[Sponsored Report] Meritz launches English service for foreign drivers

Meritz auto insurance now offers services in English for foreign drivers.Provided by the company

Meritz Fire and Marine Insurance, the nation’s first property insurance company, launched an English-language auto insurance service especially for foreign customers.

The service is geared toward foreigners who own vehicles in Korea; suppliers, constructors and service providers working for the U.S. Armed Forces; tour vehicles exclusively for overseas visitors; and company cars owned by foreign-based companies. According to Meritz, the approximate size of the market is 13 billion won ($12 million).

Meritz has organized the service in a way that foreigners can get help starting from the application process all the way until compensation. The clauses are written in English and the monthly premiums are marked in both U.S. dollars and Korean won to help customers clearly understand the company’s terms and services. The company offers a 50 percent discount for drivers who have a clean accident record.

Additionally, English-speaking counselors are available at 10 agencies located near American army bases to explain the services further. The company also provides an automatic response system (ARS) in English by calling the number (02) 1600-9100 for drivers who need quick roadside assistance. The service includes emergency towing, jump-starting a battery, gas refuel delivery and lock outs.

Currently, American insurance companies such as AIG occupy half of the market and the rest is occupied by a small number of domestic companies. However, AIG, the biggest player in the market, discontinued sales of its auto insurance for foreigners this month. Meritzs challenges the market with an attractive substitute with stable and credible service based on 92 years of experience in the property insurance industry.

For more information about the service, call 1566-7711