South Korean AI insurtech startup SOLUTUS has secured a strategic investment from the DB Digital Innovation New Technology Fund, which is backed by DB Insurance. SOLUTUS stated that the investment reflects strong recognition of the company’s technological capabilities and execution power in addressing structural challenges in the insurance industry.

To resolve the fundamental issue of information asymmetry faced by insurance consumers, SOLUTUS has developed and operates Lifree, an AI-powered insurance platform designed in-house. To date, seven major domestic insurance companies have integrated SOLUTUS’s APIs into their operations. The technology is actively being used in real-world applications such as customer consultation automation, insurance payout predictions, coverage analysis, and plan optimization based on incident types.

Founded in 2019 by CEO Seungwoo Kang, who brings extensive hands-on experience from the insurance sector, SOLUTUS began by collecting thousands of insurance consultation records and policy documents. These were manually refined and analyzed to build proprietary training datasets, which later served as the foundation for the development of the company’s own algorithms and large-scale insurance AI models.

SOLUTUS’s technological excellence was further validated when it was selected for the Google for Startups AI Program in 2024, receiving cloud and technical resources valued at approximately USD 364K(KRW 480 million).

With this latest investment, SOLUTUS plans to focus on expanding its team of AI experts, advancing its analytical models, and broadening its AI-driven services for insurance planners and end-users. Looking ahead, the company aims to extend its services beyond the B2B insurance sector into B2C offerings such as personalized insurance recommendations and automated insurance analysis reports, while also forging global partnerships to enter international insurance markets.