Hanwha Life Insurance said it has signed a business agreement with Kakao Pay to allow its customers to receive credit loan services through Kakao Talk from March 5.
Under the agreement, Kakao Pay in Kakao Talk will be equipped with two products: Hanwha Life Ez-Family Credit Loan and Hanwha Life VIP Credit Loan.
Both products carry fixed interest rates and have a one-year loan period. "Ez-Family" can be up to 70 million won at 5.4 to 14.0 percent interest rates, and "VIP" can be up to 100 million won at 5.0 percent to 10.0 percent interest rates.
The customers eligible for the service are Hanwha Life Insurance policyholders who are over the age of 26 and have 18 months of insurance maintenance period, and will also be expanded to insurance contract loans or credit loans to ordinary customers in the future.
This credit loan service uses the Credit Scoring System (CSS) upgraded by Hanwha Life in 2020, and decides whether to approve the loan by applying insurance holding information or loan usage behavior.
In addition, a more detailed credit evaluation is possible by applying the Machine Learning [1] model during the first half of this year.
Hanwha Life Insurance contractors have a new option, along with the ARS, Internet, and mobile apps that were previously used, as they can make credit loans.
"In the future, we will continue to add loan service partnerships linked to various platform operators in addition to Kakao," said Lim Seok-hyun, director of Hanwha Life's financial business division. "We will increase customer satisfaction by expanding our window so that Hanwha Life Insurance customers can receive loan services anytime, anywhere."
