A Compartive Study on the Overseas Business Activity of Insurance Companies in Korea and Germany - a Case of German Legal Expenses Insurance Company -

한국 및 독일 보험회사의 해외 진출 모델 비교 연구 -독일 법률비용보험회사의 사례를 중심으로-

  • Shin, Dong-Ho (Division of Finance and Insurance, Sangmyung University)
  • 신동호 (상명대학교 금융보험학부)
  • Received : 2010.06.09
  • Accepted : 2010.08.10
  • Published : 2010.08.31


This paper attempts to find out implications based on the comparative analysis of overseas expansion model between the Korean insurance companies and the German one. There are three types of the strategies of the overseas-expansion-model of insurer, i.e. customer-oriented localized strategy, niche market-oriented strategy, and growing market-oriented strategy. From the review of related literatures and through an interview conducted by the insurance specialist, the findings are some differences between Korean and German insurance companies, when they go into foreign insurance markets. Th significant differences between Korean and German insurers are a customer oriented localized strategy and niche market oriented strategy. The Korean insurer shows a strength on the overseas-expansion-strategy, but the most clients of the Korean insurer on overseas markets are also Korean companies and Korean immigrants. The Korean legal expenses insurance market is yet in its embryonic stage, while the German legal expenses insurance company is pushing ahead with a strategy focused on localization and niche market on the legal expenses insurance product. In conclusion, like a case of the German legal expenses insurance company, the Korean insurer needs a customer oriented localized strategy as well as a niche market oriented strategy on the overseas insurance market.


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