Carrot Sonbo Launches Screen Protection Insurance for Mobile Phones Starting at 30,000 KRW
Carrot General Insurance announced on the 21st that it has launched the country's first "Phone Care Screen Protection Insurance," incorporating contactless artificial intelligence (AI) video recognition technology.
View original image[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 21st that it has launched the country's first 'Phone Care Screen Protection Insurance' incorporating untact artificial intelligence (AI) video recognition technology.
The insurance covers repair costs in case of screen damage to new phones or used phones released after 2017.
Existing phone insurance allows face-to-face enrollment only for new phones through carrier stores, but this insurance enables customers to enroll without visiting a store by uploading the serial number and exterior of the phone they want to insure via video. The AI automatically scans the video and checks for damage to proceed with the insurance enrollment process.
Subscribers can choose Plan A (twice a year, up to 300,000 KRW repair cost coverage) or Plan B (twice a year, up to 600,000 KRW repair cost coverage), and can enroll for the latest phone models such as Galaxy S20 and iPhone 11 at rates of 20,000 to 30,000 KRW per year.
Carrot General Insurance developed the AI video recognition technology through industry-academic cooperation with Professor Seok Heung-il's team at Korea University's Machine Intelligence Laboratory.
Additionally, through a partnership with SK Networks' Mintit, which operates the country's first AI-based unmanned used phone purchase machines, Phone Care Screen Protection Insurance can be immediately purchased at Mintit ATMs located in over 400 large supermarkets nationwide.
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Jung Young-ho, CEO of Carrot General Insurance, said, "We will continue to introduce new services that have never been experienced in existing insurance by applying artificial intelligence technology to major insurance processes such as enrollment, accident investigation, and claim payment."
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