News eDaily05 Oct 2017

South Korea:More car owners buy auto insurance online

05 Oct 2017

An increasing number of South Korean consumers are buying auto insurance online in search of lower premiums and more convenience, according to the Korea Insurance Development Institute (KIDI).

Data from the institute show that 20.5% of the nation's 15.4 million car insurance policyholders filed their auto insurance applications online, such as smartphones and computers as of end-June. The percentage was up from 15.5% a year earlier, reported Yonhap News Agency.

Of the online subscribers, 69.4% purchased insurance via computers, with the remainder applying through smartphones. In particular, the number of mobile applicants increased 2.3 times over the cited period to 970,000.



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