By Yoon Young-sil | Business Korea | February 13, 2025
Carrot Insurance’s Deficit Narrows in 2023 but Remains a Financial Challenge
Hanwha General Insurance is contemplating the sale of management rights for Carrot Insurance, a digital insurance company it established in 2019 in partnership with financial investors, including SK Telecom, Hyundai Motor and Altos Ventures. This decision comes amid financial concerns and a complex interplay of market dynamics. Carrot Insurance, which was launched to tap into the burgeoning digital insurance market, has been a pioneer in offering innovative products like the “Per-Mile Special Contract,” the first of its kind in Korea, which calculates premiums based on driving distance.Read More »Hanwha General Insurance Considers Selling Carrot Insurance Amid Financial Strains