HANWHA GENERAL INSURANCE entered the 1 trillion won club in auto insurance sales through a merger with digital non-life insurer Carrot General Insurance.
On the 1st, HANWHA GENERAL INSURANCE said it completed an absorption-type merger with Carrot General Insurance and relaunched as a "hybrid non-life insurer." HANWHA GENERAL INSURANCE's core synergy strategy is a "digital hybrid business model" and an "artificial intelligence (AI)-based women's network buildout."
With this merger, HANWHA GENERAL INSURANCE completed a sales channel portfolio spanning cyber marketing (CM), telemarketing (TM), and face-to-face sales. In particular, it plans to actively leverage Carrot's CM channel competitiveness to expand revenue. Through the merger with Carrot, HANWHA GENERAL INSURANCE's combined revenue reached 1.1 trillion won, overtaking Meritz Fire & Marine Insurance to leap to fifth place in the auto insurance industry.