Insurance Industry and Insurtech Report — 2026-06-24
Canadian insurer GreenShield is pioneering the "payer-provider" model, integrating healthcare services directly into insurance. Meanwhile, Tomato System’s U.S. subsidiary has secured a platform contract with a Texas insurer, highlighting the global expansion of Korean digital healthcare. Domestically, the push is on to refine regulations for digital healthcare data and expand mobile health insurance ID services through private platforms.
Insurance Industry and Insurtech Report — 2026-06-24
Domestic Insurance Trends
1. Tomato System's U.S. Subsidiary Signs Insurance Platform Deal
CyberMDCare (CMD), the U.S. subsidiary of Tomato System, has signed an agreement to operate an insurance platform for Medcare Partners Health Plan of Texas. This marks a significant milestone for Korean digital healthcare technology entering the U.S. market, signaling the growing global competitiveness of domestic health-tech firms.
2. Expanding Mobile Health Insurance IDs to Private Apps
As part of the "2026 Digital Service" policy, the Ministry of the Interior and Safety is working to make mobile health insurance cards easily accessible via popular private apps. This policy aims to improve public service accessibility while accelerating digital innovation within the insurance sector.
3. Discussions on Standards for Digital Healthcare Data Use
The National Assembly is debating the enactment of a Digital Healthcare Act. Key discussions focus on treating medical data as part of national research infrastructure and approaching it through the lens of bio-security. The goal is to strike a balance between protecting personal health information and fostering a data-driven healthcare industry.
Global Insurtech and Healthcare Achievements
1. GreenShield Leads Canadian Healthcare Innovation with Payer-Provider Model
Wrapping up its 2025 strategic plan, Canadian insurer GreenShield has shifted to a "payer-provider" model. As the first integrated insurance-medical service in Canada, this model allows the insurer to provide medical services directly, aiming to tackle rising healthcare costs and accessibility issues.
2. Global Insurtech Funding Sees First Growth Since 2025
According to Gallagher Re, global insurtech investment in 2025 rose by 19.5% year-on-year, reaching USD 5.08 billion. This is the first annual increase recorded since 2021, largely driven by accelerated reinsurance investments.
3. Prosper AI Secures $30 Million for Healthcare Operation Automation
Prosper AI has raised $30 million in a series funding round backed by Andreessen Horowitz. The company provides an agentic AI platform that automates administrative tasks—from patient scheduling to insurance verification—helping both insurers and medical institutions improve operational efficiency.
Market Insights and Analysis
The most striking shift in the 2026 insurance industry is the transition toward insurers providing medical services directly (the payer-provider model). Like the GreenShield case, the trend is moving away from simple claim processing toward an integrated model where insurers act as actual medical providers.
Simultaneously, the adoption of AI and automation is accelerating. Startups like Prosper AI are automating administrative hurdles such as insurance verification, patient scheduling, and billing, which is slashing operating costs and boosting customer experience for insurers.
Domestically, the key is the regulatory framework required to build a data-driven healthcare ecosystem. With the ongoing enactment of the Digital Healthcare Act, the expansion of private platforms, and the standardization of medical data, the foundation for Korean firms like Tomato System to go global is strengthening. Tomato System’s deal with a U.S. insurer proves the international competitiveness of Korean technology, setting the stage for more health-tech companies to expand abroad.
The 19.5% growth in 2025 global insurtech funding signifies that digital transformation in insurance has moved beyond simple IT upgrades into a phase of fundamental business model redesign. As the lines between insurance and healthcare blur, companies with strong data-handling capabilities and advanced AI technology will likely become the winners in the future market.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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