Samsung Fire & Marine Insurance Signs Business Agreement with KG Mobility... Launching Integrated Vehicle Life Cycle Service

Samsung Fire & Marine Insurance announced on April 23 that it has signed a business agreement with KG Mobility for cooperation in mobility-linked business.

From the left, Byungchul Cho, Head of Product Strategy at KG Mobility, Junghyun Kwak, President of KG Mobility, Sangdong Lee, Head of Automobile Insurance Division at Samsung Fire & Marine Insurance, and Ilseok Oh, Head of Mobility Business Team at Samsung Fire & Marine Insurance, are taking a commemorative photo after signing the "Business Agreement for Cooperation in Mobility-Linked Business." Photo by Samsung Fire & Marine Insurance

The signing ceremony was held on April 21 at the headquarters of Samsung Fire & Marine Insurance in Seocho-gu, Seoul. Key executives from both companies attended the event, including Sangdong Lee, Executive Vice President of Samsung Fire & Marine Insurance; Ilseok Oh, Managing Director of Samsung Fire & Marine Insurance; Junghyun Kwak, President of KG Mobility; and Byungchul Cho, Managing Director of KG Mobility. The two companies discussed the direction of their collaboration. Through this agreement, Samsung Fire & Marine Insurance plans to establish an integrated mobility service that encompasses the entire vehicle life cycle, from new car purchases to insurance, operation, maintenance, and used car sales.

In particular, Samsung Fire & Marine Insurance will enhance its usage-based insurance (UBI) by utilizing driving data provided by KG Mobility, and will further refine its accident analysis and prediction systems. Additionally, by integrating its maintenance network and parts supply business in the vehicle maintenance phase, the company aims to provide customers with faster and more reasonable repair services.

The partnership will also be strengthened in line with the expansion of KG Mobility's used car business. Insurance services will be linked to the process of purchasing and selling certified used cars, actively attracting new customers and broadening customer contact points.

A representative from Samsung Fire & Marine Insurance stated, "This agreement is a meaningful starting point for building a new business model that transcends the boundaries between insurers and automobile manufacturers across the entire mobility sector. By combining the core competencies of both companies, we will provide customers with safer and more convenient experiences and continue a sustainable collaborative relationship."

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