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Is Kakao Pay revving up to launch online insurer?

Is Kakao Pay revving up to launch online insurer?
koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.

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Kakao's non-life insurance biz taking shape

Kakao s non-life insurance biz taking shape
Posted : 2021-06-10 16:39
By Lee Kyung-min
The Financial Services Commission (FSC) said Thursday that it has granted preliminary approval for Kakao s plan to set up a non-life digital insurance firm, clearing the way for the IT giant to expand in a niche online market easily accessed by young customers seeking short-term, low-interest loans.
The success of the insurance business will hinge on how fast and accurately the firm identifies subscriber demands, propped up by a targeted marketing scheme that best utilizes Kakao Talk, Kakao s messenger service with the largest market share.
The FSC said it approved Kakao s plan in a regular meeting Wednesday, as the firm met requirements on capital, business plan feasibility and sound management. ....

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