Up to 28% Discount When Joining with Group
Flight Delay Notifications and Insurance Claim Eligibility Check
Kakao Pay Insurance has launched a travel insurance product that offers discounts when just two people join together and allows users to customize coverage as much as they need.
Kakao Pay Insurance announced on the 9th that it has released this new "Overseas Travel Insurance."
Unlike existing overseas travel insurance policies that require mandatory coverage based on policy types, this product allows users to freely add or remove desired coverage. For example, if you are worried about motorcycle pickpocketing during a 4-day trip to Vietnam, you can choose only the 400,000 KRW coverage for personal belongings damage and pay 1,850 KRW. Alternatively, you can set insurance coverage costing 390 KRW that compensates if your flight is delayed by more than 2 hours or your luggage is delayed by more than 4 hours during the travel period.
There is also a benefit of discounted premiums when traveling companions join together. It is easy to sign up through the KakaoTalk friends list, and if two people join, a 5% discount is applied; if three or more join, the discount goes up to 10%.
The scope of compensation has also been expanded. Unlike existing insurance products that only provide compensation when an accident occurs during overseas travel, Kakao Pay Insurance’s overseas travel insurance offers all subscribers a "Safe Return Refund." This means that simply returning safely will refund 10% of the paid premium.
Various features inform users about the compensation they can receive. The "Flight Delay Automatic Notification" service is a representative example. By entering the flight number and setting notifications, Kakao Pay Insurance links with the airline to verify delays and informs customers of the delay and whether they can claim insurance benefits.
To celebrate the product launch, a promotional event is also underway. A 10% discount is offered when paying with Kakao Pay. This can be combined with the "Group Enrollment Discount." If three or more people join together, pay the premium with Kakao Pay (up to 30,000 KRW discount), and return safely, they can receive up to a 28% benefit.
This product can be purchased by adding Kakao Pay Insurance’s KakaoTalk Plus Friend channel or through the Kakao Pay insurance section up until just before departure. Detailed coverage and premiums can be checked through the company’s website disclosures.
Choi Sehun, CEO of Kakao Pay Insurance, said, "We focused on analyzing and resolving the inconveniences users experienced during the process of purchasing insurance and claiming benefits," adding, "We hope users will enjoy Kakao Pay Insurance services that accompany them not only in preparing for accidents but throughout the entire journey."
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