"Accepting Insurance Fraud Reports" Hyundai Marine & Fire Insurance's Long-term Insurance Fraud Reporting Campaign

[Asia Economy Reporter Changhwan Lee] Hyundai Marine & Fire Insurance announced on the 30th that it will conduct a "Long-term Insurance Fraud Reporting Campaign" for its agents until May 31.

The campaign targets not only Hyundai Marine & Fire Insurance's exclusive Hi-Planners but also GA (General Agency) agents.

The company explained that the campaign aims to protect customers and agents in advance from criminal damages caused by hospital-broker linked organizations through the activation of insurance fraud reporting by agents, and to reduce loss amounts.

During the campaign period, the existing "Insurance Fraud Reporting Reward Criteria" will be raised and supplemented to provide rewards, and even reports with circumstantial evidence lacking decisive proof will be rewarded if deemed useful information, thereby increasing participation rates.

Agents who provide useful information will also be given preferential treatment in insurance contract reviews considering the scale of fraud and their contribution, and rewards will be paid differentially up to 1 billion KRW depending on the scale of fraud detection.

Additional rewards ranging from a minimum of 200,000 KRW to a maximum of 10 million KRW will be provided during the campaign period, and reports can be conveniently made through various channels such as the "Insurance Fraud Reporting Center" and the "Dedicated Fraud Reporting Hotline" on Hyundai Marine & Fire Insurance's website.

A Hyundai Marine & Fire Insurance official stated, "Through this campaign, we will raise awareness of insurance fraud and, based on the participation of agents, strive to prevent illegal inducements linked to brokers in advance so that innocent customers do not suffer damages."