Exclusive Usage Rights Already 3 Cases This Year... Hanwha General Insurance and Mirae Asset Life Acquired
Hanwha General Insurance Snow-Specific Insurance
Mirae Asset Life Insurance Receives 3-Month Exclusive Use Right for Multi-Childbirth Cancer Insurance Discount Rider
KB Insurance Previously Obtained the First This Year
[Asia Economy Reporter Ki Ha-young] Since the beginning of the year, insurance companies have been consecutively acquiring exclusive usage rights, a type of patent right. This is the result of launching industry-first products by understanding consumer needs.
According to the industry on the 29th, Hanwha General Insurance recently received exclusive usage rights for three new risk coverages of its eye-specific insurance product, "Non-dividend Bright Eye Health Insurance," from the General Insurance Association's New Product Review Committee for three months (January 27 to April 26). Earlier this month, Hanwha General Insurance introduced an eye-specific insurance product that provides focused coverage in stages from preventive examinations to surgeries for ophthalmic diseases such as cataracts, conjunctivitis, and dry eye syndrome. The exclusive usage rights recognized this time are for retinal specific disease diagnosis benefit, corneal specific disease diagnosis benefit, and eye-specific injury diagnosis benefit.
Mirae Asset Life Insurance also received exclusive usage rights for three months (January 26 to April 25) from the Life Insurance Association's New Product Review Committee for a special rider that offers premium discounts for ovarian cancer and breast cancer to women with multiple childbirths. The originality of this rider was recognized considering that childbirth affects the secretion of female hormones, which are risk factors for ovarian and breast cancer.
The first product to acquire exclusive usage rights this year was KB General Insurance's new risk coverage, "Thyroid Cancer Hormone Drug Authorized Treatment Fee." This coverage pays insurance benefits once upon the first occurrence if the insured is diagnosed with thyroid cancer during the insurance period and receives authorized thyroid hormone drug treatment after thyroid cancer surgery. It was granted exclusive usage rights for three months (January 18 to April 17).
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Exclusive usage rights are a type of patent system for insurance products. The New Product Review Committees of the Life and General Insurance Associations grant insurance companies that develop creative insurance products for consumers exclusive rights to sell the product for a certain period. Typically, originality, progressiveness, and usefulness are evaluated, and an exclusive period of 3 to 9 months is granted. Last year alone, a total of 25 cases were approved for exclusive usage rights, including 6 from life insurers and 19 from general insurers.
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