Inka Financial Services Expands Comprehensive Asset Management with MyData... Signs MOU with IGnet

(From left) Byungchae Choi, Chairman of INKA Financial Services, and Changgyun Kim, Chairman of IGnet, are taking a commemorative photo after signing a Memorandum of Understanding (MOU). (Provided by INKA Financial Services)

Inka Financial Services, a KOSDAQ-listed company (co-CEOs Byungchae Choi and Daekwon Cheon), and IGnet, an insurtech company (co-CEOs Changkyun Kim and Jitae Kim), announced that they have signed a Memorandum of Understanding (MOU) for the joint development of a comprehensive asset management service based on MyData.

Under this agreement, IGnet will provide MyData analysis results—obtained with the consent of the data subject—to Inka Financial Services, and will plan a dedicated platform to operate based on these results. The companies aim to collect and analyze customers' insurance subscription details and financial status—including data scattered across various financial institutions—to design asset management services tailored to individuals' circumstances.

This service development is seen as a response to the structural shift within the insurance distribution market. In July, the "1,200% rule," which limits the first-year solicitation commission to no more than 12 times the monthly insurance premium, was extended to planners affiliated with general agencies (GA). According to the companies, this has prompted a change in industry competition from one centered on onboarding incentives to one focused on analyzing and utilizing customer-consented data.

Partner company IGnet is Korea’s first publicly traded insurtech firm, operating an AI-based insurance diagnostic platform called "Bodak," which has continuously developed its data analysis capabilities. IGnet excels in insurance data refinement technologies, enabling rapid and accurate matching and analysis of individualized information—including specific coverage details, MyData average statistics, and occupational groups—to diagnose customers’ coverage vulnerabilities. As of the end of August, Bodak’s cumulative number of subscribers surpassed 1.13 million.

The two companies plan to create an integrated counseling system that combines Inka Financial Services’ nationwide in-person sales network with IGnet’s data analytics technology, thus bridging online and offline channels. IGnet’s insurance data processing technology will be expanded across all financial MyData sectors to assess customers' financial situations via data, with field financial advisors (FAs) conducting face-to-face consultations based on these assessments. This structure will enable Inka Financial Services' affiliated planners to advise customers using data-driven financial diagnoses.

In particular, this service specifically targets the asset-owning demographic in their 40s to 60s—a group largely unreached by app-based asset management services. The more complex one’s assets and financial transactions, the harder it is to make decisions within an app; furthermore, issues such as retirement planning and inheritance or gifting are significant enough that these clients strongly prefer in-person consultations. The company believes that a model where experts on-site directly explain data-driven results can fill this gap.

Inka Financial Services is already equipped with organizations that handle areas beyond insurance. Subsidiaries such as Hexagon Investment Advisory and Inka Mortgage are responsible for investment advisory and loan brokerage, respectively, and in-house, the Retirement and Inheritance/Gift Research Institute continues research and planner training related to asset succession.

By adding MyData, the company can now provide a comprehensive overview of each customer’s financial situation from the outset and connect them to the necessary consultations. This structure naturally extends consulting services from insurance to retirement preparation, asset succession, and funding arrangements through financial analysis. Each area is handled by staff with the required certifications and registrations. Certified planners can consult on multiple areas simultaneously; if not, and the customer consents to share information, the company then connects them to a qualified specialist. This is why the company regards this agreement as a turning point for expanding into comprehensive asset management.

With the onset of an aging society, demand among high net-worth individuals for stable cash flow and asset transfer solutions after retirement is rapidly increasing. As a result, hyper-personalized financial curation—beyond simple insurance product sales—is emerging as the key competitive advantage for the future market.

A representative from Inka Financial Services said, “By utilizing MyData for service development, we will provide customers with optimal financial solutions and offer planners a differentiated business environment,” adding, “We will continue to cooperate with platforms that possess excellent technological capabilities.”

Inka Financial Services remains the only KOSDAQ-listed GA in Korea, with more than 25,000 affiliated FAs. In 2025, the company surpassed 1 trillion won in annual sales for the first time since its founding, and in the first half of 2026 it achieved record-breaking biannual results, posting sales of 640 billion won and operating profit of 58.3 billion won. The company is proceeding step by step toward becoming a comprehensive asset management firm.

This content was produced with the assistance of AI translation services.