According to a report, more than half of the indemnity insurance policy holders did not claim the insurance money last year. When asked why, most of them answered because the amount was small, followed by inconvenience of claiming through a fax or visit to the building. Observing it with a keen eye, some entrepreneurs have moved fast and introduced solutions by using platform technologies.
Life Catch finds and claims your money on behalf of you
Insurance money not claimed for 3 years are gone with wind. Standing on the consumer’s side, a South Korean tech company Green Ribbon introduced an insurance claim platform Life Catch. The app not only shows information on your insurance but claims the money on behalf of you. “If the existing similar services get the documents and send them to the insurance companies more or less, Life Catch takes a step further to get hold of the necessary documents from clinics and hospitals, fill them and claim the money to the insurance company on behalf of our clients. All they (clients) have to do is to agree on our services on the app and no hassle thereafter. We find all of our client’s insurance policies no matter what kind it is and make them pay.” explains CEO Gyuri Kim.
|▲ Green Ribbon / CEO Gyuri Kim|
To make sure of security of the clients, Life Catch is built on encryption, network separation and blockchain technologies. The data is discarded when the payment is made and all is done in order to remove the possibility of leaking personal information. Thanks to this strong security measures as well as convenience, more than 100,000 people active users of Lift Catch were reported during March this year alone. <PowerKorea>
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