Toss marked the 100th day of its 'Car Insurance Comparison and Recommendation Service 2.0' and announced on the 28th that the cumulative number of users who subscribed to car insurance through Toss increased by twofold compared to the previous quarter.
'Car Insurance Comparison and Recommendation Service 2.0' is an improved service that allows users to compare and subscribe to car insurance at the same rates through insurance companies' online channels and platforms, in accordance with the Financial Services Commission's policy. Toss fully implemented the same rates starting from April 19th and began the service in earnest.
Accordingly, the number of users who compared and subscribed to car insurance via the Toss app increased by about twofold in the second quarter of this year compared to the first quarter. Among them, seven out of ten subscribers received recommendations for cheaper insurance premiums than before.
Users' interest is also quickly spreading. As of June 30th, the daily active user (DAU) count increased approximately twentyfold compared to late February before the service overhaul. During the same period, the monthly active user (MAU) count also grew by about six times, indicating a rising proportion of users comparing and receiving recommendations for car insurance through Toss.
User experience has been further enhanced. Starting in July, a feature was added that automatically retrieves card numbers when subscribing to public transportation discount policies, so users do not have to input them manually. Users of the Toss pedometer can achieve more accurate insurance premium calculations.
Additionally, Toss applies a user-centered convenient UI/UX, recording a high click-through rate of about 64% for users transitioning to partner company subscription pages.
Currently, Toss has partnered with a total of ten major insurance companies, including Samsung Fire & Marine Insurance, DB Insurance, Hyundai Marine & Fire Insurance, KB Insurance, Meritz Fire & Marine Insurance, Carrot General Insurance, AXA Direct Insurance, Hana Insurance, Heungkuk Fire & Marine Insurance, and Lotte Insurance, providing an environment where various products can be compared and subscribed to at a glance.
A Toss representative noted, "The application of the same rates between insurance companies and the platform seems to be the main factor contributing to the increase in active car insurance users," and added, "Toss will continue to improve user experience so that more users can feel the practical benefits."