Auto insurance premium cut-mileage riders compete expansion

[Korea gimmingyeong financial newspaper reporter] The non-life insurance industry is becoming increasingly fierce competitive auto insurance market share. As is extended to the end of last year, the premium cut the wind is kicking sparked a small Criminal Samsung Fire & Marine Insurance Non-life insurers with no cuts in capacity are in full swing riders neolhimyeonseo mileage discounts to attract loyal customers.

Drag the uploading auto insurance market share last year, Samsung Fire Insurance industry ranked first going off was shuffled premium cut for the purpose. At the time, the insurance industry had expected a difficult year, yet frustrating the 'solo' Samsung F & M Reduce Car Insurance Premiums nature of high insurance loss ratio.

Particularly small and medium-sized firms were also views out that Samsung Fire cuts even if the cheaper the small- and medium-sized firms premium prices, said "direct, such as insurance premiums comparison will not be gin easily made the situation Samsung Fire naerindago premium market share significantly from the rise ' .

However, the market share of Samsung Fire & Marine Insurance Car insurance cuts has increased significantly since the Sudan, including the 30% recorded for the first time. On the other hand, Lotte fiddling with 5.01% in the last year, 5.45%, respectively Meritz fell from 2.24% to 2.06%, from 0.56% to 0.53% MG fiddling.

Non-life insurers are feeling the crisis went on each share aqueous (守城). Meritz Fire & Marine Insurance has lowered the standard terms in the revised premiums applied in March. Insurance, etc. These factors raise ganbyeongbi and 0.9% depending on the amount of insurance premium hikes present a new agreement with new injuries, but the car riders (-14.9%) and the vehicle covers collateral damage Rider (-8.8%) while improving overall insurance loss ratio improved that will cut premiums.

The K Insurance has also come to the April 1 start making a personal liability auto insurance premiums by 2.1% from gyeyakgeon. Also it has been shown to embark on an aggressive market share expansion by cheap insurance online ahead of this month's online auto insurance market with a premium cut.

Non-life insurers are lowering premiums can not afford to catch embarked on loyal customers to expand the mileage riders.

Hyundai has announced that it will expand its discounts from contractors responsible for initiating the next month if the annual mileage is less than 3000㎞ to 32% from 22%. It will also have a new mileage 10,000 5000㎞ intervals apply a discount rate of 6%.

KB has also joined non-life insurance. KB fiddling less than 15 days from next month 2000㎞ annual mileage is expected to expand its existing 23% discount up to 35%. 4000㎞ less mileage was also established to increase the discount rate to 21% or less, only ㎞ 30%, 1 1 million 2000㎞ period.



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