Kyobo Life Insurance, among South Korea's top three life insurers, is gearing up to tap opportunities in the healthcare market after the authorities said earlier this month that insurers would be allowed to expand their businesses into the healthcare sector.
Kyobo Life has begun working with startups to expand its services into healthcare and ultimately create a platform offering various services, the insurer said last week. It has selected five startups and is set to select five more next month to come up with a business model offering healthcare services by the end of this year. Under consideration are services such as dental care through smart toothbrushes or a service that will help improve eating habits.
In the long-term, Kyobo plans to launch a platform o which it offers various healthcare and finance services.