GA Industry Takes a Bold Step Towards Introducing Specialized Sales Companies
The Korea Insurance Agency Association (KIAA) is taking significant steps to introduce specialized sales companies within the GA (General Agency) industry The Korea Insurance Agency Association (KIAA) is taking significant steps to introduce specialized sales companies within the GA (General Agency) industry, a long-held goal. The association is preparing relevant legislation and plans to promote this initiative through a global symposium. This article examines the potential impact and importance of introducing specialized sales companies to the GA industry. The GA industry is on the cusp of a transformative change. The Korea Insurance Agency Association is leading the charge to introduce specialized sales companies—a long-desired objective of the GA sector. The concept of specialized sales companies involves GAs transitioning from merely facilitating insurance contracts to becoming financial firms that handle contract execution. If this system is implemented, GAs will evolve from simp...