Combining vehicle and insurance data

Foundation for accident prevention, claims efficiency and risk management

Seeking to improve profitability and customer experience

Advancing data-driven management across full vehicle lifecycle

SK Rent-a-Car co-CEOs Park Sang-wook and Shin Jeong-ho and Samsung Fire Executive Vice President Lee Sang-dong of the auto insurance division pose for a photo at the MOU signing ceremony held Tuesday at Samsung Fire's headquarters in Seocho-gu, Seoul. [SK Rent-a-Car]
SK Rent-a-Car co-CEOs Park Sang-wook and Shin Jeong-ho and Samsung Fire Executive Vice President Lee Sang-dong of the auto insurance division pose for a photo at the MOU signing ceremony held Tuesday at Samsung Fire's headquarters in Seocho-gu, Seoul. [SK Rent-a-Car]

SK Rent-a-Car announced Wednesday that it has partnered with Samsung Fire to combine vehicle operation data and insurance data, aiming to improve fleet efficiency and safety while jointly developing new business models in the future mobility sector.

The two companies signed a strategic business cooperation MOU to that effect on Tuesday. The signing ceremony was attended by key officials from both sides, including Samsung Fire Executive Vice President Lee Sang-dong of the auto insurance division, Senior Managing Director Oh Il-seok of the mobility business team, Senior Managing Director Kwon Young-jip of the auto insurance strategy team, SK Rent-a-Car co-CEOs Shin Jeong-ho and Park Sang-wook, and SK Rent-a-Car Asset Management Director Jo Hui-yeong.

Through the partnership, SK Rent-a-Car plans to advance data-driven vehicle operations and expand its business capabilities — moving beyond vehicle ownership and rental toward becoming a company that delivers mobility services based on vehicle operation data.

As a first step, the two companies will jointly develop and enhance a data-driven fleet management service. They will work to optimize decision-making across the full vehicle lifecycle — from purchase and operation to maintenance, accidents and resale — and explore ways to structurally reduce total cost of ownership.

The goal is to gain a more precise understanding of vehicle condition and operational risk by combining operation and management data accumulated through SK Rent-a-Car's integrated vehicle management solution SmartLink with Samsung Fire's risk analysis capabilities.

The companies will also conduct joint research on accident prevention, claims processing efficiency and per-driver risk management. The aim is to reduce customer inconvenience and vehicle operation losses caused by accidents, while improving both the profitability of the car rental business and the overall customer experience.

The partnership will also pursue new business models in the future mobility space. The two companies plan to jointly research insurance and service products that combine SK Rent-a-Car's vehicle operation expertise with Samsung Fire's risk management capabilities in emerging markets such as electric vehicles, connected cars and autonomous driving. They will also explore cooperation opportunities in autonomous vehicle operations and related infrastructure, and look to expand into fleet-as-a-service offerings that integrate vehicle operation and management — broadening their role within the mobility ecosystem.

"This agreement is meaningful in that it combines the expertise of both companies to explore new business possibilities in the future mobility sector," a Samsung Fire official said. "We will work with SK Rent-a-Car to develop business models suited to the evolving mobility environment and to provide customers with safer and more convenient services."

"This agreement is an opportunity to combine vehicle operation data and insurance data to improve operational efficiency across the full vehicle lifecycle and to turn insurance and risk management into a competitive business advantage," an SK Rent-a-Car official said. "We will improve both profitability and the customer experience through data-driven vehicle management, develop new business models in the future mobility sector, and evolve into a mobility service company built on vehicle operation data."

Meanwhile, SK Rent-a-Car plans to convert the vehicle pickup process at its Jeju branch to a contactless system by the end of this month, as part of efforts to enhance the experience for Jeju travelers through premium vehicles and hotel-level customer service.

The company also plans to shorten vehicle pickup wait times after handover and expand both the range of vehicles available to suit different travel purposes and the scope of local partnership benefits.


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