Carrot Insurance, Hyundai Motor Group Connected Car and Data Integration

Use of Per Mile Auto Insurance Possible Without Separate Device

Carrot General Insurance has enabled the service of per-mile auto insurance by linking data with all vehicles equipped with Hyundai Motor Group's connected car system.

[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 6th that it has enabled the service of per-mile auto insurance by linking data with all vehicles equipped with Hyundai Motor Group's connected car system.

Per-mile auto insurance is a type of auto insurance where a Carrot Plug is installed in the cigarette lighter socket, and driving distance is measured based on GPS, allowing the insurance premium to be paid monthly in arrears according to the distance driven.

By linking with connected cars and data, customers who own such vehicles and subscribe to per-mile auto insurance can have their insurance premiums calculated based on driving distance without installing the Carrot Plug, simply by linking their accounts.

Jung Young-ho, CEO of Carrot General Insurance, said, "We expect mutual synergy effects to be amplified by participating in the establishment of Hyundai Motor Group's connected car ecosystem," adding, "We plan to continuously launch insurance services for drivers, including differentiated insurance products linked to driving habits."

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