Viva Republica teams up with Samsung Life to expand mobile insurance platform

Fintech company Viva Republica said Tuesday that it will work with South Korean life insurance firm Samsung Life Insurance to advance its platform for insurance planners.

Viva Republica, the operator of money transfer app Toss, launched insurance affiliate Toss Insurance in 2018, rolling out non-face-to-face insurance services. The company is also running Toss Insurance Partner, a platform to support insurance planners to handle customer services and manage insurance contracts. The support platform helps a planner be connected with five new customers every month on average, the fintech firm said.

With the new partnership, Viva Republica plans to increase the presence of its mobile platform for insurance planners in the local market. Samsung Life insurance also hopes to promote its services via the fintech company’s mobile solutions that aggregately have 18 million subscribers. Around 25,000 insurance planners are registered on the Toss Insurance Partner platform.

“As non-face-to-face services has become crucial in the insurance industry, Toss Insurance Partner has been creating synergy with traditional insurance firms like Samsung Life Insurance,” said Park Jin-woo, chief of business development unit at the fintech firm.

By Kim Young-won (wone0102@heraldcorp.com)