TAIPEI (TVBS News) — Fubon Insurance (富邦產險) unveiled Monday (Sept. 15) a groundbreaking partnership with smart parking platform USPACE to trial revolutionary "Vehicle Parking Protection Insurance" coverage. The innovative service, approved by the Financial Supervisory Commission, Taiwan's financial regulator, (金管會) in August, introduces a flexible "pay as you park" billing model that provides real-time insurance protection based on actual parking duration. Fubon plans to launch the service officially in the first quarter of next year through USPACE's mobile application platform.
Fubon Insurance detailed in its announcement that the coverage protects against vehicle collisions and theft of personal items during parking periods, offering immediate assistance for potential incidents. The embedded insurance system streamlines the experience for USPACE platform members significantly. Users complete a single authorization and identity verification process within the mobile application to receive automatic insurance coverage throughout their parking sessions, with combined insurance and parking fees creating what the company describes as "instant parking, instant protection, instant payment."
Fubon Insurance emphasized that this partnership represents the first cross-industry collaboration between Taiwan's insurance sector and a parking-sharing technology platform. The alliance capitalizes on USPACE's extensive network of more than 16,000 smart parking spaces and nearly 1 million registered car owner members across Taiwan. Since 2024, Fubon has expanded its platform partnerships with major companies including Taiwan Mobile (台灣大哥大), Starlux Airlines (星宇航空), and e-commerce giant Momo Shopping, delivering comprehensive "one-stop insurance" services to diverse customer bases. ◼ (At time of reporting, US$1 equals approximately NT$30.300)