Newbility Partners with DB Insurance for Autonomous Driving Robot Insurance Collaboration

MOU for Insurance Product for 'Autonomous Driving Robot Service'

CEO Lee Sang-min of Newbility (right) and Executive Director Kim Byung-eun of DB Insurance are signing an MOU and posing for a commemorative photo.

[Asia Economy Reporter Kim Cheol-hyun] Newbility (CEO Lee Sang-min) announced on the 31st that it has signed a business agreement with DB Insurance to provide an 'indoor and outdoor autonomous driving robot service insurance product.'

The two companies have agreed to jointly develop and operate a dedicated insurance product specialized for outdoor autonomous driving robot delivery services. They plan to continuously collect and analyze accident data that may occur in the future and to advance reasonable insurance products tailored to the autonomous driving robot delivery service patterns.

The insurance product being developed will provide comprehensive compensation for personal and property damages caused to pedestrians, automobiles, motorcycles, etc., during the robot's autonomous driving process. Currently, it is primarily applied to robots operating delivery services under the regulatory sandbox demonstration exception, with maximum compensation limits set at 1 billion KRW for property damage and 180 million KRW for personal injury liability damages, respectively.

Lee Sang-min, CEO of Newbility, said, "Newbility has continuously developed technology to safely perform autonomous driving services in urban areas, and through this insurance product collaboration with DB Insurance, we aim to provide a higher level of service environment." He added, "We will make every effort to advance the service to provide safe and convenient autonomous driving robot delivery services to various corporate clients and citizens in the future."