Naver Pay announced that the cumulative number of uses for its car insurance comparison and recommendation service, which started last January, has surpassed 3.5 million. The car insurance comparison and recommendation service informs users of the cheapest products within about a minute based on their personal and vehicle information.
Since the launch of the '2.0 service' in March, which eliminates the need to manually input insurance expiration dates or vehicle information, the number of users has increased by 40% compared to before, and the number of users who completed the insurance comparison process during the same period has surged by 220%.
Users of the car insurance comparison and recommendation service have saved an average of 260,000 won in insurance premiums. Notably, the proportion of users who switched to mid-sized and small insurance companies was reported at 36%.
In the first half of this year, the number of uses for Naver Pay's overseas travel insurance comparison and recommendation service increased by 250% compared to the second half of last year. Since the service's launch in July of last year, the cumulative number of comparisons has reached approximately 2.18 million. Among all users, 35% compared insurance premiums through Naver Pay when traveling abroad more than twice.
Naver Pay's overseas travel insurance comparison and recommendation service is the only one in the industry that allows comparisons of insurance premiums from eight insurance companies. A Naver Pay official stated, "In addition to the car insurance and overseas travel insurance comparisons that receive the most selections from users, we will continue to enhance the service to allow users to compare prices and make rational choices in various insurance areas such as savings insurance and pet insurance."