KB Insurance Launches 'KB?Petconomy Insurance,' Pet Insurance Enrollable with Just One Photo

[Asia Economy Reporter Oh Hyung-gil] KB Insurance announced on the 14th that it has launched 'KB Petconomy Insurance,' a direct mobile pet insurance that allows premium calculation and subscription with just one photo of a pet.

Until now, subscribing to pet insurance required entering animal registration numbers, vaccination records, or other medical records, or going through the cumbersome process of uploading multiple photos.

In particular, pets numbering two or more could not be insured under a single contract and had to be insured individually, but this insurance covers up to five pets under one contract.

Also, premiums are the same regardless of breed or age, and the premium is affordable at around 60,000 KRW annually (one-time payment basis), which is cheaper compared to existing pet insurance.

It newly includes coverage for essential costs when raising pets such as liability compensation, funeral expenses, advertising costs in case of loss, adoption and re-adoption expenses, as well as injury medical expenses for pets injured during walks or exercise.

Subscription is available through the KB Insurance mobile direct website or app.

Kim Seong-beom, Executive Director of KB Insurance Direct Headquarters, said, "Through pet insurance products incorporating insurtech, we will provide practical and differentiated benefits and services to households raising pets," adding, "We will strive to establish pet insurance as an affordable yet essential insurance."