Digital non-life insurance company Carrot General Insurance announced on the 14th that the cumulative number of subscriptions to its per-mile auto insurance has exceeded 400,000.
[Asia Economy Reporter Oh Hyung-gil] Digital non-life insurance company Carrot Insurance announced on the 14th that the cumulative number of subscriptions to its Per-Mile Auto Insurance has exceeded 400,000.
Launched in February last year, Per-Mile Auto Insurance has shown continuous growth in subscriptions since surpassing 100,000 in January this year. The payment system is based on mileage, allowing customers to pay monthly in arrears only for the distance driven, and features IT-based services such as rapid accident reporting.
Active partnerships with major shareholders like SK Telecom and Hyundai Motor Company have also been cited as key factors in discovering new customers and driving growth.
Carrot Insurance developed its own safe driving scoring system and introduced the safe driving reward program 'Per-Mile Free Members.' Additionally, through a technical partnership with Korea Expressway Corporation, it is preparing a program aimed at promoting safe driving for freight vehicles, which have a high rate of major accidents.
A Carrot official stated, "Having recorded a cumulative subscription count of 400,000 vehicles in less than two years since launch, we are receiving positive evaluations and expect continuous growth," adding, "We will continue to introduce new services that combine technology and insurance."
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