Shin Kong Life Insurance established the LIFE Lab., a new type of insurance experience store, in 2018, to provide a wider range of insurance services to the public and create an integrated virtual and physical insurance service experience. The integration of online digital services and offline store experiences through digital financial tools and excellent consultation service processes has allowed for the provision of digitized, real-time, and accurate insurance concepts that assist the public in effective life planning and risk awareness.
LIFE Lab. enhances the value of insurance and customer experience through innovative digital tools and multiple channels, raising public awareness and appreciation of insurance; Additionally, it contributes to SDG 8, the sustainability goal of economic development, by lowering the average age of policyholders to 39.2 years old, reducing the future burden on social welfare systems, and achieving the mission of social benefit.
By 2022, LIFE Lab. has established its innovative services in locations such as Taipei Main Station, Banqiao, and Songshan, with the aim of benefiting more people. Through continuous innovation, LIFE Lab. has achieved significant results for the Company, including:
For online digital services, we have been actively using our online platforms to deliver the latest insurance knowledge to the public. Since 2018, we have reached 429,948 people through our social media channels; In 2018, we developed the Life Lab +APP, which integrates life insurance consultation, digital services, and interactive technology to facilitate people in completing 22,152 career planning reports online. In 2021, we established the Online Store, an online virtual store that provides services such as career planning and product consultation to people beyond geographical limitations, and we have served a total of 6,534 people so far; In July 2022, we launched the Policy Appraiser, which combines OCR intelligent image recognition technology to speed up the process of individual policy health checks. To date, it has been used by 1,079 people.
For offline physical stores, our flagship store in front of Taipei Main Station, designed as a coffee shop with interactive digital games, has attracted a younger clientele and shortened the distance between customers and insurance providers, with over 100,000 customers having already experienced it. On average, we interact with 62 people per day; The Xinban, Songshan stores, and the administrative center of Shin Kong Life Insurance are combined and manned by dedicated personnel to improve the quality of administrative services. The NPS scores for Xinban and Songshan stores are 90.3% and 85.7%, respectively, showing excellent customer satisfaction.
Innovation and continuous improvement of digital tools have transformed the traditional insurance service model from "sales actively seeking customers" to "customers finding LIFE Lab.." LIFE Lab. places greater emphasis on building customer relationships and developing correct life planning and risk management concepts. It has brought warmth to the relationship between the Company and our customers.
