Lotte Insurance announced on the 8th that it has launched 'Coupang Safe Care,' a damage insurance for self-supplied phones purchased from Coupang.
[Asia Economy Reporter Oh Hyung-gil] Lotte Insurance announced on the 8th that it has launched 'Coupang Ansim Care,' a damage insurance for self-supplied phones purchased on Coupang.
The insurance covers damage including water damage and fire, and compensates the actual loss amount within the insured amount limit if repair or replacement of the phone is necessary. The insurance period is one year from the delivery completion date without any mandatory contract period.
The premiums are 24,500 KRW for Basic, 45,900 KRW for Standard, and 50,900 KRW for Premium, payable in a lump sum at the time of initial subscription without any additional costs.
The Basic product offers coverage up to 600,000 KRW with a 30% deductible and two compensation claims, while the Standard and Premium products provide coverage up to 1,000,000 KRW and 1,500,000 KRW respectively, with a 50,000 KRW deductible and unlimited compensation claims.
A Lotte Insurance official stated, "This is significant as it represents the fruition of efforts to further activate Coupang and e-commerce and enhance the convenience of insurance subscription," adding, "It is an innovative case that equips new growth engines in the explosively growing e-commerce market by developing advanced insurance services."
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