"Changing the Trend of Insurance Consumption in Daily Life"
Offering Insurance Products Covering the Entire Life Cycle, from Small-Amount and Short-Term to Long-Term Plans
Lotte Insurance announced on August 4 that its lifestyle-oriented insurance service platform, 'ALICE,' is celebrating its second anniversary since launch.
ALICE, which was first introduced in August 2023, has expanded its product lineup to 27 types in just two years. The cumulative number of contracts signed has surpassed 360,000, and the total number of users who have accessed the platform has reached 6.36 million.
On ALICE, an average of 1,000 insurance contracts are signed daily, exceeding 20,000 contracts per month. This is a rare achievement even among B2C (business-to-consumer) platforms operated by traditional insurance companies.
The cumulative number of users who have accessed ALICE was 1.05 million in 2023, 4.07 million last year, and 6.36 million as of the end of last month. It is expected to exceed 8.08 million by the end of the year. The cumulative annual number of contracts was 30,000 in 2023, 220,000 last year, and 360,000 as of the end of last month, marking a more than tenfold increase in two years. This figure is expected to surpass 470,000 by year-end.
The driving force behind ALICE's rapid growth has been its diverse product lineup, carefully tailored to meet customer needs. In its early days, ALICE quickly responded to everyday risks by focusing on small-amount and short-term insurance products such as 'Travel Insurance' and 'One-Day Car Insurance,' which are essential for daily life.
Subsequently, ALICE expanded its services to cover various lifestyles, including sports and hobbies. Differentiated products such as 'Eonjenaeonni Insurance' and 'Long-term Care Insurance,' which are tailored by gender and age group, have also received positive feedback.
In April, ALICE, which had previously focused on small-amount and short-term insurance, added direct car insurance and introduced long-term coverage products such as cancer and cerebrovascular insurance. As a result, ALICE has evolved into an insurance platform that covers the entire life cycle, from short-term to long-term needs.
Specialized products focused on hobbies and leisure have further highlighted ALICE's uniqueness. Golf insurance, which has surpassed 100,000 cumulative contracts, now offers a 'Multi-Round Plan' that can be gifted and covers up to 50 rounds. Unique products such as 'Deokmingaout Insurance,' which covers injuries and fraud at performance venues, and 'Surfing Insurance,' which covers accidents during summer surfing, have also attracted attention.
ALICE is gaining strong support from the digitally savvy 20s and 30s demographic, leading new trends in insurance consumption. Among ALICE subscribers, the proportion of those in their 20s and 30s is 44.4%. This demographic also accounts for 48% of all contracts.
Lotte Insurance plans to continue developing and launching lifestyle-oriented insurance services tailored to the 20s and 30s demographic, which has already shown strong engagement. The company also intends to discover new services targeting the 40s and 60s demographic, where golf insurance is driving a notable increase in subscriptions.
Lotte Insurance aims to evolve ALICE into a comprehensive insurance platform that broadly covers various risks in customers' daily lives by continuously introducing its long-term coverage products, which are one of the company's strengths, to the platform.
The company also plans to enhance its innovative customer interface (UI) to further engage customers. ALICE, which previously implemented an intuitive color user interface, won the 'Grand Prize' at the 'ICT Award Korea' and received simultaneous recognition in the Application Performance and Digital Creative categories at the '2024 Digital Advertising Awards.'
A Lotte Insurance representative stated, "As a B2C-based lifestyle insurance platform, ALICE is redefining the way insurance is consumed," and added, "We will continue to further advance ALICE to develop it into an insurance platform that anyone can easily access."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
