Hanwha General Insurance Officially Merges with Carrot... Maximizing 'Female + Digital' Synergy

Completion of CM, TM, and Face-to-Face Sales Structure
Carrot's Organization Integrated into Hanwha's Strategic Sales Division and Technology Strategy Office
Targeting Double-Digit Market Share in Auto Insurance Within Five Years

Hanwha General Insurance has acquired Carrot General Insurance, Korea's first digital non-life insurance company.

On October 1, Hanwha General Insurance announced the official merger with Carrot. The company plans to secure future core growth engines by integrating digital DNA and artificial intelligence (AI) into femtech (female + technology) assets. Going forward, Hanwha General Insurance's core synergy strategies will be a "digital hybrid business model" and "AI-based women's network development."

With the merger, Hanwha General Insurance has completed its sales channel portfolio, encompassing cyber marketing (CM), telemarketing (TM), and face-to-face sales. The company will actively leverage the competitiveness of Carrot's existing CM channel to drive sales growth.

Hanwha General Insurance plans to maximize integrated synergy by implementing a customer-centric hybrid business model that combines CM and TM, utilizing Carrot's Internet of Things (IoT) and big data capabilities, as well as its young customer database. Carrot's organization and functions have been incorporated into Hanwha General Insurance's "Strategic Sales Division" and "Technology Strategy Office." These divisions will be responsible for TM and CM sales and for advancing mobile platform services.

Hanwha General Insurance Building. Hanwha General Insurance

The company will also accelerate its "Femtech 2.0" strategy, which offers AI-based, life-stage tailored coverage for women. Centered on its market-competitive "Signature Women's Health Insurance," Hanwha General Insurance will expand its long-term insurance product lineup through the CM channel. The company plans to address coverage needs throughout women's lives, such as childbirth, parenting, and chronic disease management, using data-driven approaches.

Through this process, Hanwha General Insurance aims to use the accumulated data as a foundation for product and service innovation, evolving from a leading women's insurance provider into a top company in the broader women's solutions sector.

In the online space, Carrot will be developed as a brand to expand the automobile insurance market. Starting with over 1.1 trillion won in auto sales this year (a 5.4% market share), the company aims to reach 2 trillion won in sales and double-digit market share within the next five years. Hanwha General Insurance also plans to improve profitability by achieving economies of scale and maximizing operational efficiency.

A Hanwha General Insurance representative said, "Through this innovative business model that combines the unique strengths of both companies, we will provide customers with optimal insurance services and create new growth engines for the company's continued success."

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