Teameasy Wins TIPS Grant to Build Explainable AI for Used-Car Warranty Insurance

Teameasy, the South Korean fintech startup behind the used-car warranty insurance platform FINCAT, has been selected for the 2026 third-round general track of TIPS, a technology startup program run by the Ministry of SMEs and Startups. The selection follows a seed investment from the Korea Association of Industrial Intelligence (KAII).

TIPS is a private-investment-led R&D support scheme in which the government works with private investors to nurture startups with promising technology. Teameasy reached the final selection through investment and a recommendation from KAII, which operates the program slot.

What the R&D project covers

Under the grant, the company will advance two technologies for the multi-party workflows of used-car warranty insurance: explainable decision-making (XAI) and an AI that judges the risk of personal data being re-identified. The plan is to build a de-identification engine that controls sensitive personal identifiers in insurance claims and repair estimates in real time. The company will also complete an XAI engine that generates, in natural language, the legal and technical grounds for key payment and review decisions.

FINCAT's track record

Launched in Ulsan in January 2022, FINCAT is a B2B collaboration platform built for used-car warranty insurance. It standardizes a process that previously ran through phone calls and handwritten documents among insurers, loss adjusters and repair shops, folding it into a single workflow.

In 2025, FINCAT was chosen for a commissioned test under the Financial Services Commission's regulatory sandbox. It processed about 58,000 warranty claims worth a cumulative 19.7 billion won, which the company says validated its stability and efficiency in real-world conditions.

Teameasy has also obtained ISO 9001 (quality), ISO 14001 (environment) and ISO 27001 (information security) certifications, and in 2026 received venture company and social venture certifications from the Korea Technology Finance Corporation.

CEO Kook Sung-kwon said the field urgently needed standardized digital infrastructure because its processes and data are highly fragmented. He said the company will combine a privacy engine with explainable AI to improve efficiency and data transparency across insurance operations.