Samsung Fire & Marine Insurance, the Samsung Group's non-life subsidiary, intends to reduce its motor rates by 1.2%. This decision, which will come into effect in April 2022, follows the drop in the number of road accidents during the pandemic period.
Industry professionals expect the South Korean insurer's move to prompt other major insurance companies to reduce their prices.
Read also | An insurance company joins the Korean metaverse [4]
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-188-february-2022
[4] https://www.atlas-mag.net/en/article/an-insurance-company-joins-the-korean-metaverse