[Photo by Yonhap News]
The Life Insurance Association and the Non-Life Insurance Association announced on May 31 that they have selected a total of 22,305 certified advisors for this year. The certification period will begin on June 1 and last for one year.
The certified advisor program has been in operation since 2008, aimed at enhancing the professionalism of insurance advisors and establishing a culture of consumer protection.
To qualify as a certified advisor, individuals must have worked for the same insurance company for at least three years and have no cases of incomplete sales. They must also meet criteria such as a contract retention rate of over 90% for the 13th month and over 80% for the 25th month. Additionally, there should be no history of sanctions related to violations of insurance laws in the past three years.
This year, the certified advisors include 11,460 from life insurance and 10,845 from non-life insurance, representing 9.5% of the total candidates and 6.9% of non-life insurance agents.
The average tenure for life insurance certified advisors is 17.7 years, with a retention rate of 97.4% for the 13th month and 91.0% for the 25th month. Their average annual income is 142.63 million won.
For non-life insurance certified advisors, the average tenure is 19.3 years, with retention rates of 95.8% for the 13th month and 88.2% for the 25th month, and an average annual income of 120.05 million won.
The associations explained that the total number of selected advisors has decreased compared to last year (30,778) due to stricter certification criteria implemented this year. Starting this year, the retention rates from the 'e-Clean Insurance Service,' which allows consumers to directly check advisors' incomplete sales rates and contract retention rates, have been applied.
A representative from both associations stated, "We plan to continuously enhance the fairness and reliability of the program so that the certified advisor system can become a symbol of trust in the insurance industry."
* This article has been translated by AI.
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