Naver Pay Launches Pet Insurance Comparison Platform with Five Major Insurers

Seoul, South Korea - Naver Pay has launched a pet insurance comparison platform in partnership with five major South Korean insurers, including Meritz Fire & Marine Insurance and Samsung Fire & Marine Insurance.

The service allows pet owners to compare long-term pet insurance products with more than three years of coverage periods, offering customizable options for coverage rates, deductibles, and daily medical expense limits.

Users of Naver's 'Naver Pet' shopping platform can automatically import information about their pets, including age, spay/neuter status, and breed. 

The platform allows the registration of up to 15 pets per account, catering to multi-pet households.

The comparison service has partnered with industry leaders, including Hyundai Marine & Fire Insurance, DB Insurance, and KB Insurance. 

Naver Pay maintains price parity between the comparison platform and insurers' direct channels to ensure transparency.

Naver Pay offers 30,000 points as a sign-up bonus for new insurance subscribers through the platform to promote the launch.

"With more than 12 million pets in Korea, we launched this service to address one of the main concerns of pet owners: medical expenses," said Yeana Cho, Insurance Service Leader at Naver Pay.

The company plans to expand its insurance partnerships as new long-term pet insurance products enter the market.