Focus on creating new innovation based on Insuretech… Leading the way to eliminate blind spots
Kakao Pay (CEO Young-jun Ryu) announced on the 4th that it has applied for preliminary authorization to establish a digital non-life insurance company with the financial authorities.
When Kakao Pay’s new approval for digital non-life insurers is decided, Korea’s first fintech-led digital non-life insurance company that combines ICT (information and communication technology) and insurance will be born.
Kakao Pay plans to take the lead in improving awareness of insurance and eliminating insurance blind spots by creating new innovations based on InsureTech that protect users from everyday risks.
In addition, it is planning to build a rational and differentiated insurance value chain through the establishment of a digital non-life insurance company, taking it a step further from introducing innovative insurance products with’Envayou’, a corporate protection agency (GA).
An official from Kakao Pay said, “We have been preparing to apply for preliminary authorization not only to serve as an insurance sales platform, but also to play a role as a producer of insurance products that can respond quickly to user needs. And create synergy by developing products linked to various services of the Kakao community.”
Meanwhile, Kakao Pay’s digital non-life insurance company goes through procedures such as preliminary authorization approval, corporation establishment, and main license approval with the aim of launching in the second half of this year.
Copyright © Shin-A Ilbo Unauthorized reproduction and redistribution prohibited