Carrot

Launched in 2019 as South Korea's first fully-licensed digital non-life insurer, Carrot is a joint venture by major companies including Hanwha General Insurance, SK Telecom, and Hyundai Motor Group. The company's mission is to innovate the traditional insurance market through technology and data. Its flagship product is "Carrot Per-Mile Auto Insurance," which calculates premiums based on the actual distance driven, tracked via a proprietary plug-in device or smartphone app. This model aims to provide fairer, more rational, and personalized insurance solutions for modern lifestyles.