Carrot Sonbo "Data-Driven Safe Driving Guidance... Accident Rate Reduced by 5.92%"

Carrot Report 2024 Released
Carrot Drivers’ Annual Carbon Emissions Around 1 Ton... 45% Lower Than the National Average

Car insurance based on driver data has been found to reduce car accidents and improve the environment.

Domestic digital non-life insurer Carrot Insurance announced the "Carrot Report 2024" on the 19th, analyzing customer data and driving records.

As of last year, Carrot Auto Insurance recorded a cumulative subscription of 2.34 million policies, and customers’ total driving distance reached 11.5 billion km. This is equivalent to about 286,000 laps around the Earth.

Notably, the driving patterns of new subscribers are changing. The average annual driving distance of new subscribers was 7,357 km in 2022, but increased by 12.5% to 8,275 km last year over two years. Contrary to the previous perception that Carrot Auto Insurance was mainly for “low-mileage drivers,” there is now a trend of customers with longer driving distances actively choosing Carrot.

Carrot’s data-driven safe driving program is also contributing to improved road safety. The average accident rate decreased by 5.92% with each first renewal of insurance. Customers participating in Carrot’s “Parking School” program saw a 7.6% reduction in accident rates. Last year, customer satisfaction with the emergency dispatch service reached 95.7%, rising by 0.7% compared to 2023, demonstrating that Carrot’s services provide high satisfaction to customers.

Positive changes have also appeared from an environmental perspective. While the average annual carbon dioxide emissions of typical registered vehicles in Korea are about 1.8 tons, Carrot drivers’ annual emissions were about 1 ton, 45% lower than the national average. This shows that changes in Carrot drivers’ driving distances and habits contribute not only to insurance premium savings but also to fostering an eco-friendly driving culture.

Carrot also operates various reward programs to encourage safe driving. In 2024, the highest number of Carrot Perfect Green Cards issued totaled 2,263. Through the driving reward card, more customers are developing safe driving habits.

A Carrot Insurance official said, “The changes in Carrot drivers’ driving habits are contributing to safer road environments and a sustainable future,” adding, “We will continue to develop our services based on data and technology to ensure positive changes continue together with our customers.”