Zikto, a start up company is developing the “insureum” project and announced that they will sell the insurance products directly on 11th. To do this, they completed the registering insurance agents to insurance association in early January
Currently, they have a partnership with domestic and overseas insurers including Axa insurance, Hyundai insurance, Kyobo Life and is planning to show various of product and insurance service by entering directly into insurance business.
They are also planning to sell the product that Climate Risk Specific insurance for sudden loss from climate change within one quarter of 2019 along with large-scale insurers have signed business agreement last year. Previously, this Climate risk insurance was not activated due to measurement difficulties of loss rate and examination of claims.
However, they explained that compensation is automatically paid to customer without customer’s claim while the contracts are saved in block chain data when it is corresponded in policy using big data and block chain technology.
In addition, they are developing a digital platform for individuals and businesses in which various of insurance product can be compared and purchased. In the business platform, it is possible not only purchasing product but also providing solution that manage the diverse risk related to climate changes such as rainfall and snowfall using Big Data.
Seo Hanseok, co- representative, Zikto said “According to a study, 52% of Korea
GDP industry are affected by the weather, so it is a major factor in the national economy.” Continued “ In the future, Zikto will introduce various products that prepare for the climate change and diverse risks through consistent collaboration with domestic and overseas major insurers.”
Meanwhile, they have signed business agreements with Axa, Hyundai, Kyobo Life planet and developing the customized insurance product using cryptocurrency Insureum last year and also accelerating the commercialization of block chain technology with block chain platform Klaytn under development by Kakao’s family company Ground X.(먹튀폴리스)