More than half of the direct appointments of loss adjusters last year were conducted through Olbadum. Olbadum is a platform through which individuals can consult with and request the services of loss adjusters, operated by Assurance.
According to Assurance on the 17th, of the 1,286 direct appointment rights for loss adjusters last year, 739 cases (57.5%) were conducted at Olbadum. The direct appointment rights for a loss adjuster refer to the rights that insurance subscribers have to appoint a loss adjuster. Since the appointment fee is borne by the insurance company, subscribers can appoint them essentially for free.
Loss adjustment refers to the work of investigating whether a customer's insurance claim is reasonable. If an insurance company determines that a customer's claim is excessive, they notify the customer that a 'field review' will be conducted through a loss adjuster. However, most loss adjusters involved in the investigation are often connected to the insurance companies, leading to ongoing criticism that they make judgments favorable to the insurance companies. This is why the top financial-related complaints filed with the Financial Supervisory Service relate to the assessment and payment of insurance claims.
To address these issues, financial authorities are currently implementing a system where the insurance company bears the expense if a customer appoints an independent loss adjuster with no interest in the insurance company. Until now, the scope for appointing independent loss adjusters has only applied to health insurance, but it has recently been expanded to include all insurance products that require damage adjustment.
Olbadum has been providing services since 2023 by establishing a system that enables qualified loss adjusters to handle tasks effectively. As Olbadum has gained attention among subscribers, the total number of appointments for independent loss adjusters jumped from 154 cases in 2022 to 548 cases the following year and 1,286 cases last year.
Yum Seon-mu, the head of Assurance, noted, "As the system, which was previously applicable only to health insurance, has expanded to include damage insurance that calculates actual loss amounts, inquiries are increasing. There is no reason for a wise financial consumer not to choose this good system."