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Hanwha Life Insurance, Samsung Fire & Marine Insurance
According to the financial industry on the 1st, Hanwha Life Insurance recently reported to the Financial Supervisory Service for a’health care service for the general public’ side work. It is a task that can provide health-related services to non-contractors including contractors.
Hanwha Life Insurance has shown considerable interest in the healthcare market. In 2019, it formed a consortium of group companies and attempted to acquire’UBCARE’, an information technology (IT)-based medical service company, and last year, it signed a business agreement with a global pharmaceutical company, Korea, to develop a platform for dementia prevention and care.
Also, since 2019, it has been running a health management app that checks consumers’ diet and sleep status. Hello, when a user authenticates himself with an accredited certificate, it shows health checkup information for the past 10 years at a glance, and analyzes the’biometric age’ which converts the health level into age. In particular, by taking pictures of the food you eat with a smartphone camera, AI automatically analyzes how nutrients and calories are, so you can manage your diet.
An official at Hanwha Life Insurance said, “We are not doing any specific business yet, but we have reported in advance because we are very interested in the healthcare market.”
At the beginning of this month, Samsung Fire & Marine Insurance registered trademark rights of’Any Health’,’Anyins’ and’Anyin’ with the Korean Intellectual Property Office. Currently, it has not actually launched a service called’Any Health, Anyins, Anyin’. With Samsung Fire & Marine Insurance in mind to expand into the healthcare market, trademark rights were first registered in advance.
Currently, Samsung Fire & Marine Insurance is running a health care app for policyholders under the name Anyfit. AnyFit is operated in version 2.0, and provides points when you achieve goals such as walking or running, as well as osteoporosis care, health risk analysis, health checkup reservation, and mental health check (mental health). In the healthcare market, Samsung Fire & Marine Insurance’s active trademark application is expected to make it possible to enter the healthcare service market for the general public using Samsung Electronics’ smartphones, wearable devices, and payments.
Overseas insurance companies also try telemedicine services
This movement of insurance companies is because the scale of the healthcare market is expected to grow rapidly. In particular, the reason is that they started to find a new food market because the traditional business method of making money by selling insurance products cannot make a profit. According to the Korea Health Industry Development Institute, the global digital healthcare market is growing at an annual average rate of 21% from 96 billion dollars in 2016. Global Market Insights, a market research firm, predicted that the digital healthcare market will reach 504.4 billion dollars (about 603 trillion won) by 2025.
Already overseas, insurance companies are actively advancing into healthcare. It goes beyond simple health care services to far more than telemedicine. China Ping An Insurance has created a healthcare platform Ping An Good Doctor to provide mobile-based personalized healthcare services, and South Africa’s insurance company Olif provides death and disability insurance when AIDS or diabetic patients receive health check-ups and treatments. System.
An official from an insurance company said, “In Korea, the insurance business law itself is very conservative, and it is in violation of the medical law, so it is not yet possible to conduct a breakthrough health care business. As such, insurance companies will also develop related services.”