"Can't Meet Agents" Insurance Sales Also Shrink Due to New Coronavirus

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[Asia Economy Reporter Oh Hyung-gil] Insurance planner Jeong Su-yeon (alias) recently received multiple cancellation notices from customers who had scheduled insurance consultations. Most customers said they would not meet for the time being due to the spread of the novel coronavirus infection (Wuhan pneumonia) through person-to-person contact. Jeong said, "Normally, I would meet customers in person for consultations, but these days, since people are reluctant to meet face-to-face, I have no choice but to recommend subscriptions via phone or the internet."

Concerns over the spread of the novel coronavirus infection have brought changes to the insurance sales field. Unlike banks, insurance sales are not branch-centered but occur through meetings between planners and customers, making it difficult for headquarters to control or manage and inevitably directly affecting sales. In fact, some planners are anxious about disruptions in their sales activities due to customers avoiding contact.

According to the insurance industry on the 6th, insurers are closely monitoring how the impact of the novel coronavirus infection spread will manifest. Although no concrete effects have appeared yet, there is a growing atmosphere of difficulty in consultations between planners, who are the core of insurance sales, and customers.

An insurance company official said, "To conduct insurance consultations, meetings with new customers must be arranged, but since people are reluctant to meet, there are challenges in sales," adding, "During morning briefings at branches, planners are reminded of precautions related to the novel coronavirus, and continuous measures are being devised to provide customer service."

Since planners meet customers individually, it is difficult for headquarters to control or manage, so they must pay more attention to personal hygiene. Planners are required to wear masks and are provided with hand sanitizers to maintain hygiene.

At the headquarters level, measures to prevent novel coronavirus infection are also in operation. Hanwha Life has prepared and is guiding behavioral guidelines to prevent infection, such as urging financial planners (FPs) in the sales field to wear masks during sales activities. The headquarters' 63 Building has installed thermal cameras to strictly manage access 24 hours a day.

Kyobo Life has placed hand sanitizers in its office buildings to help customers and employees prevent novel coronavirus infection and has made mask-wearing mandatory for employees who interact with customers. Thermal imaging detectors are installed and operated in major offices nationwide, and eco-friendly disinfectants are used to sterilize entrance doors, door handles, and elevator buttons.

Samsung Fire & Marine Insurance is also operating a crisis management committee at headquarters. The customer support center is equipped with disinfectants, masks, hand sanitizers for visitors, and thermometers. Recently, the Gangnam headquarters office was disinfected, and employees were given guidelines to prepare for infection.

Shinhan Life operates an emergency response team composed of the Employee Happiness Center, Customer Service Team, Channel Marketing Team, and various channel business teams. Group training sessions and internal events have been postponed or canceled to eliminate the risk of infection. Meritz Fire & Marine Insurance has notified employees of precautions via the company bulletin board and plans to conduct disinfection work at major owned and leased offices.

An insurance company official said, "We are asking planners to check for abnormal signs in customers," adding, "Since sales require meeting people, we are paying even more thorough attention to preventing novel coronavirus infection."

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