S2W (CEO Seo Sang-deok), a big data-based artificial intelligence (AI) security company, announced on the 1st that it signed a Memorandum of Understanding (MOU) with Samsung Fire & Marine Insurance (hereinafter referred to as Samsung Fire & Marine Insurance) for cooperation in the cyber insurance business. Through this agreement, the two companies plan to strengthen their cyber threat response capabilities and pursue joint projects to expand the cyber insurance market.
Key areas of cooperation under this MOU include: ▲ expansion of the cyber insurance market and cooperation in sales activities; ▲ sharing cyber threat information and establishing a joint response system; ▲ mutual support for business development and operations; and ▲ feasibility studies of new services and business models. The two companies plan to jointly develop a variety of cybersecurity-related insurance products and services targeting both businesses (B2B) and individuals (B2C).
Specifically, leveraging S2W's dark web-based cyber threat intelligence technology, the company plans to launch a comprehensive insurance-integrated service that includes: ▲corporate information leak diagnosis and reputation risk response services ▲individual information leak detection services. This is expected to provide customers with a proactive, proactive protection system that enables them to identify and respond to risks before they occur.
S2W's participation in this collaboration builds on its expertise in providing cyber threat intelligence (CTI) and security solutions to a diverse range of clients, including international organizations, government agencies, financial institutions, and large corporations. Samsung Fire & Marine Insurance, a leading domestic non-life insurance company, will leverage its insurance infrastructure and operational expertise to support customized cyber risk management and coverage systems for its customers.
Samsung Fire & Marine Insurance's Baek Dong-heon, head of the Special Business Division, said, "We will minimize cybercrime damage and contribute to creating a safe corporate management environment through customized insurance products and an incident response hotline tailored to each type of cyber risk."
S2W CEO Sang-Deok Seo said, “This collaboration is the starting point for building a new digital safety net that combines cybersecurity technology and insurance services,” and added, “We will continue to develop service models that can provide practical security benefits based on AI-based cyber threat response technology.”
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