SEOUL, Jul. 26 (Korea Bizwire) — Insurance services will provide point benefits on a trial basis within this year if companion animals achieve their target health goals. The Financial Services Commission (FSC) said Thursday it has designated five more innovative financial services, including point benefits for companion animals. To that end, insurtech startup SmallTicket will [...]
SEOUL, Jul. 8 (Korea Bizwire) — As delivery apps such as Baedal Minjok and Yogiyo are enjoying their heyday, the work pattern of delivery people and their legal status is also changing. However, the possibility of getting injured and the risk while delivering goods are not getting much attention. Some point out that there is [...]
BOSTON, Jun. 3 (Korea Bizwire) — Xceedance, a global provider of insurance consulting, managed services, technology, data sciences, and blockchain solutions, today announced that Blue Zebra Insurance (Blue Zebra) has successfully deployed the company’s MGA Agility Suite to modernize policy lifecycle management processes. Blue Zebra required a flexible insurtech platform with modern functionality to compete [...]
SEOUL, May 22 (Korea Bizwire) — Insurtech, a combination of insurance and technology, is known as an underdeveloped sector despite its potential. The Financial Supervisory Service (FSS), in its analysis on how Internet of Things (IoT), big data, artificial intelligence (AI), blockchain, and other new technologies are being used in the South Korean insurance market, [...]
SEOUL, Feb. 27 (Korea Bizwire) — South Korean health insurance companies are coming up with ‘mini insurance plans’ to attract customers in their 20s to 40s. Mini insurance plans allow customers to select specific levels of protection at affordable prices of less than 10,000 won (US$8.95) per month. KB Insurance Co. announced on Tuesday that [...]
SEOUL, Jan. 24 (Korea Bizwire) — Beginning in May, those with pets will be able to make an insurance claim with an animal insurance company immediately after receiving animal care. Sung Dae-kyu, the head of the Korea Insurance Development Institute (KIDI), said at a press conference Wednesday that the ‘Pet Insurance Claims Online Processing System’ [...]
SEOUL, Jan. 8 (Korea Bizwire) — The Korea Insurance Development Institute announced on January 7 that it has started developing a new assessment tool called ‘Automobile Repair Cost On-line Service-α’ (AOS-α). The system’s artificial intelligence (AI) will estimate vehicle repair costs by analyzing pictures of car wrecks caused by traffic accidents. The institute is planning [...]
SYDNEY, Australia and MINNEAPOLIS, Nov. 27 (Korea Bizwire) — Medibio Limited (MEB or the Company)(ASX: MEB)(OTCQB: MDBIF), a mental health technology company announces that it has signed an exclusive agreement with AIAA to undertake a pilot program for the latest release of its corporate health program, ilumen™. AIAA is one of Australia’s leading life insurers, [...]
SEOUL, Nov. 13 (Korea Bizwire) — The national health insurance plan will begin covering surgery for severe obesity starting in January. Once the coverage is in effect, patients will only have to disburse 1.5 million to 2 million won for surgical procedures that typically cost from 7 million to 10 million won. The Ministry of [...]
SEOUL, Sept. 13 (Korea Bizwire) — Starting October 1, new insurance subscribers no longer need to reveal their disabilities, so as to ensure fair conditions for the physically challenged people who want to purchase insurance policies. According to the Financial Supervisory Service, the previous provision that required insurance plan seekers to notify insurance companies of any [...]