VivaRepublica made an announcement on the 7th that it will release actual mini-insurance products that will guarantee daily risks. VivaRepublica is operating a mobile financial service called ‘Toss‘.
Toss has established strategic partnerships with Samsung Fire Insurance, Ace Insurance, a Korean branch of CHUBB Group, and Kyobo Life Planet Insurance, an Internet life insurance company founded by Kyobo Life Insurance. Toss’s mini-insurance product guarantees major risks that customers face in real life at a low price.
Currently, the mini-cancer insurance (Kyobo Life Planet), which guarantees high rates of cancer such as stomach cancer, lung cancer, and liver cancer, and ski insurance, which can guarantee risk of skiing, such as injury, fracture, and damage compensation at $1.34 USD (1,500 KRW) per day, and the cost of purchasing overseas medical products, transportation costs, and flight insurance with 20% lower than off-line.
“We will continue to introduce a variety of mini insurance products that are essential to our daily lives.”
CEO Lee seung-gun of Toss