Jarvis & Villains , which operates the 'Tax Assistance Service for 20 Million Citizens', Samjyeonsam, announced on the 25th that it has acquired the insurtech company Microprotect.
MicroProtect was founded in 2019 and launched its real estate insurance agency claim service, Returns, in 2021.
Under the common goal of "finding hidden savings for customers," the two companies shared the synergy and business direction of combining tax and hospital reimbursement services. The acquisition, which began in March, has been finalized. MicroProtect will become a subsidiary of Samchwisam and pursue business expansion.
“Together with Samjyeonsam, we will focus on innovation to enable customers to easily enjoy insurance benefits on a larger scale,” said Kwon Sang-min, CEO of MicroProtect.
Through this acquisition, Jarvis & Villains plans to enter the insurtech market and capitalize on the growth potential of the domestic insurance market. As of 2024, the domestic insurance market is expected to be worth approximately 250 trillion won, with annual unclaimed actual loss insurance claims alone reaching 270 billion won. Of the 34 million actual loss insurance subscribers, approximately 60%, or 20 million, have never filed a claim.
Samjjeomsam customers can access tax and hospital reimbursement services within the app, and in the future, they will also receive personalized insurance diagnosis and recommendation services. This will expand the Samjjeomsam app into a lifestyle-focused economic platform.
Kim Beom-seop, CEO of Jarvis & Villains, said, “Microprotect has a similar service flow and logic to Samcheonsam, making it suitable for platform expansion,” and added, “We will develop it into a platform that provides convenience to customers in all aspects of their daily lives, including tax and hospital reimbursements and insurance.”
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