ICONLOOP, the Korean company of blockchain technology, has announced the launch of the Lifelong Healthy Life service in beta. "Lifelong Healthy Life" is a disease prediction service based on the blockchain developed in collaboration with Kyobo Life Insurance Co., Korea's largest life insurance company and with LifeSimantics Co., a digital health company.
"Lifelong Healthy Life" is a service that uses disease prediction algorithms developed on the basis of health and pre-health check data to predict disease risk (over a 3-year period) and provides comparative analysis insurance coverage against the real risk data of suppliers insurance.
The project aims to implement an empirical model that combines in InsureTech, digital healthcare and blockchain data authentication technology. ICONLOOP is an authorized commercial partner for the & # 39; FinTech Demonstration Project 2018 & # 39; from the Ministry of Science and Information Technology and Communication (MSIT) and the Korea Internet & Security Agency (KISA), ICONLOOP has formed a consortium with Kyobo Life and LifeSemantics since May 2018.
Unlike the current insurance coverage analysis system, which measures future health risks based on current insurance underwriting data, the Lifelong Healthy Life service offers insurance products based on future risk forecasts for provide reasonable and cheaper healthcare options for customers.
Furthermore, by sharing the results of the certification of personal information on the blockchain, the insurance policy holders can access and manage their own health data and insurance information independently, in line with the Personal Data Protection Regulation (GDPR). Once the customer integrity exam records are passed to the blockchain-based authentication system, the data provided is rendered immutable stored on the blockchain.
ICONLOOP has developed the blockchain authentication system for the "Lifelong Healthy Life" based on "loopchain". Loopchain is a blockchain engine that can be customized through the stack from the engine to the application, allowing different authorization settings between the nodes participating in the blockchain in order to respond to various activities and compliance. Kyobo Life Insurance claims that loopchain has successfully demonstrated its blockchain finance platform and now expects to scale its service in the management system & # 39; record life & # 39; or & # 39; My details & # 39 ;.
"We intend to expand our blockchain authentication system so that the InsureTech activities based on the disease prediction data infrastructure can be managed with confidence and the derivative services can be released at the same time.We aim to interconnect with the heterogeneous blockchain through the ICON smart contract basis, while we maintain the operating system tests and verification processes to extend the scope for the management of first-order medical data. "
ICONLOOP, developer of CHAIN ID, Korea's first joint authentication blockchain system with the Korea Financial Investment Blockchain consortium, also participated in the demonstration project of the Seoul Metropolitan Blockchain. In addition, ICONLOOP has been selected as a blockchain technology consultant for "Building the Next Generation System based on Intelligent Information Technology" under the supervision of Korea's National Electoral Commission (NEC).