ICONLOOP, Kyobo Life, LifeSimantics to help insurance with new disease prevention solution

Blockchain technology developer ICONLOOP has teamed with Kyobo Life Insurance and LifeSimantics to launch a new blockchain-based disease prediction solution.

The Lifelong Healthy Life has been deployed in its beta test.

Its prediction algorithms have been developed based on healthcare and pre-health check data to help forecast risk over a three-year period. The solution also offers comparative analysis of insurance coverages against actual risk data from insurance providers.

This partnership will look to combine InsurTech, digital healthcare and blockchain authentication technology to boost insurance protection.

Lifelong Healthy Life will provide insurance products based on forecasts of future risks and offer consumers affordable healthcare options.

By sharing results of personal information certification through the blockchain, policyholders can manage their health data and insurance information. When the customer health examination records are put onto the blockchain-based authentication platform, it is stored and made immutable.

ICONLOOP CEO Jonghyup Kim said, “We plan to expand our blockchain authentication system so that the InsurTech businesses based on disease prediction data infrastructure could be operated with security and derived services can be released at the same time.

“We aim to hyperconnect with the heterogeneous blockchains through the ICON smart contract base while keep operating system tests and verification processes to expand the scope to first-class medical data management.”

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