Shinhan Life and FPT Partner to Drive Digital Transformation in the Insurance Industry

In addition to digital and green transformation, the two corporations will jointly expand their global ecosystem to leverage each other’s strengths.

Shinhan Life Insurance Corporation (Shinhan Life) and FPT Corporation have signed a Memorandum of Understanding (MoU), marking a significant milestone in the global-scale digital transformation journey of the leading South Korean insurance company.

At the event, Mr. Lee Young Jong, Chairman and CEO of Shinhan Life (Korea), reaffirmed Shinhan Life’s strong commitment to promoting comprehensive digital transformation not only in Korea but also in Vietnam, with a long-term vision to expand globally. He emphasized that Shinhan Life Korea continuously strives to enhance capabilities and service quality through technology, while being ready to support its subsidiary in Vietnam in the journey of applying technology to business operations.

Representatives of South Korean insurance corporation Shinhan Life and FPT signing a comprehensive cooperation agreement on digital and green transformation.

This cooperation builds upon the previous success of a series of digital transformation projects between FPT and Shinhan Life Vietnam, with the expectation of leveraging FPT’s technological expertise and Shinhan Life’s financial strength to expand collaboration across the entire system of both organizations.

Specifically, the two parties will broaden their comprehensive partnership under three main directions. First, FPT will accompany Shinhan Life in its journey toward digital, green, and smart transformation through the enhancement of ongoing digital projects, including human resources management, eKYC, digital customer support solutions, and business-supporting digital ecosystems. At the same time, FPT will propose the implementation of artificial intelligence (AI), big data, robotic process automation (RPA), and Internet of Things (IoT) applications to optimize operational efficiency and improve Shinhan Life’s customer experience.

The two companies will also expand cooperation within Shinhan Life’s global ecosystem through Shinhan Life Vietnam. Additionally, both sides will strengthen collaboration by leveraging FPT’s extensive ecosystem in information technology and digital transformation; telecommunications and connectivity infrastructure; education and training; smart transformation, artificial intelligence (AI), and cloud applications; finance and e-commerce; green transformation and sustainable development; and digital entertainment services.

“The comprehensive cooperation with FPT Corporation marks a strong determination and reinforces Shinhan Life’s technological capacity in the digitalization journey, promising enhanced experiences and services for our customers,” said Mr. Bae Seung Jun, CEO of Shinhan Life Vietnam.

Overview of the signing ceremony between FPT and Shinhan Life Vietnam.

According to Mr. Nguyen Van Khoa, CEO of FPT Corporation, in the context of global enterprises — particularly in the insurance industry — accelerating digital, green, and smart transformation, the partnership between FPT and Shinhan Life reflects the strategic vision and forward-looking steps of both organizations, not only within Vietnam but also toward a global scale.

FPT has accompanied Shinhan Life Vietnam since 2022 in applying digital technology to its operations and customer services. Accordingly, FPT has successfully implemented a series of technology solutions for Shinhan Life Vietnam, such as the FPT.iHRP human resource management system, the FPT.eLearning online training management system, the FPT.eBiztrip comprehensive business travel management solution, the FPT.eInvoice electronic invoicing solution, and the Mega App digital application — all contributing to operational optimization, enhanced security, and improved customer experience in the insurance industry.

Shinhan Life, a member of the Shinhan Financial Group, is one of the leading life insurance companies in South Korea with 35 years of experience. Shinhan Life Vietnam has been operating in the Vietnamese market since 2021.