Carrot General Insurance announced on Feb. 19 that it has secured a contract for the implementation of Behavior Based Insurance (BBI) solutions with Indonesia’s Lippo General Insurance.This contract acquisition marks the first instance where Carrot’s inherent technological expertise and data capabil
AIA Korea announced on July 27 that it is stepping up efforts to enhance its digital capabilities to position itself as a future leader in the insurance industry.To that end, the company plans to set the company-wide digital transformation as its top management priority and will invest in three area
Techfin Asia 2019, which will take place in Seoul on Dec. 5-6, is aimed at discovering how far the disruptive technologies can go in today’s developed financial sector.On the agenda of Techfin Asia 2019 will be artificial intelligence (AI), big data, blockchain, cloud computing, open banking, e-comm
Kakao is planning to expand its insurance services and its move is likely to accelerate the growth of the domestic online insurance market. Insurers aiming to increase their online sales and attract more young customers are looking to participate in Kakao’s platform.At present, Kakao Pay is discussi
South Korea’s financial regulations are hampering insurers’ efforts to secure a next growth engine.Global companies based on information and communications technology (ICT), such as Google, Alibaba and Tencent, are making an aggressive investment in insurtech, which refers to the use of technology i
Information technology (IT) innovation is now upgrading insurance services. Insurtech, a word coined by blending "insurance" and "technology," is transforming the insurance industry. The emergence of totally new types of insurance services has been fueled by the new technologies of the Fourth Indust
Global insurance giants are expected to apply blockchain technology to actual insurance contracts starting from next year, accelerating InsurTech.During the “Fourth Industrial Revolution and InsurTech Utilization” seminar held at the Korea Chamber of Commerce and Industry building in Jung-gu, Seoul,
Kyobo Life announced on April 19 that the life insurer was finally selected as an operator of the government’s pilot blockchain project for laying the foundation for vitalizing the internet of things (IoT).According to Kyobo Life, this project is a pilot blockchain project conducted by the National