100 Days Since Launch...
Daily Active Users Up 20-Fold
The Car Insurance Comparison and Recommendation Service 2.0 is an upgraded service that allows users to compare and sign up for car insurance at the same rates offered by insurers' online channels and platforms, in accordance with the Financial Services Commission's policy. Toss began applying the unified rates across the board from April 19 and launched the service on that date.
As of the second quarter, the number of users who compared and signed up for car insurance through the Toss app nearly doubled compared to the previous quarter. Seven out of ten users received recommendations for lower premiums than before.
As of June 30, the daily active user count (DAU) increased by approximately 20 times compared to the end of February, before the service renewal. During the same period, the monthly active user count (MAU) also grew about sixfold.
Starting this month, Toss introduced a feature that automatically retrieves card numbers when signing up for the public transportation discount rider, eliminating the need for manual entry. Users who utilize the Toss pedometer can now receive even more precise premium calculations.
As a result of improvements to the user interface and experience (UI/UX), about 64% of users transitioned to the partner insurers' sign-up pages. Toss commented, "We are seeing a high click-through rate."
Toss has partnered with ten major insurers?Samsung Fire & Marine Direct, DB Insurance, Hyundai Marine & Fire Direct, KB Insurance, Meritz Fire & Marine, Carrot Insurance, AXA Direct, Hana Insurance, Heungkuk Fire & Marine, and Lotte Insurance?to provide an environment where users can easily compare and sign up for products at a glance.
A Toss representative stated, "The application of unified rates between insurers and platforms appears to have been the main factor driving the increase in car insurance sign-ups."
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