Wednesday, May 23, 2018

Eight Korean insurers tap online-only bank

Four domestic life and four non-life insurers are now selling their policies through K Bank, Korea’s first online-only bank.

The move becomes K Bank’s first foray into bancassurance, expanding its around-the-clock accessibility to another business.

The life insurers are K Bank shareholder Hanwha Life, IBK Insurance, BNP Paribas Cardif Life and Kyobo Lifeplanet Life.

The non-life insurers are Hanwha General, Hyundai Marine, MG Non-life and KB Insurance.

Another insurer, Lotte Insurance, is currently wrapping up a product review and could join the eight other insurers soon.

With the bancassurance deal, K Bank released 20 savings and protection type policies, called “mobilessurance”, through a single mobile application.

K Bank has enjoyed explosive popularity since its launch this year with 500,000 accounts at the end of October.

Share

Related Articles

InsuranceAsia News video

Shoaib Hussain, Milliman

Follow InsuranceAsia News

Partner Content

White Papers

Print Edition

SPRING 2018

Cat pricing unmoved