KB Insurance

What KB Insurance does

KB Insurance Co., Ltd. is a South Korean non-life insurance company founded in 1959 and headquartered in Gangneung, operating as a subsidiary of KB Financial Group Inc. — one of South Korea's largest financial conglomerates. The company offers a portfolio of insurance products organized around age-differentiated health coverage (cancer, stress, and cardiovascular coverage for adults aged 15-40; dementia and long-term care protection for adults aged 41-80), alongside pet insurance, children's coverage, and property lines. In 2026, KB Insurance expanded into the autonomous vehicle insurance vertical through the K-autonomous driving cooperation model consortium in Gwangju with Samsung Fire & Marine, DB Insurance, Hyundai Marine, and Hanwha Insurance, and participates in a government-backed program providing free indemnity and flood coverage to small merchants with annual sales under 300 million won.

Revenue is generated through recurring insurance premiums on subscription-based non-life products distributed through Korean insurance channels and the broader KB Financial Group ecosystem, including KB Kookmin Bank, KB Securities, and KB Investment. AM Best affirmed an A (Excellent) Financial Strength Rating and 'a' (Excellent) Long-Term Issuer Credit Rating with a stable outlook, citing strong balance sheet adequacy and parent support. Strategic capital deployment includes an 85 billion won co-investment by KB Insurance alongside KB Kookmin Bank, KB Securities, and KB Investment into the 160 billion won KB Deep Tech Scale-up Fund, targeting AI, robotics, semiconductors, bio/health, and future mobility. No proprietary technology stack, AI/ML capabilities, or pricing tiers are publicly disclosed.

Name

KB Insurance

Legal name

KB Insurance Co., Ltd.

Website

https://kbinsure.co.kr

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

KB Insurance is a South Korean non-life insurance subsidiary of KB Financial Group offering age-differentiated health coverage, property, pet, and emerging autonomous vehicle insurance products to mass-market consumer and small business segments across South Korea.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

akta.pro secondary industries

Small Group Health Insurance (2–50/100) (FSAIAFAD), Long-Term Disability (LTD) Insurance (FSAIAIAD)

Keywords

• Non-life insurance
• Health insurance products
• Property insurance coverage
• Vehicle insurance
• Insurance underwriting

Headquarters

HQ city

Gangneung

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Insurance Premiums: KB Insurance generates revenue primarily through insurance premiums from its non-life insurance products, including health insurance, property insurance, and specialized coverage such as autonomous driving insurance.

Go-to-market motion3 records

Core offering

KB Insurance is a South Korean non-life insurer offering age-differentiated health insurance (cancer, stress, cardiovascular coverage for adults 15-40; dementia and long-term care for adults 41-80), property insurance, autonomous vehicle insurance under the K-autonomous driving cooperation model, Middle East risk-related coverage products, and free indemnity/flood insurance for small merchants through government-backed programs. The company underwrites and distributes these policies as a subsidiary of KB Financial Group, leveraging the group's brand and distribution infrastructure within South Korea.

Product overview

KB Insurance operates as a non-life insurance subsidiary of KB Financial Group, offering a portfolio of insurance products including age-specific health insurance policies with differentiated coverage for younger and older adults, autonomous vehicle insurance developed through industry partnerships, and specialized coverage products addressing regional and sector-specific risks. The company participates in government-backed small merchant support programs and strategic technology investment initiatives through KB Financial Group affiliates.

Differentiator

Problem solved

Functional benefit

Products and services

• Age-Specific Health Insurance Age-differentiated health insurance products offering cancer, stress, and cardiovascular disease coverage for adults ages 15-40, and dementia and long-term care protection for adults ages 41-80. Targeted at individual South Korean consumers seeking personal health protection.
• Autonomous Vehicle Insurance Specialized insurance products for autonomous vehicles developed through a consortium of non-life insurers under the K-autonomous driving cooperation model in Gwangju, gathering data to support coverage for autonomous driving risks.
• Middle East Risk Coverage Products Insurance coverage products addressing risks from prolonged tensions and disruptions in the Middle East, particularly along the Strait of Hormuz, with associated reinsurance arrangements to manage elevated reinsurance premiums and potential large claims.
• Small Merchant Free Coverage Program Free indemnity and flood insurance for small business owners with annual sales of 300 million won or less, funded by a 30 billion won government fund. Aimed at protecting small South Korean merchants from business interruption and flood-related losses.

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• DB Insurance: Direct Korean non-life insurance competitor explicitly cited in KB Insurance's competitive set and a co-participant in the K-autonomous driving consortium. Overlapping product portfolio in auto, health, and commercial lines.
• LIG Insurance: Korean non-life insurer with overlapping auto, casualty, and specialty product offerings that compete directly with KB Insurance in the domestic market.
• Heungkuk Fire & Marine Insurance: Smaller Korean non-life insurer offering personal and commercial lines comparable to KB Insurance, competing for the same customer base within South Korea.
• Hyundai Marine & Fire Insurance: Major Korean non-life insurance carrier competing directly with KB Insurance across auto, property, and specialty lines. Listed alongside KB Insurance in the K-autonomous driving insurance consortium in Gwangju.
• Samsung Fire & Marine Insurance: Largest non-life insurer in South Korea and a direct competitor named in KB Insurance's GTM context, including co-participation in the K-autonomous driving consortium. Comparable across all major non-life product lines and customer segments in the Korean market.
• Hanwha General Insurance: Korean non-life insurance carrier and named competitor of KB Insurance, also part of the K-autonomous driving consortium. Operates comparable personal and commercial insurance product lines within the Korean market.
• Meritz Fire & Marine Insurance: Established Korean non-life insurance competitor offering auto, property, and specialty coverage comparable to KB Insurance's portfolio. Operates within the same regulatory and distribution environment in South Korea.

Broad incumbents

• AXA Korea: Subsidiary of global insurer AXA operating in Korea across general insurance and protection lines. Broader incumbent offering overlapping non-life capabilities as part of an international portfolio rather than Korea-specialized focus.
• Chubb Korea (ACE Insurance): Korean operations of global specialty insurer Chubb, offering personal accident, property, and specialty coverage that overlap with KB Insurance's product lines, particularly in specialty and emerging-risk segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/kbistory

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KB Insurance