PRESS RELEASE

360F and SBCN Announce Strategic Partnership in South Korea

This deal will localize 360-ProVestment® to integrate with the life insurers in South Korea.

16 December 2019, South Korea/Singapore – 360F, the trailblazing insurtech behind the behavioral finance-driven autopilot for financial happiness “360-ProVestment®”, and SBCN, leading fintech firm in South Korea for its artificial intelligence and big data financial applications, are proud to announce a software development and distribution partnership today. The co-operation will accelerate 360F’s global footprint in East Asia and advance its A.I. development.

As a start, both companies will focus efforts in localizing 360-ProVestment® to integrate with the life insurers in South Korea. 360F’s flagship product enables financial advice to not only be optimized for insurance and investments but also measurable in the context of the end customer’s self-defined financial happiness.

360-ProVestment® hyper-personalises the financial advice systematically and views the customer as a unique individual. It integrates itself into the financial institution’s existing customer journey, and then transforms customer data into a mathematical utility function unique to the customer. This function reflects the customer’s financial needs, aspirations, lifestyle preferences and constraints such as money and time.

This function allows a numerical and personalized score, which is called “HappiU” to be associated with the candidate products and/or solutions’ effect on the customer’s financial resilience and happiness, which they have defined for themselves. With this, the application goes on to prepare scenarios for stress testing.

360-ProVestment® treats risk as a statistical and probability concept. It constructs on average 3,000,000 multi-factor scenarios over the customer’s planning duration. These scenarios are based on the customer’s own mortality and morbidity risk probabilities and market risk exposure, using their input on factors such as their age and gender, and comparing their profiles with actuarial data.

360-ProVestment® then stress-tests the millions of possibilities within seconds to construct a financial solution that not only matches the customer’s preferences, but also yields the highest fulfilment in terms of their own self-defined financial resilience and financial freedom. The customer is free to explore alternative scenarios – all of which are based on his or her own data – before settling on what they personally find most perfect for them.

Meanwhile, SBCN is reputable for its real-time big data processing and A.I. strategy generation, and development capabilities to meet the needs of the financial institutions.

“With 360F algorithm and SBCN’s AI technology, we will be able to achieve good results in the insurance and asset management fields using robo-advisor in the Korean market”, Daniel Sohn co-founder of SBCN mentioned. “The collaboration between insurtech and robo-advisor leaders will provide better services to the customers and we look forward to great achievements in the future” added John Lee, co-founder of SBCN.

“This cooperation is an important milestone in our globalization journey. Having entered and analyzed the South Korean market through the K-Startup Grand Challenge where 360F has been listed as top 40 most innovative companies, we are convinced of 360-ProVestment®’s relevance in this country”, 360F’s CEO Michael Gerber noted. “SBCN’s openness and innovative thinking is a good match for 360F. “We look forward to making a meaningful impact together in South Korea” added Clarie Kwa, 360F Chief Market Officer.

ABOUT 360F

Having built the world’s first ever solutioning optimizer that synergizes life insurance and wealth management, 360F automates solutions that have the best and self-verifiable fit for anyone, anywhere and anytime. This technology enables banks, insurers, wealth managers, agents and advisers to transform what’s usually a product-pushing and uncomfortable exercise for their customers into an intuitive, assuring and motivating one. We help to keep up the momentum of this transformed experience by additionally offering our expertise to build and integrate the infrastructure for seamless and instant execution – making advisory a highly scalable business.

360F is officially ranked top 10 Singapore’s Fastest Growing Companies in 2022, as compiled by Singapore local and national newspaper, The Straits Times, and research firm Statista. It is also among the top 20 in the 2019 Global Fintech Hackcelerator organized by the Monetary Authority of Singapore and Winner of the Insurance vertical in the 2020 Hong Kong Fintech Week’s Global Fast Track Programme.

360F is headquartered in Singapore.

www.360f.com

ABOUT SBCN

SBCN is a Korea-based corporation, leading the A.I. and big data industry in the financial market. To date, it has successfully developed platforms for big data processing and artificial intelligence, refining financial big data in real time and generating AI strategies. SBCN is an award-winning graduate of the Hanwha Dream Plus accelerator program and has attracted investments from conglomerates including the Shinhan group.

www.sbcn.co.kr

Media Contact:

Clarie Kwa

Chief Market Officer, 360F

+65 8163 3989

clarie.kwa@360f.com

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