SEOUL, Jan. 2 (Korea Bizwire) – Starting Monday, consumers will have more options available when they search for car insurance on Boheom Damoa (e-insmarket.or.kr), a comparison website for various insurance products (including car, health, travel, etc.).
According to the Financial Services Commission, the website, which in the past only allowed insurance premium comparisons for domestic vehicles, now provides information on imported vehicles, LPG cars, and older generation models (pre-2015).
Boheom Damoa not only offers information on insurance products, but also lets users apply for coverage directly from the site.
As for car insurance, the website calculates the actual premiums that the driver will have to pay based on information including the car model and accident history.
Drivers wanting to purchase new vehicles, or those who wish to apply for car insurance for the first time, are also allowed to compare rates, officials added.
Officials expect the improved service to soon make the website account for 93 percent of all private car insurance contracts, from the previous rate of 75 percent.
By Kevin Lee (firstname.lastname@example.org)