Kyobo Life Insurance to enter the healthcare market

Kyobo Life Insurance, South Korea's third-largest life insurer, has formalized its entry into the healthcare market following authorities' approval.

In order to expand its business, the South Korean giant has established five partnerships with startups and plans to double that number by the end of the year. The first services resulting from this collaboration would lead to the creation of a platform offering health services based on an economic model.

Other projects are also under consideration. These include products that promote a healthy lifestyle behaviour such as smart toothbrushes which provide a connectivity with insurers. A service aiming at improving eating habits based on big data analytics and food recommendations is also planned.

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