Lotte Sonbo 'Foreign Traveler Insurance' Grows Over 100% Monthly on Average

Sign Up Without Foreign Number... Billing Possible Before Returning Home

Lotte Insurance's domestic travel insurance exclusively for foreigners is experiencing rapid growth.

Lotte Insurance announced on the 21st that 'let: discover Domestic Travel Insurance Ⅲ,' sold through the foreigner-only platform Creatrip since last April, has recorded an average monthly growth rate of over 100%.

Since its launch on April 20, it has achieved a 102% growth rate in the number of sales and an average monthly growth rate of over 100% in sales amount. Customers who subscribed over the past six months come from a total of 83 countries.

Lotte Insurance explained that the convenience of subscription was a key factor. Previously, foreigner domestic travel insurance required a foreigner registration number to subscribe, making it impossible for simple tourists or foreigners staying short-term within two months to enroll. In contrast, Lotte Insurance's domestic travel insurance product for foreigners allows subscription by entering only minimal information such as travel period, passport number, name, and gender on the Creatrip application (app) or website.

Providing key documents such as product brochures and insurance claim guides in six languages?English, Japanese, Cantonese, Taiwanese, Thai, and Vietnamese?was also an advantage. The supported languages are continuously expanding in response to the increasing demand from foreigners wishing to subscribe.

The claim process has also been simplified. Previously, foreign visitors could only subscribe to products from their home countries, requiring insurance claims and related inquiries to be handled after returning home. However, with this product, claims can be made via mobile and email before departure.

In August, Lotte Insurance launched a 'Premium Plan' in addition to the existing plans, and in September, it introduced a corporate VIP product exclusively for companies and institutions, providing customized services for customers.

A Lotte Insurance official stated, "We will continue to provide innovative insurance services through a dedicated e-Biz team and engage in creative collaborations with various platforms."