Chabot Mobility said on the 4th that it signed a strategic business agreement (MOU) with Insurtech-based corporate insurance agency (GA) iFA and will fully roll out a data-driven mobility insurance business.
The agreement aims to build a mobility insurance ecosystem that covers the entire car life by combining the two companies' data and insurance and finance operating capabilities, with a goal of shifting to a data-driven mobility insurance platform.
Chabot Mobility and iFA will jointly develop customized insurance products based on customer data such as vehicle information, driver databases, and maintenance histories. Through this, they plan to move away from the comparison-quote-centered insurance structure and present private insurance products. They will also pursue collaboration such as joint marketing that combines vehicle services and insurance services and activities to expand customer touchpoints.
The two companies will also cooperate to build a digital one-stop service that consolidates vehicle management and insurance processes, from policy enrollment and renewal to accident reporting, repairs, and replacement vehicles. The goal is to provide a complete mobility insurance experience that integrates the entire vehicle life beyond simple coverage.
In addition, they plan to continue promoting strategic joint businesses such as selling direct insurance products, launching new products, and strengthening insurance competitiveness within the platform.
Chief Executive Kang Seong-geun of Chabot Mobility said, "If iFA's financial expertise is added to the data and operating capabilities held by Chabot, it will help improve the customer experience and change the industry structure."