NAVER Pay unveils "My Insurance Analysis" for independent peer-comparison of premiums

Insurance
06/12/2023 News

NAVER Pay introduces "My Insurance Analysis," leveraging the MyData service for a detailed peer-based evaluation of insurance premiums and coverages, spanning health to auto insurance. This innovative feature empowers users with independent assessments, eliminating the need for agent intervention.

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A refined version of the "All-in-One Insurance Overview," "My Insurance Analysis" facilitates a comprehensive evaluation of insurance premiums and coverages compared to peers. The comparison relies on the insurance product data registered in NAVER Pay’s "My Assets."

Visually intuitive data representations, including graphs, enable users to easily compare monthly premiums and coverage types within the NAVER app. The "My Coverage" feature allows graphical comparisons of essential coverages against peers, offering insights into a user’s premium positioning relative to a broader peer group.

For users of "NAVER MyCar," the feature extends to car insurance analysis, providing predictions on future premium adjustments and insights into popular car models, based on average premiums of "My Assets" users in NAVER Pay.

Accessible to users integrated with NAVER Pay’s "My Assets," the service requires no additional procedures for existing users. New users can easily access the service with a one-time MyData authentication during initial integration.

Crucially, the service respects user privacy by avoiding marketing consent solicitations, enabling users to independently assess their coverage compared to peers without agent contact.

A spokesperson from NAVER Pay emphasized the service's evolution, stating, “Previously designed to encourage users to stay aware of and engaged with their insurance plans, the service has now evolved to empower users to independently compare and analyze their insurance premiums and coverage. Looking ahead, we plan to introduce various services to facilitate users in utilizing their insurance more easily and proactively.”

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