Carrot Insurance Develops Motorcycle-Exclusive Driving Habit-Linked Insurance

Carrot General Insurance announced on the 31st that it will develop a motorcycle-exclusive driver habit-linked (UBI) insurance.

[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 31st that it will develop a usage-based insurance (UBI) policy specifically for two-wheeled vehicles.

Carrot General Insurance signed a business agreement with delivery agencies PLG, Spidercraft, and Thinkware to share rider operation data through system integration with the delivery agencies. This data will be applied to insurance development, and it is expected that delivery agencies will be able to improve riders' working conditions through the two-wheeled vehicle UBI insurance.

Two-wheeled vehicle insurance is classified into household use, non-commercial transport, and commercial transport. Delivery food two-wheeled vehicle insurance, which falls under commercial transport, has premiums reaching several million won annually, leading to abnormal operations such as riding uninsured or subscribing to non-commercial transport insurance.

A Carrot General Insurance official stated, "We are exploring various ways for delivery agencies and riders to use insurance at reasonable costs," adding, "We will strive to introduce innovative services for two-wheeled vehicle insurance, similar to per-mile auto insurance."

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