DB Insurance and Newbility Sign Insurance Agreement for 'Autonomous Driving Robot Service'

Team Leader Kim Byung-eun of DB Insurance and CEO Lee Sang-min of Newbility are posing for a commemorative photo after signing a business agreement. (From left)

[Asia Economy Reporter Changhwan Lee] DB Insurance announced on the 31st that it has signed a Memorandum of Understanding (MOU) with the robot delivery startup Newbility to provide an insurance product for indoor and outdoor autonomous robot services.

According to the company, Newbility's autonomous robot Newbee is designed to secure highly reliable autonomous driving performance, enabling it to recognize and avoid unexpected people and objects on pedestrian roads while driving.

This insurance product provides comprehensive coverage for personal and property damage caused to pedestrians, cars, motorcycles, etc., during the robot's autonomous driving process, and it was first applied to robots engaged in delivery services.

The maximum compensation limit is KRW 180 million for personal damage liability and KRW 1 billion for property damage liability, respectively.

A DB Insurance official stated, “As the autonomous driving robot market is expected to be activated following next year's legal amendments, we will take the lead in the development of the autonomous driving robot industry by creating optimized insurance products in synergy with Newbility.”