[Click eStock] "IGNet, Anticipation for the Next INKA Financial Service"

On August 13, independent research firm ValueFinder analyzed IGNet, stating that the company is emerging as a digital general agency (GA) through its insurtech platform, and there are rising expectations that it could become the next INKA Financial Service.

IGNet, established in 2014, is an insurtech specialist that was listed on the KOSDAQ market in February after qualifying as a technology growth company. Its main business divisions are the insurance data and IT-based platform 'Bodak' and its insurance GA business operated through subsidiaries. Since its launch in 2019, Bodak surpassed 2.32 million cumulative downloads as of July, successfully establishing itself in the market.

Lee Choongheon, a researcher at ValueFinder, stated, "Traditional exclusive agents could only sell insurance products from their affiliated companies, but GAs have the advantage of being able to offer products from multiple life and non-life insurance companies to customers without being tied to a specific insurer." He further analyzed, "Based on this strength, the center of gravity in the domestic insurance market is rapidly shifting toward the GA channel."

He also noted, "INKA Financial Service, a KOSDAQ-listed company, achieved strong results and a sharp rise in its stock price by actively increasing the number of its affiliated agents." He added, "IGNet is currently using Bodak to leverage customers' MyData to sell personalized insurance products, and as meaningful results are emerging, there are growing expectations that it could become the next INKA Financial Service."

In addition, he explained, "The company aims to generate various B2B revenues through an open platform in the future. It has already signed an MOU with Vietnamese insurtech 'Medici' and established a local subsidiary in Singapore, laying the groundwork for full-scale overseas expansion."

He added, "The company's overseas expansion strategy, in addition to its domestic efforts, is expected to provide momentum for an upward revaluation in the future."