General Insurance Association of Korea (GIAK) and Korea Life Insurance Association (KLIA) jointly held the “2nd Digital Health Care Demand and Supply Company Matching Day” in cooperation with Korea Digital Health Industry Association and Fintech Center Korea (FCK) at the aT Center in Yangjae-dong, Seoul, on Oct. 28.
The event was designed to help digital health care supply companies match up with insurance companies. Chung Yoo-sun, dean of Sogang University Graduate School of Management of Technology, gave a lecture on the theme “Digital Health Care and Future Insurance.”
The participating digital health care companies had been selected in diverse areas, such as digital treatment products, health management solutions and “InsurTech,” reflecting the insurance industry’s integrated financial platform.
General Insurance Association of Korea (GIAK) and Korea Life Insurance Association (KLIA) jointly A view of the “2nd Digital Health Care Demand and Supply Company Matching Day,” which took place at the aT Center in Yangjae-dong, Seoul, on Oct. 28. (Photo: Korea Digital Health Industry Association)
The 10 finalist companies included Grade Health Chain, a health classification-based health care platform company, Mind Hub, a cerebral nerve rehab solution company, Medi Plus Solution, a post cancer treatment service company, Silvia Health, an early dementia diagnosis and prevention platform company, WELT, a digital product company, Care Mind, a non-face-to-face injury patient treatment company, Teoul, an information service on taking medicines, Promedius, a medical AI cloud company, Haii, a digital treatment company, and Health Max, an ICT-based health management service company.
A Korea Digital Health Industry Association official said, “A first meeting under the theme “matching of digital care and pharmaceutical companies” took place in August, and it would evolve into an event designed to help digital health care, characterized by a convergence industry, match with other industries.”
Meanwhile, Korea Digital Health Industry Association has continued to cooperate with GIAK and KLIA by inaugurating a task force team on invigorating digital care in 2019.
Chairman Byun Young-ha of Korea Digital Health Industry Association said, “The event is hoped to expedite collaboration among InsurTech, digital health care and insurance companies.”
Chairman Byun added that his association will endeavor to collaborate among fintech companies armed with AI, big data, blockchain and IoT and digital care insurance companies.
Regulatory Authorities Come Up with Reform Steps to Solve Simple Insurance Issues
Some 53,278 cases, or 59 percent, of the financial petitions filed with the Financial Supervisory Service (FSS) in 2020 were related to the insurance sector, according to the Financial Services Commission (FSC) report. The report said the period of handling insurance petitions surged from 16.5 days in 2017 to 29 days in 2020.
Regulatory authorities, such as FSC and FSS, announced regulatory reform steps to solve insurance petitions fast by allowing GIAK and KLIA to handle simple insurance petitions with little contention.
The simple insurance petitions, to be handled by GIAK and KLIA, include simple enquiries and on-the-job errors, done by insurance companies, enquiries on insurance premium discounts and extra charges and information on insurance subscription and non-acceptance.
It also covers petitions related to employment contracts between insurance planners and insurance companies & insurance agencies.
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