Insurtech Carrot partners with Naver

Carrot General Insurance , a digital insurance platform from South Korea, has entered into an exclusive distribution agreement with e-commerce platform company Naver , whereby Carrot has been appointed to exclusively supply shipment return insurance for the merchants of Naver’s online shopping platform Smart Store.

“We are excited to be working alongside Naver. We share Naver’s vision of innovating on behalf of clients, and the launch of this service is one way how we address customers’ pressing needs. We are distinctively positioned to develop and deliver digital insurance solutions to Naver that will broaden access to small online business owners and help them grow and protect their businesses. We look forward to continually introducing a series of platform integrated solutions through our long-lasting partnership.” – Paul Jung CEO of Carrot.

Carrot anticipates that the concept of embedded insurance services into e-commerce transactions will expand to other ecosystem partners. 11Street, the 2nd largest shopping and open-market platform in Korea have started distributing Carrot’s shipping return coverage in 2020.