Carrot Sonbo obtains patent for 'Switching System' allowing enrollment when needed
[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 9th that it has obtained a patent from the Korean Intellectual Property Office for its insurance switching system.
This patent pertains to a "user arbitrary selection-based insurance switching system," a new concept switch insurance that allows users to immediately subscribe to insurance whenever they need it.
The insurance switching system is applied to the SmartON insurance series launched by Carrot, including SmartON Pet Walk Insurance and SmartON Overseas Travel Insurance.
In March, Carrot General Insurance also obtained a BM patent from the Korean Intellectual Property Office related to per-mile auto insurance with the "automatic premium calculation system based on automobile trip information."
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A Carrot General Insurance official stated, "Unlike typical switch insurance, the SmartON insurance series offers not only the convenience of turning it on only when needed but also the economic benefit of premium reduction," adding, "We will continue to strive to launch newer and more innovative products befitting the first digital non-life insurance company."
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