Tinkware Develops Insurance Product Utilizing Black Box in Partnership with Hyundai Marine & Fire Insurance

Strategic Partnership Business Alliance Agreement

Tinkware announced on the 20th that it has signed a strategic partnership with Hyundai Marine & Fire Insurance to develop and operate insurance products based on connected black boxes.

Through this strategic partnership, Tinkware plans to combine the information analysis capabilities of its ‘iNavi Connected’ service and location-based services with Hyundai Marine & Fire Insurance’s expertise in insurance to promote the development and operation of new insurance products. Both companies expect to maintain their strategic alliance in the future, expanding their user base and creating new business models.

Yoon Young-sang, Executive Director of Hyundai Marine & Fire Insurance's Automobile Business Division (left), and Lee Jun-pyo, Senior Executive Director of Thinkware's Consumer Business Division, are posing for a commemorative photo.

As the first step of this partnership, a discount-type special clause for personal automobile insurance will be newly launched next month. The foundation of this agreement, the real-time communication service ‘iNavi Connected’ uses the Internet of Things to connect the black box and the driver’s smartphone app, providing ▲ impact alerts and image transmission during parking ▲ parking location and high-resolution image transmission ▲ driving record data service ▲ monthly report service ▲ smart remote video playback ▲ vehicle information display ▲ remote power control ▲ emergency SOS alerts, and more.

Lee Jun-pyo, Head of Consumer Business Division at Tinkware, said, “We have signed an MOU with Hyundai Marine & Fire Insurance to provide customers with various insurance products based on connected black boxes and to offer tangible benefits.” He added, “We plan to continuously develop leading products through business cooperation with Hyundai Marine & Fire Insurance related to insurance products in the future.”