Baemin Launches "Baro Mutual Insurance" in Response to Mandatory Paid Delivery Insurance
Joint Development and Launch of the Product with the Delivery Service Mutual Aid Association
Woowa Brothers’ logistics subsidiary, Woowa Youths, announced on the 25th that it has officially launched “Baro Mutual Insurance,” a time-based comprehensive insurance policy exclusively for delivery riders, developed jointly with the Delivery Service Mutual Aid Association.
This product was proactively developed in response to the amendment of the Act on the Development of the Service Industry for Daily Logistics, which came into effect in December last year. The revision requires certified parcel delivery service providers to verify that riders are enrolled in a comprehensive insurance policy for paid transportation. Due to this legal change, delivery services can no longer be performed with only liability insurance; riders must now be covered by comprehensive insurance that meets all requirements for personal injury, property damage, and full reimbursement coverage. The mandatory measure is being implemented in stages, starting with new riders as of June 3, and will be extended to all riders by December 3 this year.
The key feature of Baro Mutual Insurance is its “fast and simple enrollment.” By entering information into the Baemin Connect App, riders can complete the enrollment process within five minutes—without rejection or waiting due to screening—and begin deliveries immediately. Compared to existing time-based insurance products, it significantly reduces the waiting time between enrollment and coverage activation, improving accessibility for riders.
The coverage has been expanded compared to existing time-based insurance products. Baro Mutual Insurance is a fully compliant comprehensive insurance policy that meets all statutory requirements (personal injury, property damage, and full reimbursement). Riders who previously had difficulty obtaining insurance due to accident history or age can receive the same level of coverage. The insurance premium is set at 690 won per hour, maintaining the time-based payment structure according to actual driving time. It applies not only to motorcycles owned by the rider but also to rental motorcycles.
Hot Picks Today
Samsung Electronics to Announce Record-Breaking 1,000 Trillion Won Investment Plan Extending Beyond Honam to Chungcheong and Yeongnam Regions
- Elimination from Round of 32 After Failing Scenarios, Scotland Coach Resigns Voluntarily... What About South Korea?
- "The Cruel Side Effect of the Wegovy Craze"... K-Beauty Booms Amid Global Hair Loss Emergency [K-holic]
- Full-Scale Approval System for Disinfectants and Insecticides to Launch in July... Unapproved Products to Be Removed from Market
- If You’re Spotted—Gyaru or Schoolchild—You Get a “Shoulder Bump”: The “Butsukari Tribe,” Now a Social Issue [Sunday Japanese Culture]
A Woowa Youths representative stated, "We developed this product to lower the entry barriers for riders while maintaining the coverage of a compliant comprehensive insurance policy, so that no one is left unable to deliver or unprotected due to complicated enrollment conditions. We will continue to provide practical support to create an environment where riders can deliver with peace of mind."
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
