A great experimentation is underway in the blockchain world. Insurance companies are no exception to this global trend.  Blockchain-based insurance policy platform developer ZIKTO has signed a memorandum of agreement with Kyoby Lifeplannet Insurance Wednesday.

Under the agreement, they will co-develop insurance policies and ways of improving insurance marketing process through the blockchain platform.

ZIKTO believes that the partnership would lead to commercializing the blockchain-based insurance know-how and technology.

Kyobo Lifeplannet became South Korea’s first online life insurer and is now the No.1 online insurance company in South Korea. Kyobo became the nation’s first life insurer that introduced a blockchain-based identification system.