Reducing Insurance Premium Burden
Expanding Subscriber Age Range
1,198 Won per Hour · 6,770 Won Flat Rate per Day
Vroong announced on the 5th that it has introduced a motorcycle hourly insurance that lowers riders' insurance premium burdens and expands the age range of subscribers. The motorcycle hourly insurance is characterized by riders paying insurance premiums only for the time they perform deliveries. Compared to insurance for motorcycles used for paid transportation, the insurance premium burden is reduced, and riders can subscribe to insurance according to their driving time and purpose to receive compensation for accidents.
Vroong previously signed a business agreement with KB Insurance and Gogo F&D to develop and operate hourly insurance and has been continuously holding practical consultations to provide reasonable insurance to riders. The hourly insurance introduced by Vroong this time costs 1,198 KRW per hour. The maximum insurance premium charged per day is 6,770 KRW, which significantly reduces insurance costs for full-time riders who drive more than 8 hours on average per day. Compared to subscribing to a one-year paid transportation motorcycle insurance, it is explained that this motorcycle hourly insurance can save about 1 million KRW annually in insurance premiums.
The eligible age for subscription is from 21 to 65 years old. Also, the same insurance premium applies regardless of the motorcycle type. Vroong expects to contribute to resolving the blind spots in motorcycle insurance as the insurance threshold has been lowered. Choi Byung-jun, Vroong's Chief Operating Officer (COO), said, "We found the answer on the field to create an environment where riders can work more safely," adding, "We will strive for sustainable growth with our members by solving practical problems in the delivery field, such as the introduction of this motorcycle hourly insurance."
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