Shinhan Life Launches 'LICO 2.0'... Upgrades AI-Based Insurance Planning

Shinhan Life announced on October 19 that it had launched “LICO 2.0,” an upgraded version of its artificial intelligence (AI)-based insurance planning system, LICO (Life Copilot), to provide customers with optimal insurance products and improve insurance planners' work efficiency.

LICO is a natural language-based insurance planning system that Shinhan Life introduced in February 2026 as the first of its kind in the industry. Customers can enter their information and planning requirements as if conversing with AI, and generative AI analyzes the input, suggests a plan tailored to their needs, and assists in generating proposals.

The latest upgrade project focused on increasing automation so that insurance product planning could be handled more easily in the field. AI now provides real-time support throughout the planning process, enabling insurance planners to immediately check recommendations, coverage analyses, and revisions to insurance plans, even during customer consultations.

The speed of processing plan changes and the quality of AI responses have also been significantly improved. LICO 2.0 generates recommendations about 35% faster than the previous version. Frequently used functions, such as adding riders or changing coverage amounts, can now be completed with a single click. This reduces the steps required to enter text and interpret AI requests, making plan revisions faster and easier.

The system also quickly incorporates changes to customer information or product terms, as well as updates arising during premium calculations or underwriting. This makes it easy to adjust plan terms to meet customers' diverse needs, allowing insurance planners to focus on explaining products.

Use of LICO in the sales field increased significantly immediately after the service overhaul. The share of insurance plans created through LICO expanded to about 13 times the previous month's level. About 70% of all insurance plans are now prepared with LICO's AI support, with an average of approximately 11,000 plans generated per day. Improvements to the system's features and usability based on feedback from the field are driving increased use, boosting work efficiency and helping strengthen the competitiveness of sales channels.

Shinhan Life plans to expand LICO's support beyond the insurance planning stage to cover sales activities more broadly. The company intends to extend its use to consultation preparation, information searches, and sales support, developing it into an AI partner that can assist insurance planners with their day-to-day work at any time. A Shinhan Life representative said, “We upgraded the system to reduce the burden of repetitive tasks in the field and increase its usefulness, enabling insurance planners to more carefully assess customers' coverage needs and explain them thoroughly.” The representative added, “We will continue our AX innovation to improve the quality of planning and consultations, helping customers understand and choose the coverage they need.”

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