Product for Freelance Riders with Personal Vehicles
"Rider Safety Guarantee... Minimum Reduction in Insurance Premium Burden"
[Asia Economy Reporter Kim Bo-kyung] Delivery agency company Logiol announced on the 26th that it has signed a Memorandum of Understanding (MOU) with DB Insurance and has begun developing a "time-based paid transportation insurance for Saenggakdaero riders."
The MOU signing ceremony took place on the 25th at the DB Financial Center headquarters in Seoul, attended by Logiol CEO Chae Heon-jin and DB Insurance Vice President Lee Chang-soo. According to the agreement, DB Insurance will support the development, operation, and accident handling of insurance products for Saenggakdaero riders, while Logiol will provide data for product advancement and cooperate in development.
The insurance introduced by Logiol is a paid transportation insurance for two- and four-wheeled vehicles applicable in one-minute increments, specialized for freelance riders who own their vehicles. While existing insurance calculated premiums in 10-minute or one-hour units, the Saenggakdaero product is being developed to measure the actual working time precisely in minutes, reducing the insurance premium burden.
A Logiol representative stated, "The primary goal is to ensure the safety of riders who were previously in an insurance blind spot because they could not afford paid transportation insurance premiums, and the secondary goal is to help reduce fixed costs by minimizing riders' insurance premium burdens."
The two companies plan to closely cooperate to develop rider-customized products that maximize the income and safety of affiliated riders, with actual implementation planned for the second half of this year.
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