"Synergy with Life Care Startups" Kyobo Life Insurance Successfully Completes InnoStage 2nd Cohort

Open Innovation 'InnoStage' Season 2 Concludes... Demo Day Winner is 'Jejemimi'

At the "Kyobo Life InnoStage 2nd Demo Day" held at the Kyobo Life Building in Jongno-gu, Seoul, Jejemimi CEO Park Mi-young (center), who won the grand prize, and officials are taking a commemorative photo with Yoon Yeol-hyun, President of Kyobo Life (second from the left).

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance is collaborating with outstanding startups in various ways through open innovation. The goal is to enhance the company's overall digital competitiveness by utilizing the innovative services of startups.

Kyobo Life Insurance announced on the 8th that it has successfully completed the second phase of the open innovation program "InnoStage." Through InnoStage, the company explored collaboration plans with startups offering diverse lifecare services.

InnoStage is Kyobo Life Insurance's open innovation platform that discovers and nurtures excellent startups together with accelerators and develops cooperative business models. It was launched last year to discover differentiated insurance products, services, and new businesses through startups' innovative solutions.

Last year, the first phase of InnoStage mainly included companies focused on health-promoting healthcare services. This year, the scope was broadened, and a large number of startups with solutions capable of providing various lifecare services to customers were selected.

In July, five startups were selected for the second phase of InnoStage, overcoming a fierce competition ratio of 70 to 1. Since then, they have undergone an acceleration process with the professional accelerator Krypton.

The results of the acceleration process over the past four months were revealed at a demo day. At this event, the five startups introduced not only their unique business models but also collaboration plans with Kyobo Life Insurance.

"Frentrip," which operates the leisure activity platform Frip, collaborated with Kyobo Life Planet Life Insurance, Korea's first online life insurance company, to launch insurance exclusively for Frip activities. "Dtime," which provides HR management solutions, introduced a small and medium-sized enterprise HR management system developed together with Kyobo Life Insurance's operational departments.

The demo day winner was Jejemimi. "Jejemimi" received favorable reviews for its solution that automatically manages children's photos and creates videos.

A Kyobo Life Insurance official said, "'InnoStage' is a win-win model that provides startups with a foundation for growth and allows the company to discover new growth engines," adding, "We will continue to strive for company-wide digital innovation through business partnerships with startups."

This content was produced with the assistance of AI translation services.