Toss Car Insurance Compare & Recommend 2.0, D+100 Since Launch

• Cumulative subscribers doubled compared to the previous quarter… daily active users increased 20 times
• A feature that retrieves transportation card numbers automatically added… Toss Walk enables more precise insurance premium calculation

Viva Republica, the operator of the financial super app “Toss,” announced that the cumulative number of users who subscribed to auto insurance through Toss has doubled compared to the previous quarter, 100 days since the launch of its “Car Insurance Compare & Recommend”

The “Car Insurance Compare & Recommend 2.0” is an improved service introduced in line with the Financial Services Commission’s policy, enabling users to compare and purchase auto insurance at the same rates across insurance company online channels and platforms. Toss began applying the uniform rates in full on April 19, officially launching the service.

As a result, the number of users who compared and purchased auto insurance via the Toss app in Q2 of this year nearly doubled compared to Q1. Among them, 7 out of 10 subscribers received recommendations for cheaper premiums than before.

User engagement has also grown rapidly. As of June 30, daily active users (DAU) increased about 20 times compared to the end of February, before the service revamp. During the same period, monthly active users (MAU) grew about 6 times, showing that a larger share of users are using Toss to compare and receive recommendations for auto insurance.

The user experience has also improved. Since July, users enrolling in the public transportation usage discount no longer need to manually enter their card number, as it is automatically retrieved. For users of Toss Walk, a more precise premium calculation is now available.

In addition, Toss has applied a user-centered, convenient UI/UX, leading to a high click-through rate, with about 64% of users moving on to partner enrollment pages.

Currently, Toss has partnered with 10 major insurers, including Samsung Fire Direct, DB Insurance, Hyundai Marine & Fire Direct, KB Insurance, Meritz Fire & Marine, Carrot General Insurance, AXA Direct, Hana Insurance, Heungkuk Fire & Marine, and Lotte Insurance, providing an environment where users can compare and subscribe to a wide range of products in one place.

“We believe that the application of uniform rates across insurers and platforms has been a key factor in the increase of auto insurance subscriptions,” a Toss representative said. “Toss will continue to improve user experience so that more users can experience real benefits.”