Kyobo Lifeplanet Hosts Life Insurance Product Idea Contest

Kyobo Lifeplanet Life Insurance announced on the 15th that it will hold a life insurance product idea contest for gifts to loved ones.

[Asia Economy Reporter Oh Hyung-gil] Kyobo Lifeplanet Life Insurance announced on the 15th that it will hold a life insurance product idea contest that people want to gift to their loved ones.

Any Korean citizen can participate individually or in teams of up to four people, and each individual (team) can submit two or more ideas. The submission deadline is June 27, and selections will be made through document evaluation and non-face-to-face video presentation.

The final selected works will be awarded a total prize of 6 million KRW, with 3 million KRW for the grand prize, 2 million KRW for the excellence award, and 1 million KRW for the merit award.

Kyobo Life previously launched the 'Petsarangm Jeonggi Insurance' in 2018 based on customer ideas.

Kim Man-young, head of product development at Kyobo Life, said, "We aim to develop products that customers truly need based on their opinions and ideas to meet demand," adding, "We hope this will be an opportunity to inform more financial consumers about life insurance and allow them to experience it more familiarly."