Samsung Fire & Marine Insurance Sees 37% Increase in Overseas Travel Insurance Subscribers in July

Cumulative Subscribers Up 52% and Gross Written Premiums Up 15.4% from January to July

Samsung Fire & Marine Insurance announced on August 5 that its overseas travel insurance has been experiencing rapid growth recently.

Last month, Samsung Fire & Marine Insurance's direct overseas travel insurance grew by 37.1% in gross written premiums and by 37.6% in the number of subscribers compared to the previous month. Cumulatively from January to July this year, the number of subscribers increased by 52% and gross written premiums rose by 15.4% compared to the same period last year.

In July alone, the proportion of subscribers in their 20s and 30s accounted for 52.6%, which is a 2.4% increase from the previous month. This result is attributed to the continuous expansion of digital platform-based customer contact points, such as joining the Naver comparison and recommendation service and strengthening partnerships with Toss.

Services that provide new experiences for digitally oriented customers are also drawing attention. The overseas travel insurance gifting feature has become a way to convey positive feelings and consideration to friends or family members preparing for a trip. During the summer season, 45.2% of gifts were given to friends or acquaintances. In the case of families, many chose to sign up together by utilizing the companion discount benefit. This reflects both the increase in family trips during the summer peak season and the changing travel patterns and emotional needs of customers.

The newly launched "Samsung Fire & Marine Insurance 365 Annual Overseas Travel Insurance" in June has also attracted attention. This product minimizes the inconvenience of having to enter information and sign up for each trip after the initial enrollment, which has been well received by customers. An analysis of subscribers showed that 34.8% were in their 40s, a group characterized by greater financial stability and frequent travel. This figure significantly exceeds the 19.2% share of subscribers in their 30s, who ranked second.

The "Outbound Flight Delay and Cancellation Compensation Rider," launched earlier this year, has also received high satisfaction. It pays out a fixed amount of insurance money depending on the length of flight delay. Customers are proactively notified about delays, and claims and payouts can be processed simply by submitting a photo of the boarding pass. Thanks to this convenience, this rider recorded the second highest number of claims and payout amounts among overseas travel insurance riders, following the portable belongings loss rider.

A Samsung Fire & Marine Insurance representative stated, "Overseas travel insurance is now becoming more than just simple coverage; it is establishing itself as a companion that provides positive experiences throughout customers' travel preparations and daily lives," and added, "We will continue to support every step of our customers' journeys, from pre-departure to return, with products and services tailored to various customer needs."