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Green Ribbon

Category: AI in Healthcare

A healthcare and insurtech data platform company that utilizes AI to resolve information asymmetry by discovering unclaimed insurance benefits and optimizing clinical trial participant recruitment. Green Ribbon was founded in 2020. The company is led by Gyuri Kim. Based in Daejeon, South Korea. Team size: 10-50. Total funding raised: $1.41M (KRW 1.9B). Latest round: Pre-Series A. Key investors include IBK Capital, Tap Angel Partners, Industrial Bank of Korea (IBK), NICE Group.

Founded
2020
Headquarters
Daejeon, South Korea
Team size
10-50
Total funding
$1.41M (KRW 1.9B)

Value proposition

Automates the identification of missed insurance claims for consumers and reduces clinical trial delays for pharmaceutical companies by using AI-driven patient suitability scoring.

Products and solutions

LifeCatch (라이프캐치): AI-based B2C platform for searching and claiming missed insurance payments, GreenScout (그린스카우트): B2B clinical trial recruitment and patient management platform, B2B Insurance Payment Screening: Automated solutions for insurers to manage risk and streamline claim processing, Medical Document Proxy Service: Infrastructure for automated issuance of hospital documents for claims

Unique value

The only platform in Korea that bridges insurance data with clinical trial recruitment, addressing the 80% failure rate in trial patient recruitment through data-driven suitability scoring.

Target customer

Individual insurance policyholders (B2C), Pharmaceutical companies, CROs, Hospitals, and Insurance companies (B2B)

Industries served

Insurtech, Healthcare AI, Pharmaceuticals, Fintech

Technology advantage

Proprietary AI algorithms for medical expense-based diagnosis code prediction, patient suitability scoring, and hospital-unit optimal site recommendations for clinical trials.

How they differentiate

While competitors focus on policy management and recommendations, Green Ribbon's 'LifeCatch' utilizes AI to scrape 3 years of historical medical data to identify and recover specifically 'unclaimed' insurance benefits. Its 'GreenScout' platform further differentiates by using this insurance/medical data to match patients with clinical trials, a pivot not seen in standard insurtech rivals.

Main competitors

Signal Planner (Habit Factory), Bomapp, LemonCare (LemonCloud)

Key partnerships

Novartis (Winner of the 6th Novartis HealthX Challenge), Dongguk University Hospital, Cha University Hospital, NVIDIA (Selected for NVIDIA Inception Program), IBK Capital (Strategic Investor)

Notable customers

Novartis (Strategic Partner), Cha University Hospital, Dongguk University Hospital

Major milestones

Winner of the 6th Novartis HealthX Challenge (2024), Selected for NVIDIA Inception Program (2025), Selected for 'Innovation Premier 1000' by Korean financial authorities (2025), Selected for the government-backed TIPS program (2023), Participated in Bio Japan 2025 to expand healthcare data business

Growth metrics

Reached 2.2 million users for flagship service 'LifeCatch'; Reported 2023 revenue of KRW 1.33B (approx. $1M).

Market positioning

Specialized Insurtech and Healthcare AI data platform provider

Geographic focus

South Korea (Primary), Japan, and Global Markets (via Novartis partnership)

Patents and IP

Holds patents including 'Environmental Variable Control and Medical Expense-based Diagnosis Code Prediction System' and core technologies for insurance fraud detection and payout calculation.

About Gyuri Kim

Gyuri Kim is the Founder and CEO of Green Ribbon, established in 2020. She has led the company to become a prominent player in the Insurtech and Healthcare AI space, winning the 6th Novartis HealthX Challenge and being selected for the NVIDIA Inception Program. Her expertise lies in utilizing health and insurance data to resolve information asymmetry between insurers and consumers. She has also expanded the company's scope into AI-based clinical trial recruitment through the 'GreenScout' platform.

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