SEOUL, July 8 (Korea Bizwire) – South Korea’s leading insurance company and a convenience store franchise are teaming up to promote pet insurance policies at convenience stores and in non-face-to-face transactions, commonly referred to as ‘untact’ transactions in South Korea.
BGF Retail, operator of convenience franchise CU, announced Tuesday that it will introduce a pet insurance product available at its stores, a first for the convenience store industry.
This pet insurance policy, called ‘Samsung Fire Direct Pet Insurance’, covers overall medical costs for pets and liability to third parties for any accident but there will be no refund at the maturity date. Customers purchasing this product through ‘untact’ means will benefit from a 10 percent discount compared to the price for an in-person transaction.
By reading QR codes on a smartphone, customers can easily buy the insurance product. Those wanting a more detailed explanation can make use of a screen on the delivery devices installed in CU convenience stores.
Pet owners who are willing to subscribe to this service will also have to submit a picture of their furry friend as a qualification for purchasing an insurance policy.