'Zero sum game' 車 insurance market ... Criminal small premium cut marched

[Korea gimmingyeong financial newspaper News] Samsung Fire shuffled the end of last year was lower car insurance premiums exceeded 30% market share this year. Small and medium-sized firms also felt a sense of crisis to lifting jump right lowering the prelude to the appearance of the car insurance market zero-sum game.

Auto insurance loss ratio is typically known as a large margin of insurance premium cut a small market. In particular, this month automobile insurance standard terms are changed with a bigger burden on the insurance conditions for the insurance money owed to customers increased. Accordingly, the insurance industry's assessment as "chogangsu 'for the insurance cuts last year, and the rest of Samsung Fire & Marine Insurance naenwatda are cautious not afford to cut decisively.

Samsung premium cut determines the fire had fruition. Last year, recording a market share of 20% hubandae haeohda its first record 30.96 percent in January. The market share of small and medium-sized firms fell. Lotte fiddling with 5.01% last year from 5.45%, respectively, Meritz Fire fell from 2.24% to 2.06%, from 0.56% to 0.53% MG fiddling.

Ventured off to small and medium-sized share of the Apostle to the Mercury. AXA has launched a direct equity adjustments, such as vehicle collateral month 9.1% discount. AXA Direct official 'average premium reduction rate is 1%, but about 74% of car insurance subscribers can subscribe to deviation collateral physical collateral is lower insurance premiums because down to about 64% share of the total premium haptic is greater he'd explained.

Two months has changed to reflect the standard car insurance premium hikes agreement was also shuffled Meritz 'Alone cuts' in the subsequent situation. According to the revised terms and conditions for about 0.9% premium hikes factors are present, but the entire premium will be a reduction in the loss ratio improved rider Shanghai Automotive (-14.9%) and the vehicle covers collateral damage Rider (-8.8%), while premiums improved.

K Insurance also comes more responsibility start April 1 gyeyakgeon personal auto insurance premiums by 2.1% from naerindago said Monday.

In terms of type of vehicle is a large vehicle (Granger, etc.), the average discount rate of 3.8%, HOV (Carnival, Santa Fe, etc.) views the discount rate to be higher than the overall rate cuts mean collected premiums more affordable relative to an average of 3.7%. Depending on the age and model differences, but Kay said no more fiddling large-scale insurance premium discounts to drivers 30-40 center.

In addition to preparing online auto insurance products to more fiddling K aims to launch later this month. Online insurance products boast the cheapest insurance premium nature of the channel that costs less expense. With the launch of affordable online insurance premiums, with a spiral cut it can be interpreted as an aggressive share.

MG Insurance is also expected to launch around May online car insurance. MG Insurance officials said that 'schedule was somewhat delayed by problems such as computational development, said "a little delayed plans to begin full-scale sales around May propped goods ahead of schedule."

The combined ratio increased basic premiums are reduced by taxing insurance companies have ventured out another way to share water-based.

Hyundai said the car eased underwriting guidelines last month. Vehicles also figured in an accident within three years of the other insurance subscribers will sign up if I had not been amended to allow for an accident last year. Also make changes to allow the subscription even if there is no subscription right before one years auto insurance career.

More mileage riders were also expanded. Hyundai is 4 or less from 1 January if annual mileage is 3000km responsible for initiating gyeyakgeon will apply the discount at the original discount rate of 22% to an industry-leading 32% to come. The mileage than 5,000km per 10 000 is less than 1 km 27%, will apply a 20% discount.



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