IGNet, 80% Sales Increase Last Year... Operating Profit Turns Positive

Increase in Users of AI Insurance Platform "Bodak"

MyData-based AI insurtech company IGnet announced on the 21st that its consolidated sales last year reached 23.3 billion KRW, a 79% increase compared to the previous year. Operating profit was 400 million KRW, and net profit was 200 million KRW, both turning positive.

The performance growth is attributed to the increase in users of the AI insurance platform 'Bodak' driven by the growth of the insurtech market, the full-scale launch of B2B (business-to-business) operations, and revenue growth through expanded services within Bodak.

The insurtech market, to which IGnet belongs, is rapidly growing not only in Korea but also in the global market. The digitalization of the insurance industry is accelerating due to increased demand for insurance remodeling amid economic recession and the non-face-to-face preference of the generation that forms the core of economic activity.

IGnet is recently advancing service refinement and maximizing work efficiency by integrating AI technology into insurance diagnosis, design, and customer consultation through research and development of AI technology. The strategy is to sustain revenue and profit growth by replacing most of the service processes with AI agents. They are also concretizing their entry into the Southeast Asian market by partnering with the number one insurtech company in Vietnam within this year, raising expectations for overseas market performance.

Kim Ji-tae, CEO of IGnet, said, "This year, we aim to raise the level of domestic insurtech by focusing on AI research and development to provide more sophisticated information and improve service efficiency through AI agents."

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