Wellgram Secures Patent Rights for 'Mobile Electronic Subscription System'

[Asia Economy Reporter Jang Hyowon] Wellgram (CEO Gilwoong Lee), which operates Korea's first insurance aggregator platform 'Nugaguga Jalhana,' announced on the 20th that it has acquired the patent for 'Method for Implementing Office Automation Using Encrypted Digital Subscription Documents (hereinafter referred to as Mobile Electronic Subscription).'

This patent is a fundamental technology that revolutionarily improves the problems arising from changing the existing face-to-face insurance subscription, where agents visit in person, to a non-face-to-face method. It appears that the value of subscribing to insurance in a non-face-to-face manner for agents who have been constrained by the COVID-19 situation has been recognized through this patent.

In particular, since the patent application in 2016, non-face-to-face subscriptions via mobile have been activated across all insurance companies, and many insurers have introduced and are operating insurance subscription procedures identical or similar to the patented method. Non-face-to-face subscriptions, which began to be permitted by regulatory authorities due to COVID-19, are expected to become more active in the future.

Meanwhile, Wellgram is an insurtech company aiming to be Korea's first big data-based aggregator created to compare and analyze all domestic insurance products and recommend the most suitable insurance products to customers.