Mesh Korea Introduces Fixed-Amount Time-Based Insurance for Two-Wheelers

KB Insurance and Gogo F&D Sign Business Agreement for Development and Operation of Time-Based Insurance

Mesh Korea, the operator of the delivery agency platform 'Vroong,' will introduce a fixed-rate hourly insurance for two-wheeled vehicles. Mesh Korea (CEO Kim Hyung-seol) announced on the 4th that it has signed a business agreement with KB Insurance and Gogo F&D to develop and operate fixed-rate hourly insurance for two-wheeled vehicles.

The fixed-rate hourly insurance for two-wheeled vehicles is a low-cost insurance product that combines the advantages of hourly insurance, where premiums are charged only for the hours spent delivering, with the benefits of a fixed-rate product that sets a daily premium cap, so even if usage time increases, only the maximum premium needs to be paid.

Mesh Korea is signing a business agreement with KB Insurance and Gogo F&D to develop and operate a fixed-amount hourly insurance for motorcycles. (From left) Byungjun Choi, Executive Director of Mesh Korea; Minki Kim, Executive Director of KB Insurance; Seongyong Ha, CEO of Gogo F&D.

In the case of delivery rider insurance, the premium burden was high, so some part-time riders subscribed to cheaper home insurance and delivered. However, home insurance does not cover accidents that occur during delivery. Mesh Korea expects that the introduction of this fixed-rate hourly insurance will reduce riders' premium burdens and expand insurance subscriptions that fit their usage purposes.

Mesh Korea plans to quickly complete the development of fixed-rate hourly insurance with KB Insurance and Gogo F&D and actively inform riders. Choi Byung-jun, Chief Operating Officer (COO) of Mesh Korea, said, "In addition to introducing the first fixed-rate hourly insurance for delivery agencies, Mesh Korea has taken the lead in creating an environment where riders can work with peace of mind by joining the Delivery Service Mutual Aid Association." He added, "Based on our experience in establishing delivery agency services through technological innovation, we will continue to innovate in all areas of customer service."