IBM to Help Korea's Hanwha Life Insurance Accelerate and Enhance Service
Hanwha turns to IBM's consulting and analytics capabilities, along with
software and systems solutions, for an enterprise-wide transformation
SEOUL, South Korea, Dec. 6, 2012
SEOUL, South Korea, Dec. 6, 2012 /PRNewswire/ -- IBM (NYSE: IBM) today
announced that Hanwha Life Insurance (formerly known as Korea Life Insurance)
has engaged IBM for an enterprise-wide customer information transformation
initiative that will provide a single, comprehensive view of Hanwha's
customers and critical insights that enable the insurer to respond quickly to
changing customer demands and deliver compelling, customized offerings.
(Logo: http://photos.prnewswire.com/prnh/20090416/IBMLOGO )
A leading financial services company in Korea, Hanwha offers a full range of
life insurance products, including whole life, variable life, critical illness
insurance and annuities, as well as asset management services to both
individual and corporate clients. To strengthen its client sales and
retention activities, boost the productivity of its agents, and respond to
increasing regulatory requirements, Hanwha needed to have a single, more
accurate and current view of the customer across its entire product portfolio.
IBM is providing consulting services and a complete solution that will
integrate all of Hanwha's customer data across its multiple businesses. The
solution will also provide new analytics capabilities that allow Hanwha to
gain deeper customer insights in order to target offerings and improve
interactions across all sales channels, including its agent network,
bancassurance partners, which are banks that sell its insurance products, as
well as direct sales online and by phone.
As a services company, Hanwha's business success is driven by better
understanding its customers and offering timely, relevant products that meet
their needs. However, assimilating legacy customer information from multiple
sources, and more importantly, extracting valuable business insights from it,
can be a highly challenging task. Hanwha engaged IBM with the goal of
providing high-quality, targeted products based on integrated customer data
and a strengthened security system.
IBM, with its Business Analytics and Optimization consulting capabilities,
will develop a Master Data Management (MDM) solution that will integrate and
manage Hanwha's customer data across businesses. The solution will be powered
by IBM analytics software, including Cognos and InfoSphere, and run on IBM
Power Systems designed to quickly handle computationally intensive workloads
for faster insight.
"Financial services companies in Korea are recognizing the need for better
customer insights in order to win and retain customers in an increasingly
competitive market. IBM is bringing together its capabilities across services,
software and systems to help Hanwha develop a strategic view of their customer
data and effectively analyze and act on the information to drive new business
growth," said Sangho Lee, Business Analytics and Optimization Leader, IBM
Global Business Services, Korea.
Using the IBM MDM system, Hanwha will also develop its process management
governance and customer management strategy that will enable customer
information to be updated and securely shared in real-time across all lines of
business through a common user interface. The system will provide different
levels of access to user groups based on business need.
About Hanwha Life Insurance
For more information on Hanwha Life Insurance, visit: www.hanwha.com
For more information on IBM Korea, visit: http://www.ibm.com/kr/ko/
For more information on IBM Business Analytics and Optimization, visit:
For information about IBM solutions for the insurance industry, visit:
Leslie J. Supriyaranjan Kar Myunghee Son
IBM External IBM External Relations IBM External
561.862.3074 GrowthMarkets Korea
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