Habit Factory Launches Car Insurance Comparison and Recommendation 2.0

"More Options for Consumers Including Basic and Premium Plans"

Fintech company Habit Factory announced on the 31st the launch of version 2.0 of its application ‘Signal Planner’ car insurance comparison and recommendation service.

By using the service, users can compare car insurance products and be connected to the insurance company’s website where contracts can be made. Habit Factory, one of the four participants in the 2.0 initiative promoted by the Financial Services Commission, has enhanced the platform so that customers can compare insurance premiums identical to those on the insurance companies’ websites. Contract holders with expiration dates from the 19th of next month can check various product prices at a glance.

Previously, customers had to enter multiple pieces of information manually, but after the improvement, only identity verification is required to automatically retrieve vehicle information, expiration dates, and more.

Habit Factory explained that since the service was introduced last year, they have worked hard to solve problems consumers have faced. Considering that it was difficult to calculate premiums without owning a vehicle, they enabled users planning to purchase their first car to select a vehicle model and compare approximate prices.

Since many customers worry about how much coverage to set, the options were categorized into three types: ▲Basic ▲Value ▲Premium. Including options with higher limits, the choices for consumers were diversified. The premium coverage includes liability coverage of 1 billion KRW for property damage, 300 million KRW for automobile injury death, and 30 million KRW for injury. It is explained that automobile injury-related coverage is unique among the 2.0 participants.

The insurance companies partnered with Habit Factory include seven companies: ▲Samsung Fire & Marine Insurance ▲Hyundai Marine & Fire Insurance ▲DB Insurance ▲KB Insurance ▲Meritz Fire & Marine Insurance ▲Carrot General Insurance ▲Heungkuk Fire & Marine Insurance.

Jung Yun-ho, co-CEO of Habit Factory, said, “With the introduction of 2.0, overall customer experience has improved, and we expect consumer benefits to increase. We hope users save on insurance premiums with Signal Planner, which has maintained an app rating of 4.8 for four years.”