GenocoreBS, a subsidiary of LabGenomics, a specialized company in genomic molecular diagnostics, announced on the 22nd that it has independently developed an artificial intelligence (AI) algorithm based on medical data. Using the AI algorithm, it supplies personalized ‘health diagnostic data services’ (IB services) to financial institutions such as insurance companies.
A GenocoreBS official stated, “We have developed the AI cancer diagnosis prediction platform Mesemble and completed preparations for related patent applications,” adding, “Through a platform that provides epigenomic analysis services for cancer diseases, it is possible to analyze DNA methylation data and predict cancer occurrence.”
The newly developed IB service platform analyzes medical data obtained through the platform with the consent of the examinees, including health checkup data, prescription data, and Genopack tests (cancer disease genetic tests) from LabGenomics’ testing centers. Based on this, it provides information such as the examinee’s vulnerability to specific diseases, presence and occurrence of genetic disorders, and changes in health status to requesting financial companies.
GenocoreBS expects that by adding personalized information such as the examinee’s insurance subscription history and health checkup history, insurance companies will be able to recommend optimal insurance products tailored to the customer’s health condition. Furthermore, starting with insurance agencies (GA), it plans to expand into major domestic insurance companies and overseas markets to actively promote its digital healthcare business.
Jonghoon Lee, CEO of LabGenomics, said, “The vast diagnostic result data built through diagnosis will play a key role in the blossoming digital healthcare market,” and added, “We expect synergy through the convergence of LabGenomics’ diagnostic technology, LabGenomics testing center’s test data, and GenocoreBS’s IT capabilities.”
He continued, “Through the independently developed medical data-based AI algorithm, we will provide useful medical data to major domestic insurance companies and enable insurers to recommend customized insurance products to customers.”
In the recently saturated insurance market, leading domestic insurance companies such as KB Insurance are selecting digital healthcare as a new growth engine and promoting related new businesses. There are also cases of operating personalized digital healthcare platforms based on data analysis such as health checkup results, step counts, and genomic test information.
Moreover, as the medical paradigm shifts from post-disease diagnosis and treatment to proactive prevention and management, the importance of diagnosis is increasing. Riding this trend, comprehensive health insurance products guaranteeing everything from chronic disease prevention to diagnosis and post-treatment are being launched one after another.
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