– Embedding AI Across Insurance Processes…Building a Long-Term “Tech Companion” Partnership –
SEOUL, South Korea, July 22, 2026 /PRNewswire/ — MegazoneCloud (CEO: Yeom Dong-hoon), a leading AI and cloud company, has signed a strategic memorandum of understanding (MOU) with Korean Reinsurance Company (hereinafter “Korean Re,” CEO: Won Jong-kyu), one of the world’s top 10 global reinsurers, to accelerate AI transformation (AX) across the reinsurance business.
The two companies held a signing ceremony on July 22 at Signature Towers Seoul and agreed to combine their expertise in generative AI, big data and cloud technologies to drive operational innovation and productivity improvements in the reinsurance industry. They will also jointly identify and pursue new business opportunities to promote mutual growth and maximize their market competitiveness.
Through this agreement, the two companies will establish a long-term “Tech Companion” partnership that extends beyond one-off system implementation projects. Going forward, they plan to collaborate on ▲enhancing reinsurance contracting and underwriting processes using generative AI and data solutions ▲building risk prediction systems based on big data analytics ▲expanding enterprise-wide business automation, including AI-powered robotic process automation (AI RPA), in a cloud-native environment ▲developing new financial business models through globally connected infrastructure.
Under the partnership, MegazoneCloud will support operational innovation by applying AI across Korean Re’s end-to-end reinsurance business processes. By integrating AI into core insurance functions such as underwriting and rate setting, rather than focusing solely on infrastructure management, MegazoneCloud aims to deliver tangible benefits, including productivity gains and cost reductions, and contribute to optimizing Korean Re’s return on investment (ROI). In addition to providing AI systems, MegazoneCloud will support change management—including enterprise governance and user training—to help Korean Re achieve organization-wide transformation and build an AX-ready corporate culture.
Korean Re has identified AI as a key driver of its future competitiveness in the reinsurance market. To promote AI-driven operational innovation, the company established an “AI Innovation Task Force” last year and has since been working closely with MegazoneCloud. As their first joint project, the two companies are developing the financial industry’s first “AI Assistant for Commercial Insurance Rate Calculation.” In March of this year, the project was designated as an Innovative Financial Service under the Financial Services Commission’s regulatory sandbox program, positioning Korean Re at the forefront of AI adoption in the insurance industry. Korean Re is also working with MegazoneCloud to establish secure and sophisticated AI infrastructure within the financial sector’s stringent regulatory environment, including the implementation of an “internal generative AI network” designed to comply with rigorous security and network separation requirements.
Jae Moon Lee, CIO of Korean Re, said, “Because reinsurance requires the analysis of vast amounts of data to assess diverse risks and support complex decision-making, the ability to leverage AI will be a critical factor in determining future competitiveness. Through our long-term partnership with MegazoneCloud, we will continue expanding AI services that deliver tangible benefits to employees in their day-to-day work and further strengthen our digital competitiveness in the global reinsurance market.”
Seong Bae Kong, CAIO of MegazoneCloud, said, “AX in the reinsurance sector requires the use of multiple agents to process complex variables simultaneously, making sophisticated orchestration essential. Drawing on our successful experience delivering demanding AX projects for major commercial banks and securities companies, MegazoneCloud will serve as an ‘AI Orchestrator’ that goes beyond infrastructure implementation to take responsibility for the integrated control of multiple AI models and secure financial networks, as well as organization-wide change management.”
MegazoneCloud is a leading AI and cloud-native company with more than 2,000 AI and cloud experts. Serving as an enterprise AI orchestrator, the company supports AI transformation (AX) and business innovation for more than 8,000 customers in Korea and worldwide. Leveraging its ecosystem of major global and domestic cloud service providers (CSPs), more than 200 independent software vendor (ISV) partners and its proprietary cloud, AI, data and security solutions, MegazoneCloud provides end-to-end services—from AI strategy development and data foundation building to infrastructure modernization and the development and operation of AI models and AI agents—enabling enterprises to manage increasingly complex AI environments and generate tangible business outcomes in the multi-agent era. Under its vision, “Transform Tomorrow, Together,” MegazoneCloud has established itself as a strategic partner supporting customers’ AI innovation and growth across 10 countries, including Korea, North America, Japan, Southeast Asia, Oceania and the Middle East. [End]
View original content to download multimedia:https://www.prnewswire.com/news-releases/megazonecloud-and-korean-re-sign-strategic-agreement-to-advance-ax-302832812.html
SOURCE MegazoneCloud
