온라인 자동차보험시장의 문제점 및 개선방안

Problems of online Auto Insurance and Means to Improve those Problems

This paper aims at studying the online auto insurance market, focused on the literature study of insurance-related organizations and presented data, based on various press released material on the market, which is constantly expanded recently. In Chapter 2, statistical situation related to domestic e-commerce of on/offline auto insurance markets has been looked into, and in Chapter 3, the problems of the auto insurance-related e-commerce and means to improve those problems have been examined. Although, Korea had a trend of non-activated e-commerce between consumers and insurance firms, in view of the insurance product features vested with information asymmetry, unlike other fields, the digitalization age through Internet can be viewed as a cornerstone to solve the information asymmetry in the online (direct) auto insurance market, which has been recently riding an ascending wave. In this paper, the current status of on and offline auto insurance companies along with online insurance situation of advanced countries is to be looked into. Also, the strengths and weaknesses of price competitiveness on the part of the online auto insurance companies and the merits and demerits of convenient online subscription procedure and compensation services, as well as the emerging problems according to rejection to underwrite auto insurance and conflicts with existing sales channels including insurance planners and insurance brokers, have throughly been reviewed. As the means to improve such problems, the efficiency of insurance firms should be enhanced and adequate coordination with existing sales channels is required through not only avoidance of excessively low premiums, solidification of customer service through compensation services and constant expansion of subscription convenience to e-commerce, but also activation of joint marketing through alliance strategy with online portal sites and establishment of sophisticated underwriting system. Hopefully, this study will become the foundation to invigorate the e-commerce introduction to the auto insurance market.