“Mr.
Se-yong Eo, the executive officer of
INSWAVE Systems Inc., Opens On-line
Car Insurance Abroad”
“Information Technology
(IT) is altering the paradigm of the
auto insurance industry.” Mr. Se-yong
Eo (37), the executive officer of INSWAVE
Systems Inc., is a worshipper of the
on-line direct sales of auto insurance.
He states, “The on-line auto insurance
business has 10 times higher efficacy
than the off-line in correlations between
investment costs and sales efficacy,”
“The business model of on-line auto
insurance will continue to expand into
the sectors of life insurance, cosmetic
sales, and call-center.” That is, when
the insurance companies become more
competitive through on-line auto insurance
business, the benefits and the qualities
of the service for the consumers will
improve. Mr. Eo is well known in the
insurance industry as an enterpriser
who has deducted 15% of car insurance
fee. INSWAVE is an enterprise specializing
in the development of on-line insurance
systems taking charge of the constructions
of systems for the three out of five
the original on-line auto insurance
companies in the nation, including the
First Fire & Marine Insurance in
2003. Mr. Eo has contributed towards
development of the first on-line auto
insurance systems in Korea playing an
active part as the chief of system development
team of Kyobo auto insurance even before
the foundation of INSWAVE Systems. INSWAVE
is well known as the best enterprise
in the on-line insurance systems, systematically
coordinating various operation processes,
data management, coordinated call center,
and web marketing. With the domestic
technique reflecting the characteristics
of inland market, regulations and the
customs concerning insurance sector,
INSWAVE confronts the challenges by
the foreign enterprises. Mr. Eo has
announced “The on-line direct sales
of the insurance industry has settled
as a trend,” “The company is planning
to go abroad based on the technology
and experience obtained in Korean market.”
