DB Insurance Signs Agreement with Amas for Precision Inspection of Foreign Car Parts

On the 27th, at the DB Financial Center, DB Insurance Vice President Beomwook Lee and Aames CEO Wonjae Park signed a business agreement and are taking a commemorative photo. (From left)

[Asia Economy Reporter Changhwan Lee] DB Insurance announced on the 28th that it has signed a Memorandum of Understanding (MOU) with Aumes to support precision inspection and automated processing of foreign car parts.

Aumes is a startup that possesses an AI-based automobile accident estimation and damage assessment solution. It was selected for the 3rd Insurtech Startup Incubation Program operated by DB Insurance and the Korea Internet & Security Agency, where it conducted price verification of foreign car parts.

Both parties plan to jointly carry out projects in various fields requiring cooperation and linkage, including ▲ accident reporting and AI automobile accident estimation ▲ automation of automobile repair cost review ▲ sharing of related information, technology, and know-how ▲ feasibility study and research investigation.

A DB Insurance official stated, “We empathize with the issue of increasing financial consumer insurance premium burdens due to rising repair costs for foreign cars, and through the MOU with Aumes, we will do our best to establish a proper insurance culture regarding automobile repair costs and protect financial consumers.”