Hanwha Life Insurance said on Tuesday that it has introduced a system allowing customers to enroll in insurance claim trusts entirely through non-face-to-face channels. The company said this marks the first time in the domestic insurance industry that such trusts can be contracted fully online.
An insurance claim trust allows a policyholder to place the right to claim death benefits with a trust company in advance, so that proceeds are distributed to beneficiaries in accordance with prearranged terms after the policyholder’s death. The structure enables the policyholder to specify how benefits are allocated during their lifetime and, in cases where beneficiaries are minors or persons with disabilities, to appoint a trustee to manage and safeguard their interests.
Previously, customers seeking to establish an insurance claim trust were required to visit a customer service center in person. Under the new system, all steps—from identity verification to contract execution—are handled digitally. A licensed trust investment solicitor explains and designs the trust, after which the customer reviews and confirms or revises the arrangement. The contract is finalized through a video call with a Hanwha Life employee.
Hanwha Life began offering insurance claim trusts in September and said the total value of trusts established through the product surpassed KRW 70 billion within three months of launch. Eligibility is limited to policyholders who meet certain criteria, including a minimum death benefit of KRW 30 million under the main policy.
The company said demand for asset transfer and management solutions has been rising, prompting the shift toward a remote enrollment process aimed at improving accessibility for digitally oriented customers. Hanwha Life currently provides asset transfer consulting services, including inheritance, gifting and business succession planning, through six Financial Advisor (FA) centers nationwide.
Hanwha Life’s Inheritance Research Institute, established in 2024, offers advisory services covering asset transfer and management across the customer life cycle. The company said it plans to gradually expand the range of trust products available through non-face-to-face channels.
