Kyobo Lifeplanet's "Lafle" Expands to Indonesia After Hong Kong

On August 19, Kyobo Lifeplanet Life Insurance, a digital life insurer, announced that it had signed a memorandum of understanding (MOU) with Indonesian fintech company Bangjamin for the supply of its insurtech solution "Lafle" and local business collaboration.

Founded in 2022, Bangjamin is a rapidly growing digital insurance platform company in Indonesia that has attracted investments from global financial firms and venture capital funds.

Previously introduced to a global insurance company in Hong Kong, Kyobo Lifeplanet Life Insurance’s "Lafle" is a personalized "insurance nurturing" platform that combines health management rewards with content to gradually boost customer interest in insurance. Through this partnership, Kyobo Lifeplanet Life Insurance will integrate the Lafle solution into Bangjamin’s platform ecosystem.

This integration will enable some 20,000 agents and distribution partners within the Bangjamin network to efficiently develop and manage customer databases, while also leveraging Bangjamin’s B2B network to offer the Lafle solution to a variety of insurers throughout Indonesia.

Kyungseok Kim, CEO of Kyobo Lifeplanet Life Insurance, said, "This partnership once again demonstrates Lafle’s outstanding technology and growth potential in the Asian market. We will continue to lead the digital transformation of the global insurance industry with our unrivaled insurtech capabilities."

This content was produced with the assistance of AI translation services.