of integrated contacts for financial instruments and the emergence of diversified products (Tailored One-Stop Service)
  • Bank aspects
    Provide products/services tailored to customer needs (unconstrained product selection and financial planning)
    Purchase insurance products at a lower cost than traditional sales channels
    Comprehensive financial services customized to provide convenience with the advent of integrated contacts for financial instruments and the emergence of diversified products (Tailored One-Stop Service)