The insurance associations and the Financial Supervisory Service (FSS) have decided to bifurcate their complaint-handling processes to increase efficiency, with insurance associations taking on non-dispute complaints while the FSS focuses on dispute-related cases.
The FSS, the Korea Life Insurance Association, and the General Insurance Association of Korea announced on July 5 that, starting this month, the insurance associations will handle complaints regarding fault ratios in car accidents between drivers.
Building on this, the scope of complaints handled by the insurance associations will be expanded in phases, with complaints regarding unkind behavior by insurance company employees to be included starting in September.
Specifically, the insurance associations will handle complaints related to insurance solicitor commissions, appointments and dismissals, and grievances regarding insurance company employees.
This measure is intended to increase the processing speed of insurance-related complaints.
According to the FSS, out of a total of 128,419 financial complaints filed last year, 62,937 were insurance-related, accounting for 49% of the total.
The average processing time for insurance complaints was 56.2 days, which was longer than the average processing time for all financial complaints (46.6 days).
The insurance associations have reorganized their structures to establish dedicated departments for handling complaints and have secured professional personnel.
In particular, to enhance the fairness and transparency of complaint processing, they have decided to establish a Complaint Review Committee that includes external experts and the FSS team leader in charge of complaints.
The FSS stated, "By having the Life and General Insurance Associations promptly handle these complaints, and allowing the FSS to focus on illegal or unsound business practices by insurance companies and disputes related to insurance policy terms, we expect to further strengthen the protection of consumer rights."
(Photo: Yonhap News)