'DB G-Star Hub' Kicks Off
Competition Ratio of 30 to 1... Proof-of-Concept Projects with AI, Chatbots, and More
DB Insurance announced on May 7 that it had selected the final five startups for the 'DB G-Star Hub,' an open innovation program jointly promoted with the Gyeongbuk Creative Economy Innovation Center, and held a kickoff event at the DB Financial Center in Daechi-dong, Gangnam-gu, Seoul on April 30.
DB Insurance held a commemorative photo session with participants of the 'DB G-Star Hub Kickoff Day' at the DB Financial Center in Daechi-dong, Gangnam-gu, Seoul on the 30th of last month. From the left: Sim Jinseop, Head of DB Insurance; Kim Jongho, CEO of Onus Linkit; Choi Seongpil, CEO of Datamond; Hwang Seonguk, CEO of Step How; Park Taeyoon, CEO of Pican Soft; Jung Wooju, CEO of Indie Jay; Lee Munrak, CEO of Gyeongbuk Creative Economy Innovation Center. DB Insurance
The G-Star Hub is an open innovation program designed to discover startups that can apply innovative technologies such as artificial intelligence (AI), big data, and platforms to the insurance industry.
The application period was held for about one month in February. A total of 154 companies applied, resulting in a competition ratio of 30.8 to 1. In early April, 11 startups that passed the document screening were evaluated based on business potential, innovativeness, and growth potential, and five companies were ultimately selected.
The selected companies are: Step How (knowledge management system), Pican Soft (leakage damage prediction and automatic compensation solution), Datamond (AI coaching chatbot for planners), Indie Jay (senior mental health management platform), and Onus Linkit (motorcycle loss ratio reduction and claims automation solution).
These companies will participate in follow-up programs such as proof of concept (PoC) and investment review in collaboration with relevant departments at DB Insurance. Mentor-mentee matching was completed during the kickoff event.
A DB Insurance representative stated, "We plan to actively support insurtech mentoring and investment review opportunities to foster joint growth with the selected startups."
Lee Munrak, CEO of the Gyeongbuk Creative Economy Innovation Center, said, "We thoroughly verified the technological capabilities and collaboration potential of the startups that were selected through high competition," and added, "We will provide support to facilitate joint business ventures between large corporations and startups."
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