SEOUL, Sept. 22 (Korea Bizwire) – Large general agencies (GAs) are expanding their sales power, employing more than 100,000 financial consultants and surpassing 10 percent market share. However, their cases of incomplete sales of insurance went up slightly. The Financial Supervisory Service (FSS) announced that as large GAs with more than 500 financial consultants are increasing [...]
SEOUL, Sept. 10 (Korea Bizwire) – While TV home shopping companies are making profits greater than one trillion won by selling insurance, consumers are facing damages because of dishonest sales tactics. In the meantime, insurance has settled as one of the main revenue streams for home shopping businesses, and the commissions received from insurance companies [...]
SEOUL, Aug. 14 (Korea Bizwire) – Various insurance products are said to have appeared in North Korea, including mobile phone insurance and insurance for fruit farms. The Korea National Insurance Company (KNIC), the state-run insurance company in North Korea, revealed on their homepage that issues related to mobile phone insurance were discussed at the annual [...]
SEOUL, July 25 (Korea Bizwire) – Ahead of a measure to relax regulations on barriers between different financial services such as banking, securities, and insurance, responses are mixed. Some large financial service firms with operations across multiple areas welcome the announcement while those that are not big enough fret that the measure would change the industry landscape completely [...]
LONDON & ATLANTA, March 21, 2014 (Korea Bizwire) - A quarter of insured motorists think that it is acceptable to mislead insurers to reduce their motor insurance premiums, according to a new study from LexisNexis. Released today by LexisNexis® Risk Solutions, the research found that 40% of UK motor insurance policy holders believe the cost [...]
SEOUL, South Korea, Sept 28 (Korea Bizwire) – In as many as seven cases out of ten in which a customer sues an insurance company, the defendant lost. As for the cases where an insurance company sues a customer, the success rate was only two thirds, meaning the corporate plaintiff lost 33 percent of times. That [...]