[Asia Economy Reporter Seungjin Lee] GS25 is launching a pet insurance product.
GS25, a convenience store operated by GS Retail, announced on the 19th that it has exclusively launched the pet insurance product "Non-dividend HiPet Dog Insurance" in partnership with Hyundai Marine & Fire Insurance.
The HiPet Dog Insurance launched by GS25 this time is a product specialized in liability coverage and funeral expense coverage, unlike existing insurance products that focus on treatment cost coverage.
The coverage includes support up to 5 million KRW if the pet dog causes damage to another person's body or pet, and funeral expenses of 150,000 KRW in case of the pet dog's death.
Dogs registered with local governments (excluding some breeds) aged from 0 to 6 years old can apply, the insurance period is one year from the date of subscription, and the annual premium is 10,000 KRW (lump sum payment).
Customers who wish to subscribe can visit any GS25 store nationwide, enter their phone number at the checkout input window, then access the URL in the message received, input basic information about themselves and their pet dog, and pay the premium to easily subscribe.
The HiPet Dog Insurance will also be launched at the supermarket GS THE FRESH following GS25 convenience stores.
As the pet population continues to increase, GS25 expects this insurance product, which specializes in liability coverage for pet dogs and funeral expense coverage, to be very popular among customers, as disputes involving pets with others are increasing every year and pet funeral culture is spreading.
Meanwhile, GS25 has been continuously introducing differentiated pet products, including premium pet snacks under its own brand launched in 2018, pet disease test kits, joint supplements for dogs, and now this pet insurance.
A GS Retail official explained, "This pet insurance product was launched as part of efforts to spread a culture and institutional measures where people and pets can coexist in the era of 10 million pet population."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
