Koop Technologies, an insurance technology company focused on the robotics ecosystem, recently announced a strategic investment from Hyundai Motor Company and Kia Corporation to boost product development and distribution capabilities for autonomous vehicles and robotics. The investment will enable Koop to increase the adoption of robotics-based products and services through proprietary risk evaluation and convenient delivery of new insurance coverages. Rapid advancements in automation technologies have been driven by labor shortages and their associated costs, with the robotics sector witnessing a growth rate nearly double over the past two years. Koop sets itself apart by filling the gap in the insurance sector, which lags in adapting to robotics. Hyundai and Kia invested in autonomous vehicles, mobile robotics, and air mobility, all requiring financial protection for commercialization.
Related Posts
