Jun Ji-hye, a reporter at the finance desk of The Korea Times, focuses primarily on economic policy and government agencies, mainly covering the Ministry of Finance and Economy, the Ministry of Budget and Planning, the National Tax Service and the Korea Customs Service. She previously covered financial authorities, including the Financial Services Commission and the Financial Supervisory Service, and earlier worked on the political, city and business desks, reporting on a wide range of issues.
Hanwha Life launches AI-powered cancer insurance with global health care firm
Hanwha Life launched an AI-powered cancer insurance product in collaboration with global healthcare firm Need. Courtesy of Hanwha Life
By Jun Ji-hye
Hanwha Life has launched an artificial intelligence (AI)-powered cancer insurance product in collaboration with global healthcare firm Need, the Korean insurer said Tuesday.
The product offers not only tailored coverage through a package of riders for cancer treatment but also comprehensive, personalized care throughout the treatment journey.
Need is an AI health care startup founded in 2019 by Harvard Medical School graduates Will Polkinghorn and Petros Giannikopoulos. Its cancer protection system uses AI to provide insights on cancer prevention, treatment and recovery.
The system connects and analyzes patients’ health checkup data while offering a dedicated AI platform for physicians to support treatment planning. Its credibility is reinforced through validation by a global network of cancer specialists.
The new product features a simplified enrollment plan that allows nearly anyone to sign up as long as they do not meet three specific conditions.
The three criteria are hospitalization, surgery or additional test recommendations for confirmed or suspected diseases within the past three months; any hospitalization or surgery in the last five years; and any diagnosis, hospitalization or surgery for cancer or other serious illnesses during the past five years.
The minimum premium, covering both the base plan and riders, is 50,000 won ($36).
The plan’s main coverage is organized into 11 bundled rider packages and is designed to support the entire cancer treatment process, offering services from screening and diagnosis to surgery, chemotherapy and both inpatient and outpatient care.
“The key advantage of this new product is that it goes beyond basic cancer diagnosis coverage by leveraging Need’s AI-driven cancer protection system to guide customers throughout their treatment journey with tailored protection,” a Hanwha Life official said. “We plan to further strengthen our cancer-focused solutions that support customers across all stages of life.”