"The More Insurance Policies You Have, the More Likely You Choose Internet Insurance"

[Asia Economy Reporter Oh Hyung-gil] It was found that the more insurance products a person has subscribed to, the more they prefer internet insurance.

According to an online survey conducted by Kyobo Lifeplanet Life Insurance targeting 1,000 internet insurance subscribers, there was a tendency for the subscription rate of internet insurance to increase as the number of subscribed insurance products increased.

They generally showed consumer behavior of collecting various information through multiple channels such as insurance company websites, portal sites, and financial apps before subscribing to insurance, directly comparing and analyzing prices and coverage details.

Internet insurance was noted for its advantages of low premiums (54.8%) and convenient subscription procedures (17.5%). It was also found to have high trust and satisfaction because customers can select only the necessary coverage and subscribe based on information they have directly researched.

The repurchase intention rate among internet insurance customers was 57.8%, and the recommendation intention rate to others was 67.1%. For Kyobo Lifeplanet subscribers, the repurchase intention rate was 94.4%, and the recommendation intention rate was 90.4%, showing higher figures.

Additionally, 23.6% of customers expressed discomfort with the exposure of personal information entered during the insurance premium calculation process in subscribing to internet insurance.

On the other hand, many respondents (45.1%) found it difficult to easily understand information about the products, which was pointed out as a limitation of internet insurance.

A Kyobo Lifeplanet official explained, "Due to the nature of internet insurance, customers must understand product information themselves and decide on subscription, so a basic understanding of insurance is a prerequisite. We strive to minimize inconvenience by operating customer convenience services to the fullest, such as providing phone consultations and chatbot services to customers who experience difficulties in understanding products or during the subscription process."

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