Kookmin Bank Liiv M Launches Mobile Phone Screen Protection Insurance

Screen Protection Insurance for New, Used, and Previously Owned Phones
Up to 2 Claims per Year and Maximum Coverage of 600,000 KRW for Smartphone Screen Damage

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank Liiv M (Liiv M) announced on the 6th that it has partnered with Carrot General Insurance to launch the 'Phone Care Screen Protection Insurance.'

The eligibility for the Screen Protection Insurance includes ▲ newly purchased phones ▲ used phones released after 2017 ▲ phones currently in use. By recording the phone's serial number and exterior in a video and uploading it to the Liiv M website, artificial intelligence (AI) automatically scans the video and checks for any damage.

The Screen Protection Insurance can be subscribed to non-face-to-face on the Carrot General Insurance website, and if the insurance premium is paid in a lump sum, it covers up to 600,000 KRW per year for screen cracks or damage, twice a year.

The insurance consists of ▲ Plan A, which covers repair costs up to 300,000 KRW twice a year ▲ Plan B, which covers repair costs up to 600,000 KRW twice a year. Latest phone models such as Galaxy Note20 or iPhone 11 can be insured starting from as low as 20,000 KRW annually.

A KB Kookmin Bank official stated, “We will continue to provide various benefits through the combination of finance and telecommunications so that more customers can experience Liiv M.”

This content was produced with the assistance of AI translation services.