DB Insurance Opens Recruitment for 2nd Batch of Insurtech Startup Acceleration Program

Providing Joint Commercialization Opportunities

DB Insurance announced on the 22nd that it is recruiting startups to participate in the 2nd batch of the "Insurtech Startup Incubation Program" in collaboration with the Korea Internet & Security Agency until April 16.

[Asia Economy Reporter Oh Hyung-gil] DB Insurance announced on the 22nd that it is recruiting startups to participate in the 2nd 'Insurtech Startup Incubation Program' in collaboration with the Korea Internet & Security Agency (KISA) until April 16.

Startups are being recruited in all areas that can be linked with insurance, including healthcare, untact business, subscription services, pets, mobility, object recognition/analysis, renewable energy, and deep learning. Any startup with innovative technology and services can apply.

Selected companies will receive mentoring from insurance business and service experts, professional coaching on insurtech business strategy development and IR pitching, opportunities to participate in startup IR pitching, and preferential benefits when applying for credit guarantee funds. Additionally, upon final selection for commercialization, joint commercialization opportunities with DB Insurance will be provided.

Companies wishing to participate in the 2nd program can apply through the KISA website, and up to seven companies will be selected through document screening and presentation evaluation.

In last year's 1st program, a total of five companies (MyPuppy, Byeolddareogaja, Bagel Labs, ID Lab, Oatworks) were nurtured, and through joint commercialization with MyPuppy, a pet shop-exclusive insurance is scheduled to be launched in the first half of 2021.

Ko Young-joo, Vice President of DB Insurance’s Strategy Innovation Office, stated, "We will build an insurtech ecosystem where excellent startups’ technological capabilities are linked with insurance business, enabling mutual growth between startups and insurance companies." He added, "As a leading insurer, we plan to take the lead in digital innovation and the activation of insurtech."

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