The Korea Insurance Agency Association (Insurance GA Association) announced on the 6th that Samsung Financial Partners has joined as a regular member. Along with this, a "voluntary agreement for consumer protection and internal controls in insurance agencies" was also established.
Samsung Financial Partners is a large GA that was launched last November after the merger of 72 exclusive agencies of Samsung Life Insurance, boasting approximately 5,800 planners and 260 branches. The association noted, "We welcome Samsung Financial Partners' membership and the signing of the voluntary agreement, and we will work closely with the association and existing member companies to jointly address the issues of Samsung Financial Partners and promote a fair insurance solicitation channel environment."
Additionally, it was noted that the association plans to provide comprehensive support so that Samsung Financial Partners can swiftly establish a stable internal control system as a large GA, actively utilizing the association's excellent certified planner program, compliance and consumer protection training courses, compliance and internal control consulting, advertising review support, management disclosure support, and the comparative explanation system.
The association explained that this membership of Samsung Financial Partners and the signing of the voluntary agreement are expected to mark an important turning point in ensuring the independence and protection of GA rights, as well as establishing a solid cooperation system within the GA industry and securing fairness in insurance solicitation channels.
A representative of the association stated, "We promise to do our utmost to create a sound insurance market environment and enhance consumer trust together with all member companies in the future."