Kakao Pay Insurance Wins Insurtech Award at Innovation in Insurance Awards

Triple Crown in the Global Market

Kakao Pay Insurance announced on July 28 that it won the Bronze Award in the Insurtech category at the 2025 Innovation in Insurance Awards, a globally recognized insurance awards ceremony.

This year, a total of 272 innovative projects from 49 countries were submitted to the awards. The judging panel, consisting of global insurance experts and academics, evaluated the entries based on criteria such as originality, tangible results, scalability, and maturity.

Kakao Pay Insurance won the bronze award in the Insurtech category at the global insurance ceremony, the "2025 Innovation in Insurance Awards." Kakao Pay Insurance

Kakao Pay Insurance received high marks for significantly lowering the entry barrier to insurance by providing lifestyle-oriented insurance products closely connected to users' daily lives through the KakaoTalk platform in a simple and convenient manner. The company implemented a "one-stop insurance experience" within KakaoTalk, allowing users to search for, sign up for, claim, and consult on insurance without installing a separate application. The judges also highlighted the user-centric user interface (UI) and user experience (UX), customized coverage design for customers, and streamlined sign-up and claims process, all of which are innovations optimized for the mobile environment.

This service innovation has also led to tangible results. Key products such as overseas travel insurance and mobile phone insurance have driven performance, enabling Kakao Pay Insurance to surpass 5 million cumulative subscribers in just over two years since its launch.

This award marks the third international achievement for Kakao Pay Insurance, following two global insurance awards it received last year. In November 2023, it was selected as the "Digital Insurer of the Year" at the Asia Insurance Industry Awards 2024, and in December, it became the first Korean company to be named a "5-Star Insurance Innovator 2024" by the global insurance media outlet Insurance Business.

Jang Younggeun, CEO of Kakao Pay Insurance, stated, "Kakao Pay Insurance is recognized as a leading example of digital insurance innovation not only in Korea but also in the global market. We will continue to pursue user-centric insurance service innovation, constantly challenging ourselves and evolving."

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