SHANGHAI, April 16, 2021 /PRNewswire/ -- Leapstack (or "the Company"), an AI-enabled InsurTech company specializing in healthcare, has inked a strategic partnership with Korean Reinsurance Company, Asia's largest reinsurer based in Seoul, as Leapstack actively advances into the Korean market having already partnered with several of Korea's top insurers.
The Company is committed to providing big data AI solutions for commercial insurance companies and social security management agencies. As the Company further expands its business in the Asian market, it has cooperated with Hyundai Insurance (China), Korean Reinsurance Company and Sino-Korea Life Insurance.
Leapstack has become a leading player in the InsurTech sector, offering services to medical payment institutions and regulatory bodies with risk control solutions powered by Robotic Process Automation (RPA) and AI technologies. Its clients include national and local social security, medical insurance, auditing, commercial banking, insurance, human resources, as well as pharmaceutical firms.
"We're glad to establish a strategic partnership with Korean Reinsurance Company. This is a significant step for us to fuel our expansion in Asia, and together with Korean Reinsurance we will jointly develop businesses to create greater commercial value," said Jason Liou, the founder of Leapstack.
With its team of professionals with experience in risk management, data science and AI development, the Company has developed a slew of solutions based on risk control models to serve its financial insurance clients for their medical payment needs. Leapstack's solutions also come with automated operation, anti-fraud and anti-money laundering features.
As part of its business strategy in Asia, Leapstack plans to further expand its presence in South Korea and Japan by offering one-stop smart risk management services powered by its core RPA and AI technologies, in a move to boost smart digitalization in the insurance sectors in China and South Korea.
About Korean Reinsurance Company
Korean Reinsurance Company (003690: Korea SE), established in 1963, primarily provides both life and non-life reinsurance services. Its products include life, fire, marine, auto, casualty, guarantee, pension, long-term, and foreign reinsurance.
Founded in 2016, Leapstack is an InsurTech company with a focus on the healthcare industry, primarily offering risk management solutions to commercial insurers and insurance intermediaries. Headquartered in Shanghai and Beijing, it has extended branches in major cities in China, and established its international headquarters in Hong Kong in 2019 to further expand in Asia.