DB Insurance and AI Yangjae Hub Sign Business Agreement to Support AI Innovation Insurtech Companies

Building AI Technology Demonstration Cases in the Insurtech Sector

[Asia Economy Reporter Ki Ha-young] DB Insurance announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with AI Yangjae Hub to support the entry and growth of innovative artificial intelligence (AI) companies in the insurtech sector.

Through the MOU signed the previous day, both organizations will provide AI startups residing in AI Yangjae Hub with business collaboration opportunities in the insurtech field, and will promote commercialization after proof-of-concept testing. They will also cooperate to support the growth of AI startups by providing insurtech consulting. Starting with a roundtable meeting for companies residing in AI Yangjae Hub, they plan to jointly plan and execute various programs.

A DB Insurance official stated, "Through this agreement, we expect to build a win-win cooperation network with outstanding AI startups and create proof-of-concept cases of AI technology in the insurtech sector."

Meanwhile, AI Yangjae Hub is an AI-specialized support and development institution established by the Seoul Metropolitan Government to foster the AI industry and strengthen competitiveness. Since last year, it has been jointly operated by Kookmin University and the Electronics and Telecommunications Research Institute, nurturing AI-related professionals and discovering and fostering AI-specialized companies.

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