Hana Insurance Obtains Exclusive Rights for 'Hana Smart Child Life Insurance'

The Industry's First Digital Mini Life Insurance Offering Comprehensive Coverage for Child Abuse Victims (Excluding Relatives)

[Asia Economy Reporter Ki Ha-young] Hana Insurance announced on the 8th that its 'Hana Smart Child Life Insurance,' which focuses on protecting children and adolescents from daily life risks, has been granted exclusive usage rights in recognition of its originality and usefulness.

This is the first time in 1 year and 5 months that exclusive usage rights have been granted in the small-amount short-term insurance market.

This product was the first in the industry to develop coverage for civil lawsuit attorney fees and medical expenses related to child abuse (excluding relatives), which were not covered by existing insurance products.

It was highly evaluated for focusing on the child's damage facts and countermeasures rather than the type of perpetrator or act.

According to the 2019 Ministry of Health and Welfare's 'Key Statistics on Child Abuse,' about 6,000 cases of child abuse occurred in 2019 in places such as neonatal rooms, daycare centers, kindergartens, schools, and academies, and the number is increasing every year. Accordingly, Hana Smart Child Life Insurance, which focuses on protecting not only child abuse victims but also victims of school violence, children's traffic accidents, and child liability, is expected to alleviate the worries and anxieties of parents with children taking their first steps into society.

An insurance industry official said, "With the government's revision of the Insurance Business Act in June to revitalize small-amount short-term insurance, the competition for exclusive usage rights in the long-term insurance market is expected to extend to the small-amount short-term insurance market in the future."

Hana Smart Child Life Insurance offers an annual premium of around 10,000 to 20,000 KRW (based on preschool and elementary school children) and allows insurance enrollment within 3 minutes through the mobile website and application (app) without any additional supporting documents.

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