DB Insurance announced on July 1 that it had signed a "strategic business partnership agreement for providing auto insurance services to foreigners" with Hanpass, a comprehensive financial platform company for foreigners, in May.
Hanpass is a fintech company that offers overseas remittance services to foreigners, international students, and overseas Koreans. It is also emerging as a comprehensive financial platform for foreigners in Korea.
Through this agreement, the two companies plan to cooperate in various areas, including providing auto insurance subscription services for foreigners and jointly developing related value-added services.
DB Insurance expects that this partnership will improve the accessibility and convenience of auto insurance services specialized for foreigners, and serve as a foundation for market activation and the creation of new services. Currently, the two companies are jointly providing auto insurance services exclusively for foreigners, which can be subscribed to via the Hanpass application.
A DB Insurance representative stated, "Through our collaboration with Hanpass, we expect to actively expand the auto insurance market for foreigners and provide more reliable insurance services," adding, "We will continue to introduce customer-centric innovative services through various partnerships in the future."
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