What AZ Financial Services does

AZ Financial Services (에즈금융서비스) is a South Korean independent insurance General Agency (GA) founded in 2012 and headquartered in Seoul. The company provides insurance diagnosis and comparison design, customized insurance portfolio recommendations, and financial planning consulting to individual consumers across South Korea. It operates through a multi-channel distribution model comprising 33 face-to-face consulting channels, 5 TM (telemarketing) centers integrated with Speech-to-Text (STT) voice recognition technology, and 41 branch partner channels, supported by over 2,000 trained sales agents/financial consultants.

The company's technology stack centers on three capabilities: an insurance diagnosis and comparison service that analyzes customer cash flow and disease trends to recommend balanced coverage; BOMAPP Planner — a proprietary digital insurance planning platform launched in 2023 with a KRW 5 billion investment that delivers customized portfolio recommendations based on customer lifestyle data and big data analysis; and STT-powered call analytics for the telemarketing operation. The branch partner system, launched in 2022, offers partner branches up to a 98% commission payout rate.

AZ's business model is commission-based: the company is registered with both the Life Insurance Association and Non-Life Insurance Association of Korea, and earns transaction commissions on life and non-life insurance products sold on behalf of approximately ten partner insurers including Allianz, Hanwha, Hyundai Marine, Heungkuk Life, Meritz, Lina, MetLife, Hana, Dongbu, and MG. Revenue grew consistently from 2022 through 2024, though specific figures are not publicly disclosed. The company has scaled from 70 employees in 2012 to 2,273 by 2022, with headquarters in Seoul's Gangseo-gu and an additional office in Daejeon.

Name

AZ Financial Services

Legal name

에즈금융서비스

Website

https://azfinancial.co.kr

Company type

Private

Founded year

2012

Operating status

Operating

Short description

AZ Financial Services is a South Korean independent insurance General Agency (GA) offering insurance diagnosis, comparison design, and financial planning to individual consumers across South Korea through 79 multi-channel distribution points and over 2,000 sales agents.

Ownership category

akta.pro rank

Product category

Insurance Agency Services

NAICS

Insurance Agencies and Brokerages (524210), Agencies, Brokerages, and Other Insurance Related Activities (5242), Portfolio Management and Investment Advice (523940)

SIC

Insurance Agents, Brokers & Service (6411), Investment Advice (6282)

akta.pro primary industry

Insurance Program Administration & MGA/MGU Services (FSAEADAK)

akta.pro secondary industries

Comprehensive Financial Planning (FSAEAAAA), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

Keywords

• Insurance agency services
• Insurance consulting
• Financial planning consulting
• Insurance portfolio design
• General agency distribution

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Commission Revenue: As a registered General Agency (GA), AZ Financial Services earns commissions from insurance companies for selling life and non-life insurance products. The company operates on commission income derived from the volume and type of insurance policies placed with partner insurers.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

AZ Financial Services operates as a registered General Agency (GA) — an independent insurance agency — providing insurance diagnosis, comparison design across multiple insurers, and customized portfolio recommendations to individual customers. The company also offers financial planning consulting that helps clients understand cash flow and achieve economic independence, supported by a proprietary digital insurance planning platform (BOMAPP Planner) and a nationwide multi-channel sales network.

Product overview

AZ Financial Services operates as a General Agency (GA) offering a suite of insurance and financial planning services centered around three core pillars: (1) 보맵플래너 (Bombapp Planner) — a proprietary digital platform providing customized insurance portfolio recommendations powered by customer lifestyle data and big data analytics; (2) Insurance diagnosis and comparison design services — analyzing cash flow, comparing coverage across multiple insurers, and recommending balanced protection assets; and (3) Financial planning consulting — guiding customers through understanding of financial concepts and economic independence. The company also operates a branch partner system (지사제) as a distribution channel, offering high commission payouts and operational support to partner branches.

Differentiator

Problem solved

Functional benefit

Brands

• 보맵플래너 (Bomapp Planner): 보험 설계 및 관리를 위한 디지털 플랫폼 서비스
• 에즈빌딩 (AZ Building)

Products and services

• Insurance Diagnosis and Comparison Design Service (보험 진단 및 비교설계 서비스) Consulting service for individual consumers that analyzes their current insurance coverage, compares options across partner insurers, and recommends optimized, balanced protection portfolios grounded in cash flow and disease trend analysis.
• Financial Planning Consulting (재무설계 컨설팅) Financial planning advisory service for individual consumers that helps them understand cash flow, financial concepts, and work toward economic independence through a guided, partnership-based consulting approach.
• BOMAPP Planner (봄앱플래너) Proprietary digital insurance planning platform that provides customized portfolio recommendations based on customer lifestyle analysis and big data, allowing customers to search for and explore insurance products across partner insurers.

Quantifiable outcome

• 41% reduction in protection insurance premiums with 680% average increase in main coverage amounts
• +2 more outcomes

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability2 records

Feature3 records

Partnerships

Twelve partnerships are on record, tiered core, major and minor.

• MetLife Life Insurance (메트라이프생명)coreStrategic or Co-development Partner · 1 January 2024Partnership established in 2024 as one of the life insurance company partnerships providing diverse insurance product options to customers.
• Hana Life (하나생명)coreStrategic or Co-development Partner · 1 January 2024Partnership established in 2024 expanding the life insurance product portfolio.
• BOMAPP (보맵)majorStrategic or Co-development Partner · 1 January 2023BOMAPP Planners official launch in 2023 with KRW 5 billion investment and strategic seminar held. BOMAPP provides technology platform for insurance planning and distribution.
• Korea Institute for SMES (중소기업경영연구소)minorStrategic or Co-development Partner · 1 January 2023Business agreement signed in 2023 for research and development collaboration.
• Heungkuk Life Insurance (흥국생명)coreStrategic or Co-development Partner · 1 January 2015Partnership established in 2015 as part of early insurer partnerships.
• Meritz Fire & Marine Insurance (메리츠화재)coreStrategic or Co-development Partner · 1 January 2015Partnership established in 2015 for non-life insurance product offerings.
• Hyundai Marine & Fire Insurance (현대해상)coreStrategic or Co-development Partner · 1 January 2014Partnership established in 2014; recognized as Hyundai Marine Long-term Sales Top GA.
• Dongbu Fire & Marine Insurance (동부화재)coreStrategic or Co-development Partner · 1 January 2014Partnership established in 2014 for non-life insurance product offerings.
• MG Indie Fire & Marine Insurance (MG손해)coreStrategic or Co-development Partner · 1 January 2014Partnership established in 2014 as part of non-life insurance partner expansion.
• Allianz Life Insurance (알리안츠생명)coreStrategic or Co-development Partner · 1 January 2013Partnership established in 2013 with subsequent recognition as ALLIANZ AWARD CHAMPION.
• Hanwha General Insurance (한화손해)coreStrategic or Co-development Partner · 1 January 2013Partnership established in 2013; recognized as Hanwha's Top Partner GA.
• Lina Life Insurance (라이나생명)coreStrategic or Co-development Partner · 1 January 2013Partnership established in 2013 expanding life insurance partner network.

Scale indicators6 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Policygenius: US insurance marketplace that lets consumers compare and buy life, disability, home, and auto policies across multiple carriers. Comparable to AZ's BOMAPP-style comparison-and-portfolio proposition and multi-carrier agency model.
• SelectQuote: US-based direct-to-consumer insurance distribution platform that sells life, auto, home, and health insurance from multiple carriers. Directly comparable to AZ in that it is a multi-carrier agency/distributor rather than a single-carrier insurer, monetizing through commissions.
• EverQuote: US online insurance lead-generation and comparison marketplace operating across auto, home, and life insurance. Comparable to AZ in operating an online customer-acquisition layer that connects consumers to multiple insurance providers and earns commission/referral economics.
• 보험다모아 (insurdamoa): Korean online insurance comparison and brokerage platform enabling consumers to compare policies across multiple insurers. Directly comparable to AZ as a Korean multi-carrier distribution intermediary, focused more on digital rather than branch-based distribution.

Broad incumbents

• MediaAlpha: US public company operating customer-acquisition technology for insurance carriers. Broader and more tech-focused than AZ but comparable in that it monetizes insurance distribution economics through carrier relationships at scale.
• Aon: Global insurance and reinsurance brokerage placing coverage with multiple carriers for corporate and individual clients. Comparable to AZ in its multi-carrier intermediary role and commission-based model, though at vastly larger scale.
• Marsh & McLennan: Global insurance brokerage and risk advisory firm that intermediates insurance placement across carriers for clients. Comparable to AZ as a multi-carrier intermediary earning commission/fee economics, though operating at far greater scale and breadth.

Emerging players

• 핀다 (Finda): Korean financial product comparison platform covering insurance, loans, and credit cards. Adjacent peer to AZ — comparable in enabling Korean consumers to compare financial products across providers, though broader than insurance alone.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@-azfinancialservice1574
• Facebookfacebook.com/AZkingmh

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AZ Financial Services