Insurance System Upgrade on the 14th and 18th... Credit Information Services Urges Early Enrollment

Difficult to Check Existing Indemnity Coverage... Advance Enrollment in Travel Insurance Recommended

The Korea Credit Information Services announced on the 10th that, to ensure stable operations, it will upgrade its insurance credit information IT system on the first day of the Lunar New Year holiday, the 14th, and on the last day, the 18th.

Specifically, the system upgrade will take place from 12:00 a.m. to 8:00 a.m. on the 14th, and from 12:00 a.m. to 10:00 a.m. on the 18th.

The Credit Information Services' insurance credit information IT system is used by insurance companies when concluding insurance contracts. During the upgrade windows, some insurance enrollments may not be processed smoothly.

The Credit Information Services stated, "If you need to enroll in insurance in the early morning of the first or last day of the Lunar New Year holiday, we recommend signing up in advance, taking the system upgrade schedule into account."

For travel insurance, which people purchase for domestic and overseas trips, enrollment will still be possible even during the system upgrade hours.

However, it may be difficult to check whether a person is already enrolled in existing indemnity medical insurance, so those wishing to purchase travel insurance should consider this and enroll in advance.

For mandatory insurance such as automobile insurance, it is generally sufficient to enroll by midnight of the expiration date, so the impact of the system upgrade is expected to be minimal.

A representative of the Credit Information Services said, "This upgrade of the insurance credit information IT system is an unavoidable measure to improve the performance of aging equipment and to provide stable services. We selected time slots that would have minimal impact on the public's insurance enrollment and limited the work to only the essential hours," adding, "We will continue to work closely with insurance companies and related institutions during the Lunar New Year holiday period to ensure that the public does not experience inconvenience in using insurance services."