'Pay-As-You-Drive' Carrot Sonbo PerMile Auto Insurance Surpasses 300,000 Policies Sold

Carrot General Insurance announced on the 8th that its Per Mile Auto Insurance has surpassed 300,000 subscriptions within one and a half years since its launch.

[Asia Economy Reporter Oh Hyung-gil] Carrot General Insurance announced on the 8th that its Per-Mile Auto Insurance has surpassed 300,000 subscriptions just one and a half years after its launch.

Per-Mile Auto Insurance has shown rapid growth, having reached 200,000 subscriptions last May. Carrot General Insurance explained that this figure is differentiated compared to similar services in the U.S., such as Metromile and Root, which gathered about 100,000 and 150,000 subscribers respectively over five years since their launch.

Per-Mile Auto Insurance measures driving distance and charges based on the mileage, aligning with the social trend favoring rational consumption, which has helped it quickly establish itself. Additionally, customer reviews praising the stable compensation service have provided psychological reassurance for subscribing to a new insurance company, contributing to the increase in subscribers.

Carrot General Insurance has also launched Per-Mile Members, which establishes safe driving scoring through driving pattern big data and awards points in real time according to individual safe driving levels.

Carrot General Insurance is preparing a safe driving program tailored for freight vehicles in cooperation with the Korea Expressway Corporation, and plans to introduce auto insurance for electric vehicles, two-wheelers, and car sharing in partnership with affiliates. In the second half of the year, it also plans to launch AI-based automatic accident detection and immediate dispatch services for major accidents.

A Carrot General Insurance official said, "We are showing an unprecedented growth trend even in the global auto insurance market, and collaboration requests from overseas companies continue," adding, "We will continue to showcase a differentiated image as a digital insurer through continuous technological development, expansion of new services, and stable compensation services."

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