The investment, made through corporate venture arm Firemark Ventures, will give customers 24/7 mental health and safety support during natural disasters and major incidents.
The Shandong government-backed insurer expects its operating results to improve further over the next two years on disciplined underwriting and a conservative investment strategy.
AM Best assigned the single-parent captive an A- Financial Strength Rating and "a-" Long-Term Issuer Credit Rating, citing a balance sheet strength assessed as "very strong".
KIRI says a widening gap between driver expectations, insurer assessments, and review outcomes is driving higher dispute rates in Korea’s motor insurance market.
