"Supporting Vulnerable Groups Through Data Analysis"… KB Insurance Partners with Acryl

Development of Insurance Products for Vulnerable Groups

[Asia Economy Reporter Minwoo Lee] KB Insurance will analyze heterogeneous data such as insurance, medical, and health data to develop insurance products for vulnerable groups in local communities.

On the 22nd, KB Insurance announced that it signed a Memorandum of Understanding (MOU) with Acryl the day before at its headquarters in Gangnam-gu, Seoul, to provide health promotion services for vulnerable groups in local communities based on data and artificial intelligence (AI) technology.

Accordingly, the two companies will jointly research insurance products and services for vulnerable groups by combining behavioral and health data, medical data, and insurance claim payment data of vulnerable groups in local communities. They also plan to carry out ESG (Environmental, Social, and Governance) projects such as establishing care services for vulnerable groups in collaboration with local governments.

Acryl, a company specializing in AI technology development, was established in 2011 and has carried out digital transformation projects with domestic and overseas clients in Vietnam and Uzbekistan. It is also actively conducting fundamental AI technology research with universities and university hospitals. In 2020, it was selected as a recipient of the ICT Unicorn Nurturing Project hosted by the Ministry of Science and ICT, and its self-developed AI platform 'Jonathan' was the first in Korea to receive the ‘Excellent R&D Innovative Product’ certification designated by the Ministry of SMEs and Startups.

Park Cheong, Executive Director of the CPC Digital Division at KB Insurance, said, "We will strive to provide data-based health promotion services that can enhance customers' lives and activate inter-industry data convergence through organic cooperation with capable AI specialized companies like Acryl."