Carrot Sonbo, 120,000 Subscribers in 1 Year Since Launch of Per Mile Auto Insurance

Carrot General Insurance announced on the 9th that the number of subscribers to its "Per-Mile Auto Insurance," which charges premiums based on the distance driven, has exceeded 120,000 within one year of its launch.

[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 9th that the number of subscribers to its "Per-Mile Auto Insurance," which charges insurance premiums based on the distance driven, has exceeded 120,000 within one year of its launch.

The largest subscriber age group was people in their 40s and 50s, accounting for 49%, followed by those in their 20s and 30s at 42%, and those aged 60 and above at 9%. This indicates that the product is recognized across various age groups.

It was found that mainly drivers with short driving distances subscribed to Per-Mile Auto Insurance. According to the Korea Transportation Safety Authority's analysis from 2015 to 2019, the average daily driving distance per vehicle was 39.3 km, whereas Carrot Per-Mile customers drove an average of about 19 km per day over the past year.

Carrot General Insurance plans to revamp the entire menu within the first quarter of this year to enhance user convenience. Per-Mile Members is currently under development as a membership service that uses a driving distance measurement system and AI to monitor customers' driving habits and provide safe driving counseling information.

They also plan to introduce the "2nd generation" Carrot Plug, which applies plug data-based automatic accident detection functions and features enhanced vehicle movement detection sensors.

Jung Young-ho, CEO of Carrot General Insurance, said, "As a result of meeting the latent needs of auto insurance customers, customers empathize with Per-Mile and are raising the value of daily life together with Carrot. We will strive to expand our customer contact base through products and channels with various functions and to build a tech-based mobility data platform."

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