Jeong Su-bong (from left), managing partner at law firm Taepyong; Park Sang-gyu, executive vice president at KB Insurance; and Lee Pyeong-ro, deputy CEO of Smallticket, pose for a photo at the MOU signing ceremony held Monday at Taepyong's headquarters in Jongno-gu, Seoul. [KB Insurance]
Jeong Su-bong (from left), managing partner at law firm Taepyong; Park Sang-gyu, executive vice president at KB Insurance; and Lee Pyeong-ro, deputy CEO of Smallticket, pose for a photo at the MOU signing ceremony held Monday at Taepyong's headquarters in Jongno-gu, Seoul. [KB Insurance]

KB Insurance signed a joint cooperation MOU for AI- and data-based industrial safety and serious accident prevention with law firm Taepyong and insurtech company Smallticket on Monday at Taepyong's headquarters in Jongno-gu, Seoul, the company announced Tuesday.

Through the agreement, KB Insurance is joining forces with legal and technology specialists to overhaul safety management in the delivery and logistics industry. The partnership combines KB Insurance's insurance, financial services and risk management capabilities with Taepyong's legal expertise in industrial safety, serious accident punishment and labor law, Smallticket's AI- and data-driven safety management platform operations, and the aim of advancing safety practices and preventing serious accidents before they occur.

Data obtained by People Power Party lawmaker Kim Wi-sang from the Korea Workers' Compensation and Welfare Service show the number of approved workers' compensation claims in the delivery sector nearly tripled, from 561 in 2021 to 1,516 in 2025. Of those cases, 88.5 percent involved accident-related injuries, underscoring the growing need for stronger safety management across the industry.

Specific areas of cooperation include joint consulting and education seminars, development of services linking industrial safety legal content with the AI platform, and enhancement of insurance products based on risk management data. The three parties plan to pursue additional collaborative projects in phases.

Park Sang-gyu, executive vice president and head of KB Insurance's general insurance division, said the core of the agreement is "creating an insurance product structure that delivers real benefits to businesses with higher safety standards." He added that the company would "build a virtuous cycle in which data-based risk management lowers the loss ratio and those gains feed back into greater stability on the ground."


psj@heraldcorp.com