Lotte Sonbo's 'Extended Warranty Insurance for Electronic Products' Surpasses 1 Million Contracts

Rapid Growth in Three Years Since Launch

Lotte Insurance's electronic product warranty extension insurance contracts have exceeded 1 million.

Lotte Insurance announced on the 13th that this 'EW Insurance' achieved such results within three years of its launch.

EW Insurance is an insurance service that covers repair costs for product malfunctions even after the free warranty period provided by manufacturers and sellers has ended. Lotte Insurance sold EW Insurance through e-commerce companies and online and offline home appliance distributors. Since the first launch of 'Ansim Care' in October 2020, it surpassed 300,000 contracts in January 2022. Then, just over five months after surpassing 800,000 contracts in June, it also exceeded 1 million contracts.

Meanwhile, Lotte Insurance is expanding digital insurance services through its 'e-Business Dedicated Organization.' Various lifestyle-oriented insurance products are also being sold on the platform 'Alice,' launched last August. They have continuously introduced diverse products such as 'Bulhyoja Insurance,' which covers cyber fraud damage to parents like voice phishing, and 'Office Worker Insurance,' which compensates for workplace harassment.

A Lotte Insurance official stated, "We will expand and transplant the successful DNA of EW Insurance to various lifestyle-oriented insurance services," adding, "We will develop creative and innovative insurance services and strengthen customer service to continue playing a leading role in the related market."