NAMSOO LEE, CEO of INSUDEAL
- Featuring a unique structure for converting insurance contracts into investment assets, supported by AI-based valuation technology
- Implementing a B2B2C strategy centered on a network of experts, including insurance agents, financial planners, and tax accountants
“While the existing insurance market focuses on sales, INSUDEAL aims to enhance insurance liquidity and expand individual asset utilization opportunities through the new perspective of ‘trading.’ INSUDEAL’s vision is to build a new insurance ecosystem where policyholders, investors, and agents can all participate.”
Its flagship product is the insurance policy trading platform, ‘INSUDEAL.’ INSUDEAL facilitates the conversion of undervalued insurance contracts, such as those scheduled for cancellation or short-term whole life policies, into tradable assets. Policyholders can sell their contracts for amounts higher than the surrender value, enabling favorable cash-out conditions, while buyers can expect high returns after a certain period. Throughout this process, INSUDEAL ensures secure transactions by quantitatively evaluating each contract’s return rate, maturity refund rate, and remaining coverage period using its AI-based insurance value analysis algorithm. Consequently, INSUDEAL is opening a market where insurance contracts are reimagined as ‘tradable financial assets’ rather than ‘disappearing financial instruments.’
INSUDEAL’s greatest competitive advantage lies in its unique ability to convert insurance contracts into investment assets, supported by AI-based valuation technology. Previously, terminating an insurance contract prematurely resulted in inevitable losses. However, INSUDEAL analyzes the policy’s future cash flows to create a market for trading with third parties. Furthermore, INSUDEAL has established a highly reliable trading environment with a proven transaction process designed by financial experts and robust legal safeguards. Additionally, INSUDEAL is building both the technological and institutional foundations to elevate the ‘secondary market for insurance’ beyond a simple platform to an institutional level.
“A network of professionals, including tax accountants, financial planners, and insurance agents, is at the core of INSUDEAL’s current B2B2C strategy. These professionals can use INSUDEAL to present new alternatives during the customer’s insurance rebalancing process. Simultaneously, we are conveying the unfamiliar concept of ‘insurance policy trading’ through accessible content channels like blogs, Brunch, and YouTube, as well as offline promotions via financial communities and retirement planning seminars. Moving forward, INSUDEAL plans to expand a trustworthy ecosystem for trading insurance assets through partnerships with insurance companies and financial institutions.”
INSUDEAL has completed its seed funding round and is preparing for a pre-A round of investments. Funds will primarily be used for technological investments to stabilize the platform and advance the AI valuation engine, as well as for marketing expansion. INSUDEAL prefers ‘industry collaboration-type investments’ over simple capital raising and is pursuing strategic partnerships with financial data companies and insurance firms. As INSUDEAL pioneers the new insurance policy trading market, it seeks to collaborate with long-term investors focused on building market trust and institutional entry rather than short-term revenue.
The seven-member INSUDEAL team is hands-on, encompassing all aspects of financial platform development and service planning. The experts collaborate closely in their respective fields, leading market changes based on their rapid decision-making and execution capabilities. Lee said, “The greatest strength of the INSUDEAL team is that each employee doesn’t just stick to their role. We collaborate closely under the shared goal of enhancing the product’s completeness.”
Regarding future plans, Lee stated, “Our ultimate goal is to establish the circulation of insurance assets at an institutional level,” adding, “We plan to evolve beyond a simple trading platform into a ‘comprehensive insurance asset infrastructure’ encompassing insurance valuation, trading, and tax processing.”
Founded: June 2021
Main business: insurance policy trading platform
Achievements: Selected for the Startup Scale-up Package
reporter jinho lee
jinho2323@hankyung.com
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