Communication with the Elderly Customers in the Digital Era: A Case of Video-Chat Service of a Korean Insurance Company

Abstract

Objectives: BigTech companies have expanded into the financial sector and offer various services such as payments, lending, insurance, wealth management, and other financial products. However, elderly individuals may struggle to adapt to new technologies and digital financial services due to a lack of familiarity and experience with digital devices and online platforms. The purpose of this study was to examine the case of a Korean life insurance company that introduced video chat services to address the digital inclusion of elderly customers, the proportion of whom is increasing due to population aging in the wave of pandemic-accelerated digitalization. Methods: In this case study, we investigated the M Life insurance company's successful introduction of video chat-based customer service to replace existing customer walk-in centers. Two series of customer satisfaction survey results are presented. In addition, based on the senior technology acceptance model (STAM) theory, we investigated the factors contributing to the success of video chat customer service and suggested directions of development. Results:In accordance with the STAM, personal characteristics such as self-efficacy, anxiety, and health deficiencies, as well as environmental supports including assistance and guidance, were key factors contributing to the successful adoption of and intention to use the video chat service among senior customers. Conclusions: Through video chat-based customer service, customers can enjoy the benefits of non-face-to-face, time-agnostic, and location-agnostic interaction. Additionally, the company benefits from improved human resource efficiency and employee satisfaction.