Insurtech company Green Ribbon announced on the 17th that it had won the Minister of Science and ICT Award (group category) at the '2025 Republic of Korea ICT Awards'.
The Korea ICT Awards is an official government awards ceremony hosted by the Ministry of Science and ICT and co-hosted by the National IT Industry Promotion Agency (NIPA) and the Korea Association for ICT Promotion (KAIT). It selects and awards companies and technologies that have made significant contributions to the development of the domestic ICT industry and society.
Green Ribbon has been recognized for its AI-based insurtech service, "LifeCatch," which automatically analyzes and provides insurance claim information previously unknown to policyholders or unclaimed. Combining insurance data with an AI analysis engine, LifeCatch has expanded its service to include automatic detection and claim support for not only actual loss insurance but also fixed-amount insurance such as diagnostic and surgical fees.
This award was given for its ability to alleviate the information asymmetry problem faced by insurance consumers, reduce the complexity of the insurance claim process, and improve the convenience of using insurance benefits.
According to Green Ribbon, LifeCatch, based on the insurance data of approximately 2.7 million people, has successfully recovered approximately 80 billion won in insurance benefits that customers had not been able to claim due to lack of awareness or procedural inconvenience, and has converted them into actual financial benefits.
Green Ribbon plans to capitalize on this award by further advancing AI-based insurance claim automation technology and continuously expanding applicable insurance claim areas, thereby contributing to the development of the domestic insurtech industry.
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