New Business Initiatives in UAM... Samsung Fire & Marine Insurance Signs MOU with Related Companies

Development of Insurance Products Related to UAM

[Asia Economy Reporter Minwoo Lee] Samsung Fire & Marine Insurance has partnered with Mobivation, the operator of the urban air mobility (UAM) service platform 'BonAir,' and UI Helijet, a specialized aviation operation company. They plan to collaborate to create various aviation-related products and services.

Samsung Fire & Marine Insurance announced on the 20th that it signed this memorandum of understanding (MOU) at its headquarters in Seocho-gu, Seoul.

Accordingly, Samsung Fire & Marine Insurance, Mobivation, and UI Helijet plan to promote ▲ mutual cooperation in urban air and air transportation businesses ▲ joint development and operation of services such as aircraft maintenance industry and insurance ▲ sharing management information and experience to review the feasibility of new businesses.

Mobivation launched Korea's first urban air mobility platform 'BonAir' on the 2nd. Users can book an 'air taxi (helicopter)' via an app and travel between urban areas. Beta service is scheduled to be provided starting next month. UI Helijet is a specialized company in manned and unmanned aviation operations, currently operating helicopter businesses and new drone ventures.

Samsung Fire & Marine Insurance will begin developing insurance products related to urban air mobility based on the infrastructure and accumulated data established through Mobivation's 'BonAir' service.

Choi Jaebong, Vice President of Samsung Fire & Marine Insurance, said, "Investments and support for revitalizing the urban air mobility market are being promoted not only domestically but also worldwide," adding, "We hope that signing this MOU will serve as a starting point for mutual cooperation to secure and expand the UAM market, which is a future growth engine."

Choi Jae-bong, Vice President of Samsung Fire & Marine Insurance (left), Lim Sung-eui, Vice Chairman of UI Helijet (center), and Shin Min, CEO of Mobiation (right), are taking a commemorative photo after signing a business agreement at the Samsung Fire & Marine Insurance headquarters in Seocho-gu, Seoul on the 20th.