Toggle

What Toggle does

Toggle (토글보험) is a Seoul-based insurtech brokerage operated by OpenPlan (오픈플랜 주식회사) through its licensed agency entity 토글보험서비스(주) (Toggle Insurance Service Inc.), with insurance broker/agent registration 제2020070006호. The company runs a mobile-first and web platform that aggregates insurance products from 12 major Korean carriers — Samsung Life, Hanwha General, Samsung Fire & Marine, KB Insurance, Hyundai Marine & Fire, Meritz, Lotte, NH, DB, AXA Korea, Shinhan, and Hana — and resells them to individual consumers under a time-unit (hours or days) 'pay only for what you need' pricing model. Coverage categories span overseas travel, long-term stays abroad, golf, leisure, lifestyle, and driver insurance, with pension and savings products added in December 2023. Toggle earns revenue through standard insurance commissions on policies sold via its platform, distributed through iOS and Android apps, the toggle.ly website, and a KakaoTalk customer support channel with social login via Kakao and Naver to reduce onboarding friction.

Underlying technology consists of a digital insurance aggregation and brokerage platform with real-time product comparison, NICE integrated real-name verification for enrollment, and a dedicated 'Toggle Switch' service concept intended to make policy activation feel as simple as toggling a feature. The build is dependency-light: integrations include LG U+ Web Fax for claims processing (now disrupted after the Easy Insurance Claim service ended July 31, 2025 due to partner Giwoong ICT contract expiration), KakaoTalk for chat support, and Kakao and Naver SSO for login. No proprietary AI/ML models, APIs, SDKs, MCP, patents, or third-party validation were disclosed.

Commercial operations remain domestic-only (Seoul, South Korea) with a headcount of 11-50. To date Toggle has raised approximately 4 billion KRW (~USD 3.0M) cumulatively, with a Series A in June 2022 from US-based investors including FuturePlay, Plug and Play, and TS Investment, alongside earlier support from the TIPS Program, Korea Venture Investment Corp, Nextdream Angel Club, CNTTECH, and New Paradigm Investment. Reported revenue is undisclosed, and the most recent operational updates are term-and-policy revisions and the discontinuation of the in-app claim service in mid-2025.

Name

Toggle

Legal name

토글보험서비스(주)

Website

https://toggle.ly

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Toggle is a Seoul-based insurtech brokerage aggregating policies from 12 major Korean insurers, selling unit-priced micro-duration travel, golf, leisure, lifestyle, driver, and pension/savings coverage to individual consumers via mobile app and web.

Ownership category

akta.pro rank

Product category

Insurance Brokerage (Insurtech)

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurtech-Enabled Brokerage (Digital Brokers & Aggregators) (FSAEADAN)

akta.pro secondary industries

Digital Distribution & Comparison Platforms (Aggregators/Marketplaces) (FSAGAGAA), Embedded Travel Insurance Distribution & APIs (THALALAA), Price Comparison, Deals, Cashback & Loyalty Shopping Platforms (BPAMAGAH)

Keywords

• Insurance brokerage platform
• On-demand insurance
• Insurtech services
• Travel insurance comparison
• Micro-duration insurance

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure

Revenue model

1. Insurance Commission: Toggle operates as an insurance agent and broker (대리점), earning commissions from partnered insurance companies for policy sales. The company is registered as a financial product sales agent/broker (보험대리점/중개업자) with registration number 2020070006.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Toggle is a mobile-first insurance aggregation and brokerage platform that allows individual consumers to discover, compare, and purchase insurance products by time unit (hours or days) rather than via traditional long-term policies. The platform distributes coverage from 12+ partnered Korean insurance companies across categories including travel, golf, leisure, lifestyle, driver, and pension/savings, earning commissions on each policy sold as a registered insurance broker (대리점 등록번호 2020070006).

Product overview

Toggle (토글보험) is a lifestyle-oriented on-demand insurance platform operated by OpenPlan (오픈플랜 주식회사). The core offering is time-unit based insurance coverage where users can purchase protection for specific durations (hours, days) as needed. The platform aggregates multiple insurance categories including travel (해외여행), long-term stay (장기체류), golf (골프), leisure (레저), lifestyle (생활), and driver (운전자) insurance. Toggle positions itself as a simplified alternative to traditional insurance with easy-to-understand explanations and streamlined enrollment. The platform expanded into pension and savings (연금・저축) products in late 2023, broadening from micro-coverage to longer-term financial products. Insurance partners include major Korean insurers such as Samsung Life, Hanwha General, Samsung Fire, Hana General, KB General, Shinhan, Hyundai Marine, Meritz Fire, Lotte General, NH General, DB General, and AXA General.

Differentiator

Problem solved

Functional benefit

Brands

• 토닥토닥: Branding/tagline associated with the Toggle insurance platform (appears in page titles and branding elements).

Quantifiable outcome

• Comparison of multiple insurance products from 12+ partner companies through single platform
• +1 more outcomes

Segments6 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

13 partnerships are on record, tiered core and flagship.

• Samsung Life Insurance (삼성생명)coreChannel Partner/ Reseller/ DistributorMajor Korean life insurance company listed as a Toggle partner. Toggle distributes Samsung Life insurance products through its platform.
• Hanhwa General Insurance (한화손해)coreChannel Partner/ Reseller/ DistributorMajor Korean non-life insurance company partnered with Toggle for product distribution.
• Samsung Fire & Marine Insurance (삼성화재)coreChannel Partner/ Reseller/ DistributorLeading Korean property and casualty insurer partnered as Toggle insurance product provider.
• Hana Non-Life Insurance (하나손해)coreChannel Partner/ Reseller/ DistributorKorean non-life insurance company as Toggle platform partner.
• KB Insurance (kb손해)coreChannel Partner/ Reseller/ DistributorMajor Korean insurance company partnered with Toggle for product distribution.
• Shinhan Insurance (신한)coreChannel Partner/ Reseller/ DistributorShinhan Financial Group insurance subsidiary as Toggle partner.
• Hyundai Marine & Fire Insurance (현대화재)coreChannel Partner/ Reseller/ DistributorMajor Korean property and casualty insurer partnered with Toggle.
• Meritz Fire & Marine Insurance (메리츠화재)coreChannel Partner/ Reseller/ DistributorKorean insurance company partnered with Toggle for product distribution.
• Lotte Insurance (롯데손해)coreChannel Partner/ Reseller/ DistributorLotte Group insurance subsidiary partnered with Toggle.
• NH Non-Life Insurance (농협손해)coreChannel Partner/ Reseller/ DistributorNonghyup agricultural cooperative insurance company partnered with Toggle.
• DB Insurance (디비손해)coreChannel Partner/ Reseller/ DistributorKorean non-life insurance company as Toggle partner.
• AXA Insurance (axa손해)coreChannel Partner/ Reseller/ DistributorGlobal insurance brand AXA's Korean operation as Toggle partner.
• OpenPlan (오픈플랜)flagshipStrategic or Co-development PartnerOpenPlan is the parent company and operator of the Toggle platform. It is the hosting provider (호스팅업체) for Toggle services. 토글보험서비스(주) uses OpenPlan as its hosting provider.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hyundai Hicar (현대하이카): Hyundai's direct-to-consumer auto insurance platform offering streamlined digital enrollment and price comparison across Korean carriers. Highly comparable to Toggle in target customer (Korean consumer) and digital brokerage model.
• Carrot Insurance (캐롯손해보험): Korean insurtech offering auto insurance with usage-based/telematics pricing and digital-first UX. Comparable to Toggle as a Korean consumer insurtech built around digital distribution and behavioral/usage-based product innovation.
• Policygenius: US digital insurance marketplace that aggregates life, home, auto, and disability insurance from multiple carriers. Closest international analog to Toggle's insurance aggregator/broker model across multi-carrier distribution.
• Coverwallet: Digital insurance brokerage platform that helps small businesses and individuals compare and purchase policies across multiple carriers online. Directly comparable to Toggle's agent/brokerage role with multi-carrier aggregation.
• GoCompare (GoCo Group): UK-based insurance and financial services comparison platform. Comparable to Toggle as a digital price-comparison and aggregator for personal insurance lines, though UK-focused.

Broad incumbents

• Lemonade: US digital-native insurance carrier using mobile-first UX, AI-driven underwriting, and behavioral branding ('Giveback'). Comparable to Toggle in mobile-first consumer insurtech positioning, though Lemonade underwrites risk rather than acting as a pure agent.
• ZhongAn Online P&C Insurance: China's leading online-only insurance company focused on embedded and micro-duration products through digital channels. Comparable to Toggle in on-demand/embedded insurance innovation in Asia, though ZhongAn is a licensed carrier.
• Kakao Pay (Insurance vertical): Kakao Pay is expanding into insurance distribution embedded within its super-app. Comparable to Toggle's insurance product offering and target Korean consumer base, with vastly larger distribution and balance sheet.
• Naver Pay (Insurance vertical): Naver Group's financial services arm offers insurance comparison and purchase within its Korean portal ecosystem. Comparable to Toggle in Korean digital insurance aggregation, with substantially more traffic and brand reach.

Emerging players

• Insurtech startups in Korea (e.g., Boinsure/볼트온, AIG Korea digital): Other emerging Korean insurtech players focused on specific verticals (e.g., mobility, embedded). Partially comparable to Toggle's niche digital-insurance focus and Korean consumer market, though specific names and traction are limited in public sources.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/openplan

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toggle