Meritz Fire & Marine Insurance Sells Industry's First Warranty Extension Insurance via 'BMW Mania' Community

Exclusive for BMW Mania Members on Naver Cafe

Genuine Parts and Manufacturer-Level Coverage Provided

On March 12, Meritz Fire & Marine Insurance announced that it had signed a business agreement with Sequence N, a company specializing in automotive marketing, and will sell the industry’s first automobile warranty extension insurance exclusively for members of the Naver Cafe 'BMW Mania'.

Choi Wonjun, Head of Corporate Insurance at Meritz Fire & Marine Insurance (right), and Kim Sejung, Director at Sequence N, are posing for a commemorative photo after signing a business agreement for warranty extension insurance partnership for members of the Naver Cafe 'BMW Mania' at Meritz Tower in Gangnam-gu, Seoul. Meritz Fire & Marine Insurance

Through this agreement, BMW Mania members can now directly enroll in 'Meritz My Car Safety Care', a warranty extension insurance product offering the same level of coverage as the manufacturer’s warranty, via a convenient enrollment link.

Sequence N is the largest automotive community operator in Korea, managing approximately 17 million club members across 60 domestic and imported car models. The company develops a wide range of automotive marketing businesses based on full life-cycle data from vehicle purchase, maintenance, car washing, to scrapping.

Meritz Fire & Marine Insurance explained that, by collaborating with Sequence N, it has incorporated community-based real usage data into its insurance design, enabling more precise risk analysis and a more rational premium system.

In the past, warranty extensions for imported cars have imposed a significant burden on consumers due to high enrollment costs, and especially in the case of private warranty products, use was often limited to designated service centers only.

With Meritz My Car Safety Care, repairs can be performed at any official BMW service center nationwide using genuine parts, and the coverage provided is equivalent to that of the manufacturer’s warranty.

The company noted that rigorous loss ratio analysis and data-based pricing helped reduce unnecessary costs and lowered the actual financial burden for BMW owners.

The product is available to owners of new vehicles within 90 days of delivery or to those who have owned their vehicle for less than 18 months. It is offered in combinations of 2 years + 3 years or 2 years + 4 years of extended warranty coverage.

In addition, the policy structure allows the warranty coverage to be automatically transferred based on the vehicle identification number (VIN), ensuring that benefits are maintained even after the vehicle is sold. As a result, it is expected to help preserve vehicle value and mitigate depreciation in used car transactions.

Meritz Fire & Marine Insurance plans to expand the warranty extension insurance market by cooperating with a variety of imported car communities, starting with the BMW Mania Cafe partnership.

A representative from Meritz Fire & Marine Insurance said, "This agreement goes beyond mere insurance sales and is a case of seamlessly integrating insurance into the mobility industry ecosystem. We will continue to introduce insurance services that provide real value to our customers through various partnerships and the development of data-driven products."

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