Chabot Signs Strategic Partnership with Leading GA iFA for Customized Vehicle and Driver Data Insurance

Chabot Mobility announced on December 4 that it has signed a strategic business agreement (MOU) with iFA, a leading domestic insurtech (insurance + technology) general agency (GA) with over 3,000 insurance planners, to launch a data-driven, innovative mobility insurance business.

Kang Sungkeun, CEO of Chabot Mobility (left), and Lee Junho, CEO of iFA, are posing for a commemorative photo after signing a business agreement at the iFA headquarters in Gangnam-gu, Seoul on the 3rd. Chabot Mobility

원본보기 아이콘

The two companies entered into the agreement to build a next-generation mobility insurance ecosystem that covers the entire automotive life cycle by combining their respective data assets and insurance and financial operational capabilities.

The companies will collaborate in four key areas.

First, leveraging customer data such as vehicle information, driver databases, and maintenance histories accumulated by Chabot through various channels, the two companies will jointly develop customized insurance products for customers.

The goal is to move beyond the conventional, standardized, comparison-quote-focused insurance products offered by traditional insurers and to launch next-generation private insurance products that incorporate iFA’s specialized planning expertise.

They will also conduct joint marketing that combines vehicle services and insurance services. In addition, they will work together on customer engagement activities such as webinars, seminars, and content creation. The two companies plan to rapidly expand their influence in the mobility-based insurance market by jointly designing and operating strategies for lead generation and customer conversion.

Both companies will accelerate the development of a digital-based one-stop service that integrates vehicle services and insurance management processes.

They will jointly develop a car-tech and insurtech-based business model that connects every step a customer experiences-from purchasing and renewing insurance to filing claims, repairs, and replacement vehicles-into a seamless flow. Their aim is to provide a comprehensive mobility insurance experience that goes beyond simply selling coverage to encompass the entire vehicle life cycle.

Additionally, they will continue to pursue strategic joint initiatives such as direct insurance product sales, the launch of new products, and enhancing insurance competitiveness within the platform.

Kang Sungkeun, CEO of Chabot Mobility, stated, "By combining the data and operational know-how that Chabot has accumulated as a mobility platform with iFA’s financial expertise and technological capabilities, we will be able to drive innovation in customer experience and transform industry structures in ways that the existing insurance distribution model could not. We will accelerate our collaboration to evolve into a total financial platform that takes responsibility for every aspect of our customers’ mobility lives, going beyond simple insurance brokerage."

Chabot Mobility operates a mobility platform that covers the entire automotive life cycle, including vehicle purchase, insurance, maintenance, and management. The company is partnered with over 30 insurance, financial, and card companies. It has grown based on a team of more than 60 professional financial consultants and a digital GA operating system.

As of the end of last month, iFA is a leading general agency with approximately 477,000 customers. Backed by an organization of over 3,000 insurance planners, it provides scientific and systematic financial solutions. The company has driven innovation with achievements such as a patent for its AI-based variable fund management program "VFA." Recently, it has accelerated its digital transformation by launching "iFA AI Link," the industry’s first AI platform.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.