# Lotte Insurance Launches Industry-First Parking-Based Premium Discount Drivers can now receive up to 15% off insurance premiums based on non-driving days. - **Source:** [Kyunghyang](https://www.khan.co.kr) - **Published:** 2026-11-09 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/124d75f2-22dc-4c42-8af6-593656407e29 ## New Usage-Based Discount Model Lotte Insurance has introduced an industry-first parking-based discount policy in South Korea. This initiative allows policyholders to reduce their annual premiums by up to 15% based on the number of days their vehicle remains parked. The program specifically targets customers who use public transportation or drive their cars only on weekends. ## Tiered Discount Structure Explained The discount is calculated based on the number of days a vehicle is not operated within a 30-day period. Policyholders receive a 3% discount for 10 days of non-usage, 10% for 15 days, and 15% for 25 days. This tiered approach directly correlates insurance costs with the actual frequency of vehicle usage. ## Data Verification Mechanisms The insurer verifies non-driving days using connected car data from Hyundai, Kia, and Genesis vehicles. For these cars, any day with less than one kilometer of driving is classified as a non-usage day. Additionally, the company utilizes entry and exit records from the apartment management application 'Apartner' to track parking duration. ## Integration With Existing Policies This new parking discount can be combined with existing mileage-based discount policies. Customers who own connected cars can further stack these savings with specific connected car discounts and safe driving score incentives. This multi-layered discount strategy provides significant flexibility for policyholders looking to optimize their total insurance expenditure through various behavioral metrics. ## Technical Requirements for Access To utilize the 'Apartner' app for verification, users must have a parking record at their residential complex within the last three months. Lotte Insurance plans to roll out this feature sequentially, prioritizing apartment complexes that provide high-accuracy entry and exit data to ensure the reliability of the calculated non-driving days. ## Strategic Shift in Underwriting By incorporating daily parking habits into its pricing model, Lotte Insurance aims to reflect individual driving patterns more precisely. This shift moves beyond traditional demographic-based risk assessment, focusing instead on real-time behavioral data. Such granular underwriting allows the company to offer more competitive rates to low-frequency drivers in urban environments. ## Market Context and Implications The insurance industry is increasingly leveraging telematics and IoT data to personalize premium calculations. By rewarding inactivity, Lotte Insurance is incentivizing lower road usage, which may indirectly contribute to reduced traffic congestion and accident risks. This trend reflects a broader move toward usage-based insurance products that prioritize individual customer behavior over averages. ## Future Outlook for Policyholders As connected car technology becomes more ubiquitous, insurers are likely to expand these data-driven discount programs. Policyholders should monitor their driving habits and data-sharing permissions to maximize potential savings. This development signals a future where insurance premiums are dynamically adjusted based on daily lifestyle choices rather than static annual risk profiles. ## Sources covering this story - https://www.khan.co.kr/article/202611091535001/?utm_source=khan_rss&utm_medium=rss&utm_campaign=total_news — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._