Small Ticket Expands into Liability Insurance Following Hourly Insurance for Two-Wheelers

Insurtech startup Smallticket (CEO Kim Jeong-eun) has officially entered the motorcycle home liability insurance market. Smallticket previously offered motorcycle paid transportation insurance products targeting delivery agencies. Notably, it gained attention by being the first in Korea to introduce time-based insurance that only covers the hours the vehicle is in operation. Recently, the company expanded its insurance service area by also selling home liability insurance based on safe driving, in addition to paid transportation insurance. This marks an expansion of its business from reward-based pet healthcare insurance services to mobility insurance services.

Smallticket began selling time-based paid transportation insurance in 2019, starting with Baemin Connector, a delivery service of Baedal Minjok, and has since expanded its services to major delivery agencies. In July, it plans to launch time-based paid transportation insurance services for Yogiyo as well. Both fixed amount and monthly subscription plans will be offered.

Motorcycle liability insurance can also be purchased directly through the direct channels of non-life insurance companies by motorcycle owners. However, subscribing through Smallticket offers additional benefits. Smallticket provides various services that help promote safe driving along with a certain number of points when achieving motorcycle safe driving campaigns. It offers safe driving information tailored to MBTI personality types and raises awareness of safe driving through challenges such as safe driving quizzes. Choi Myung-geun, Executive Director of Smallticket’s Mobility Division, stated, “We plan to introduce a ‘Safe Driving Discount System’ that offers insurance premium discounts for safe driving based on digital motorcycle safe driving evaluations.”

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