Blocking Insurance Agent Marketing Calls at Once... Financial Sector Expands Do Not Call List

From now on, marketing contacts not only from banks and card companies but also from insurance planners affiliated with large insurance agencies (GA) can be easily rejected through the financial sector's 'Do Not Call System.'

The Financial Services Commission announced on the 2nd that it will expand and reorganize the financial sector Do Not Call System in this way. The financial sector Do Not Call System is a system that allows users to block marketing contact (phone calls and text messages) from financial companies for five years with just one click. Currently, 12 sectors participate, including banks, life insurance, non-life insurance, financial investment, credit finance, savings banks, agricultural and livestock cooperatives, fisheries cooperatives, credit cooperatives, forestry cooperatives, Saemaeul Geumgo, and post offices.

According to the Financial Services Commission, with this reorganization, 70 GAs with more than 500 insurance planners affiliated will newly participate in the financial sector Do Not Call System in addition to the existing 12 sectors. As a result, marketing contacts from insurance planners affiliated with GAs can be rejected at once with one click.

Additionally, a 'reporting function' has been newly established. If marketing contacts are received despite applying for the Do Not Call service, consumers can report this, and individual financial companies will verify the facts, take action, and notify the consumer of the results within two weeks. Furthermore, each financial company will continue efforts to enhance the effectiveness of the Do Not Call System by conducting self-inspections and taking follow-up measures.

If a financial consumer applies for the Do Not Call service and then consents to marketing reception, guidance will also be strengthened. In principle, if a consumer consents to marketing contacts during the application installation or financial product contract process after applying for the Do Not Call service, marketing contacts are allowed respecting the consumer's latest intention.

However, since there may be cases where consumers unintentionally consent to marketing contacts during this process, going forward, the details of consent and how to refuse will be separately notified via text messages. Also, notifications will be sent via text messages when Do Not Call registration, withdrawal, or expiration (5 years) approaches, improving the effectiveness of the contact prohibition request system.

This Do Not Call reorganization will be implemented from the end of August. A Financial Services Commission official stated, "The financial authorities and associations will expand financial company participation and continuously improve functions and convenience so that financial consumers can use the financial sector Do Not Call more conveniently."