The Korea Insurance Brokers Association Selects 2,002 Agents as 'Blue Ribbon Consultants'

Logo of the General Insurance Association

[Asia Economy Reporter Oh Hyung-gil] The General Insurance Association announced on the 2nd that it has selected 2,002 insurance planners as '2020 Blue Ribbon Consultants.'

The association stated, "We have been selecting exclusive agents with outstanding sales performance and recruitment soundness (incomplete sales rate and contract retention rate) based on strict criteria," and explained, "This year's Blue Ribbon Consultants increased by 494 from the previous year (1,508) thanks to the complete sales efforts and customer-centered ethical sales in the general insurance industry."

The Blue Ribbon is awarded only to planners who have been selected as excellent certified agents for five consecutive years and have passed a rigorous screening process.

To qualify for the Blue Ribbon, agents must have no violations of recruitment order, maintain a 13th-month insurance retention rate (the rate at which insurance is maintained after 13 months of contract) of 95% or higher, a 25th-month insurance retention rate of 90% or higher, and exceed 1,500 contracts (including 300 long-term insurance contracts).

This year’s Blue Ribbon Consultants recorded a 13th-month insurance retention rate of 97.09% and a 25th-month insurance retention rate of 93.35%.

The youngest recipient of this year’s Blue Ribbon was 32-year-old Consultant Kim Young-joo. The gender ratio showed that females accounted for 62.2%, higher than males at 33.8%. By age group, those in their 50s were the largest at 57.0%, followed by those aged 60 and above (26.6%), 40s (15.0%), and 30s (1.4%). The oldest recipient was 78 years old.

The association plans to support the sales activities of Blue Ribbon Consultants and promote the Blue Ribbon certification system. To allow insurance consumers to verify Blue Ribbon certified agents, the association will disclose certified agent information on the Blue Ribbon website and provide digital certificates to the certified agents.

This content was produced with the assistance of AI translation services.