Industry Association announced four key strategies for the growth of the non-life insurance sector: expansion of older adult-customized insurance plans, digital innovation, establishing a sustainable insurance system and solidifying consumer-centric services.
Target Older Customers - Aiming to expand older adult-customized insurance products and services, the association plans to pursue regulatory improvements, particularly in easing entry barriers for nursing and caregiving services business into the markets. It also plans to further utilize public health care data in developing more sophisticated older adult-tailored insurance plans.
Low Birth Rate - Non-life insurance sector plans to upgrade insurance its products to address the country's low birth rate by introducing youth- and child-friendly services in medical insurance, such as covering medical expenses related to pregnancy and childbirth.
Additionally, auto insurance providers plan to offer more discounts on insurance premiums for families with multiple children.
Data Driven - Another key strategy of the industry's growth lies in advancing insurance products based on data-driven innovation, as it can result in a wider range of tailored insurance products for each customer.
Overseas Opportunity - Association vowed to support non-insurance companies' attempts to make a foray into foreign markets to seek another growth momentum.
No comments:
Post a Comment