Hanwha Life has launched an artificial intelligence (AI)-powered cancer insurance product in collaboration with global healthcare firm Need, said the Korean insurer.
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 analyses 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 hospitalisation, 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 KRW50,000 (US$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,” the official said, reported The Korea Times.