Carrot to support Naver with e-commerce returns insurance

Carrot, a digital insurance platform, has partnered with e-commerce shopping platform Naver for shipment return insurance.

Based in Seoul in Korea, Carrot claims to be the nation’s first fully-licensed 100% digital insurance carrier. The company said it has been disrupting the insurance market and outpaced its global peers in terms of the speed of acquiring customers to its usage-based insurance programme.

Carrot said it offers easy and accessible insurance, transparent premiums, AI automated accident registration and prompt dispatch of help services all made possible via proprietary technology. The company is also pursuing business in pay-as-how-you-drive auto insurance, which assesses the premiums as per customer’s driving patterns and behaviour through sensor data analytics.

The partnership with Naver will see Carrot supply shipment return insurance for the merchants of Naver’s online shopping platform (Smart Store).

Speaking of the recent partnership announcement, Paul Jung, CEO of Carrot, said, “We are excited to be working alongside with Naver. We share Naver’s vision of innovating on behalf of clients, and the launch of this service is one way how we address customers’ pressing needs.

“We are distinctively positioned to develop and deliver digital insurance solution to Naver that will broaden access to small online business owners and help them grow and protect their businesses. We look forward to continually introduce series of platform integrated solutions through our long-lasting partnership.”

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.