KB Insurance-Gongmuwon Pension Service, Business Agreement for the Development of Civil Servant Group Insurance System

[Asia Economy Reporter Changhwan Lee] KB Insurance announced on the 21st that it signed a Memorandum of Understanding (MOU) for collaboration on the development of the civil servant group insurance system and the introduction of health management services for current and former civil servants with KB Healthcare and the Government Employees Pension Service at the KB Insurance headquarters building located in Yeoksam-dong, Gangnam-gu, Seoul.

The signing ceremony was held with the attendance of Kang Seonghoon, Vice President and Head of Corporate Sales Division at KB Insurance, Choi Nakcheon, CEO of KB Healthcare, Kim Youngshim, Director of Welfare Headquarters at the Government Employees Pension Service, and executives and employees from each company.

Through this MOU, KB Insurance will proceed with ▲ development of group insurance products for current and former civil servants ▲ improvement of operating systems and business processes.

The Government Employees Pension Service promised ▲ expansion of group subscribers to reduce medical expenses burden for retired civil servants ▲ provision of KB Healthcare’s ‘O-CARE Service’ application. Additionally, both parties agreed to conduct joint research to improve the civil servant group insurance system.

Kang Seonghoon, Vice President of KB Insurance, stated, “KB Insurance and KB Healthcare plan to provide customized healthcare services such as digital activity management, chronic disease management, and health functional food recommendations based on user health information, in addition to joint research and group insurance product development for the advancement of the civil servant group insurance system.”