Hanwha wins rights of use for female insurance product

[Courtesy of Hanwha General Insurance]

Seoul-based non-life insurer Hanwha General Insurance Co. has been granted exclusive rights of use to provide its flagship insurance plan for female customers, “Hanwha Signature Women’s Health Insurance 2.0.” The exclusive right of use allows insurers to keep their innovative new products from being copied by their competitors for a given period.

According to a statement by Hanwha General Insurance on Wednesday, the General Insurance Association of Korea, a non-profit trade association representing South Korea’s non-life insurance industry, offered the non-life insurer the exclusive right of use to sell the product for the next three months.

The exclusive rights involve the diagnosis benefits for breast cancer and fertility preservation services as part of the coverage.

Developed in partnership with Cha Medical Center, which is known for its specialized services in women’s health, Hanwha Signature Women’s Health Insurance 2.0 provides breast cancer patients with a maximum coverage of four times.