Shinhan Life and FPT Form Strategic Partnership to Leverage AI in Insurance Industry Digital Transformation
Shinhan Life Insurance Corporation (Shinhan Life) and FPT Corporation have officially signed a Memorandum of Understanding (MoU), marking a significant milestone in the global-scale digital transformation journey of the leading South Korean insurance company.
Shinhan Life and FPT Expand Comprehensive Collaboration in Digital and Green Transformation.
Building upon the success of previous digital transformation projects between FPT and Shinhan Life Vietnam, this partnership aims to further capitalize on FPT’s technological strengths and Shinhan Life’s capabilities to expand collaboration across their entire ecosystem.
Specifically, the two parties will expand their comprehensive collaboration in three key directions. First, FPT will accompany Shinhan Life in its digital, green, and smart transformation journey by enhancing ongoing digital transformation projects, including human resource management, eKYC, digital solutions for customer support, and a digital business support ecosystem. Additionally, FPT will integrate artificial intelligence (AI), big data, robotic process automation (RPA), and the Internet of Things (IoT) to optimize operational efficiency and enhance customer experience for Shinhan Life.
Second, the two parties will broaden their collaboration within Shinhan Life’s global ecosystem through Shinhan Life Vietnam.
Third, both companies will extensively leverage FPT’s technological ecosystem in IT and digital transformation, telecommunications and connectivity infrastructure, education and training, smart transformation with AI and cloud computing applications, finance and e-commerce, green transformation and sustainable development, as well as digital entertainment services.
Collaboration Driven by Previous Success in Digital Transformation Projects Between FPT and Shinhan Life Vietnam.
Shinhan Life, a subsidiary of Shinhan Financial Group, is one of South Korea’s leading life insurance companies with 35 years of experience. Continuously innovating, Shinhan Life has built a solid reputation through diverse insurance products, high-quality services, and pioneering the application of technology in risk management, customer care, and operational optimization. Shinhan Life Vietnam officially entered the Vietnamese market in 2021, focusing on providing life insurance, health insurance, and flexible financial solutions. The company is committed to enhancing customer experience through digitalization while ensuring long-term financial security and well-being tailored to the Vietnamese market.
Mr. Bae Seung Jun, CEO of Shinhan Life Vietnam, stated: “With the belief that finance should be more user-friendly, secure, and innovative, we continuously develop applications and technology platforms to maximize efficiency for employees and insurance agents while establishing a fast and effective support system to improve customer experience. Shinhan Life’s digital transformation journey will be carried out in phases to ensure system stability and a seamless experience for customers, employees, and insurance agents.”
“The comprehensive partnership with FPT Corporation marks our commitment and strengthens our technological capabilities in digitalization, promising better experiences and services for our customers,” Mr. Bae Seung Jun added.
During the event, Mr. Lee Young Jong, Chairman and CEO of Shinhan Life (South Korea), reaffirmed Shinhan Life’s strong commitment to driving full-scale digital transformation, not only in South Korea but also in Vietnam, with future expansion into global markets. He emphasized that Shinhan Life Korea continuously enhances its capabilities and service quality through technology while supporting Shinhan Life Vietnam in adopting technology in its business operations..
On FPT’s side, Mr. Nguyen Van Khoa, CEO of FPT Corporation, commented: “As global businesses and the insurance sector push for digital, green, and smart transformation, the partnership between FPT and Shinhan Life highlights our strategic vision and steps toward global expansion. In Vietnam, FPT has partnered with Shinhan Life Vietnam for three years, achieving significant milestones in digital technology application for operations and customer service. With our comprehensive technology ecosystem, 60 million users, and an extensive business network, FPT is committed to working with Shinhan Life to harness smart data and drive outstanding business results in the near future.”
At the event, Mr. Khoa proposed three areas of collaboration between FPT and Shinhan Life. First, building an AI Hub to research and test AI models, develop new insurance product ecosystems, and aim for global application. Second, data collaboration, leveraging FPT’s ecosystem to help Shinhan Life develop new business models. Third, talent development, integrating relevant disciplines into the curriculum at FPT University to supply high-quality professionals.
“FPT will invest its best resources to collaborate with Shinhan Life in pioneering digital, green, and smart transformation, aiming for sustainable development,” Mr. Nguyen Van Khoa affirmed.
The strategic agreement between FPT and Shinhan Life is a result of the successful collaboration between FPT and Shinhan Life Vietnam, setting an exemplary model for technology adoption in Shinhan Life’s system and the insurance industry as a whole. FPT has successfully implemented various technology solutions for Shinhan Life Vietnam, including the FPT.iHRP human resource management system, FPT.eLearning online training management system, FPT.eBiztrip comprehensive business trip management solution, FPT.eInvoice electronic invoicing solution, and Mega App for Shinhan Life Vietnam. These solutions have helped optimize operations, enhance security, and improve customer experience in the insurance sector.
According to Shinhan Life Vietnam, these solutions have significantly increased work efficiency, optimized internal processes, and strengthened overall governance. Notably, the Mega App serves as a unified ecosystem, connecting the entire business team and integrating all activities such as recruitment, training, insurance application submission, contract management, and direct customer communication— all within a single digital platform.
FPT is a global technology corporation with over 36 years of experience in providing comprehensive digital, green, and smart transformation solutions. With a workforce of over 83,000 employees and a presence in 30 countries, FPT has built a solid reputation across various industries, particularly in finance and insurance. The company offers cutting-edge technology solutions such as automation, big data management, cybersecurity, and customer experience optimization, helping financial and insurance enterprises enhance operational efficiency, security, and sustainable growth.
