"Comparing Cancer and Car Insurance with Peers"…Naver Pay Insurance Analysis Launched

Comparison and Analysis of Coverage Details and Premiums

Naver Pay is launching a service that analyzes and compares insurance premiums and coverage, such as health and auto insurance, with peers based on MyData (personal credit information management business).

Naver Pay announced on the 26th that it has started this 'My Insurance Analysis' service.

This is an upgraded service from the existing Naver Pay 'Insurance Integrated Inquiry,' which integrates and summarizes subscribed insurance coverage information. It provides a multi-dimensional and objective analysis by comparing the user's insurance premiums and coverage with those of peers. The comparison criteria are based on insurance product data registered in Naver Pay's 'My Assets.'

Naver Pay explained that anyone can easily compare and analyze their insurance premiums and coverage through data visualization materials neatly organized with graphs and other tools.

The service can be accessed via Naver Pay or the Naver application (app). Users can instantly see through graphs how their ▲monthly total insurance premiums ▲insurance premiums by type such as whole life, accident, and health compare to peer averages, and also check what percentile they fall into within the entire peer group.

The 'Coverage Summary' section on the existing Naver Pay insurance page has been revamped as 'My Coverage.' Users can compare coverage amounts with peer groups through graphs of key insurance coverage items such as cancer, brain, and heart. Additionally, the 'Total Coverage' section allows users to view a summary of all coverages of the insurance they have subscribed to, including diagnosis, hospitalization, and surgery.

By registering a vehicle in the vehicle management service 'Naver MyCar,' users can also perform comparative analysis of auto insurance. Based on the average insurance premiums of Naver Pay 'My Assets' subscribers, users can predict how much their vehicle's insurance premium might increase in the future by looking at the average auto insurance premiums by vehicle age for the same model. Peer comparisons of auto insurance premiums can also be checked, and average premiums for popular car models are available.

This service can be used by linking insurance to Naver Pay 'My Assets,' a MyData asset management service. Existing users who have already linked their insurance can immediately use the upgraded 'My Insurance Analysis' service without any additional procedures.

Users can easily access the service by searching 'Naver Pay Insurance' in the Naver search bar. New users only need to complete MyData authentication once during the initial linking process, with no additional authentication required. A key advantage is that marketing consent is not requested during the subscription process, so there are no calls from consultants or additional product subscription solicitations.

A Naver Pay representative said, "If the previous goal was 'knowing my insurance well' to maximize use rather than forgetting about insurance after subscribing, this upgrade expands the service so users can easily perform 'my insurance comparison and analysis' themselves," adding, "We will continue to provide various services to help users utilize insurance more easily and proactively."