Lotte Insurance announced on the 9th that it has launched 'let:click car insurance' (hereinafter referred to as Alice car insurance) through its lifestyle-oriented insurance platform 'Alice' (ALICE).
The newly introduced 'Alice car insurance' by Lotte Insurance is the first 'mobile-only car insurance' product embedded in the existing Alice platform, which primarily focused on small short-term insurance.
'Alice car insurance' is characterized by Alice proactively suggesting the optimal plan based on customer data. This allows customers to easily select the insurance that fits them without having to compare and analyze complex coverage conditions.
First, for customers who have a history of subscribing to car insurance from other companies in the previous year, a product plan will be presented under the same subscription conditions as before. For example, customers who have a record of enrolling in ‘T-map safe driving discount option’ or ‘advanced safety device option’ with other companies will be recommended a plan that includes these options. This allows customers to receive proposals for products with familiar conditions, reducing the time and burden of comparing and choosing insurance.
Generally, in the insurance industry, only customers renewing their own products have been offered plans under the same conditions as the previous year. However, 'Alice car insurance' proposes optimized customized conditions based on customer data from other insurance companies even to new customers who have never subscribed to Lotte Insurance.
Additionally, the system automatically recommends the insurance products most commonly selected by customer groups with similar ages and vehicle conditions to new subscribers. For example, a plan that includes options such as 'mileage option' chosen by the majority of '30s domestic car owners' will be presented. This enables new customers to choose products efficiently without a complicated comparison process.
Another strength of 'Alice car insurance' is that the initial insurance premium and conditions presented to customers who came through the insurance comparison platform do not change until the subscription is completed.
In general, many insurance comparison platforms attract customers with low premiums, but the actual subscription process often sees changes in premiums or conditions. In contrast, 'Alice car insurance' maintains the premiums and conditions presented at the initial comparison stage, allowing customers to sign up for their desired plan more transparently.
In addition, the subscription process has been simplified to a total of three steps: checking coverage details, registering attached documents, and final payment. Unlike other companies that typically require five or more steps for subscription, the efficient process reduced the average click count in the industry by nearly half. It has also increased convenience by using customer-friendly terms, such as 'when another person is injured or dies' and 'when my car is damaged,' instead of supplier-centric terms like 'personal injury liability' or 'own vehicle damage.'
A representative from Lotte Insurance noted, 'Following the recent addition of cancer and heart-brain insurance available for those with pre-existing conditions, we are accelerating the transition to a digital insurance platform by including car insurance as well. We plan to present additional long-term insurance as well as lifestyle-oriented insurance services tailored to customer needs through Alice within the year, proposing a new model of 'digital insurer.'