'Toggle' Operating Startup OpenPlan Receives TI-3 Rating from SCI Evaluation Information
Granted to Leading Tech Companies... Innovative Insurance Services Utilizing IT Technology
[Asia Economy Reporter Minjin Kim] OpenPlan (CEO Kwanghyun Lee), which operates the lifestyle-oriented insurance platform ‘Toggle,’ announced on the 7th that it recently received the 'TI-3' rating, awarded to top technology companies, from SCI Evaluation Information, a specialized institution for Technology Credit Rating (TCB).
The Excellent Technology Company Certification conducted by SCI Evaluation Information comprehensively analyzes a total of eight items including technological performance, marketability, business feasibility, and management capability, and assesses the economic value of the technology owned by the company by dividing it into 10 TCB grades. It is awarded to manufacturing and information technology (IT) companies with excellent technological business capabilities and competitiveness. The evaluation grades are divided into 10 levels from TI-1 to the lowest TI-10. They are categorized as top technology companies (TI-1, TI-2), upper technology companies (TI-3, TI-4), and average technology companies (TI-5, TI-6), among others.
Kwanghyun Lee, CEO of OpenPlan, explained, “The TI-3 rating corresponds to the top 1% among small and medium-sized enterprises, representing a high grade. Since the TI-3 rating meets the conditions for KOSDAQ technology special listing, it is recognized as a company possessing excellent technological capabilities.”
OpenPlan is an insurtech startup established in 2019. It secured seed investments from CNT Tech, New Paradigm Investment, and Next Dream Angel Matching, and was selected for the Credit Guarantee Fund Step-up Challenge Company, fintech-specialized programs, and the Ministry of SMEs and Startups TIPS program. Insurtech refers to innovative insurance services utilizing IT technologies such as artificial intelligence (AI), Internet of Things (IoT), big data, and blockchain.
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OpenPlan operates an on-demand insurance service that allows easy comparison and purchase of mini-insurance necessary for daily life. Toggle’s daily insurance enables simple subscription to insurance via the application and web without phone consultation. Through collaboration with 10 general insurance companies including Samsung Fire & Marine Insurance, it is an insurance platform where users can easily subscribe to 18 insurance products across six categories needed in daily life, such as leisure travel, drivers, automobiles, pets, housing, and cyber insurance.
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