On the 24th, the Financial Supervisory Service announced that it will hold a public idea contest for eradicating insurance fraud in collaboration with the Life Insurance Association and the General Insurance Association.
This contest was organized to build a consensus on the fact that insurance fraud is a financial crime that infringes on people's livelihoods by increasing their economic burden. It encourages public participation to raise awareness and vigilance about the necessity of eradicating insurance fraud.
The contest themes are the harms of insurance fraud and the necessity of its eradication. It is divided into two categories: video (Shorts) and poster. From today until October 31, anyone who sympathizes with the need to eradicate insurance fraud can participate via email.
A judging panel composed of external experts will select a total of 10 winners across the two contest categories. An awards ceremony is scheduled to be held in December. The grand prize (2 winners) will receive the Financial Supervisory Service Commissioner’s Award (prize money of 5 million KRW), and the Excellence Award (4 winners) and Encouragement Award (4 winners) will receive the Association President’s Award (prize money of 2 million KRW for Excellence Award, 1 million KRW for Encouragement Award).
The winning works will be used as joint promotional materials for insurance fraud prevention by related organizations in 2025, including YouTube and Instagram (videos), as well as outdoor exhibitions and advertisements (posters).
A Financial Supervisory Service official stated, "We plan to actively promote empathetic publicity that allows the public to participate in various ways in the campaign to eradicate insurance fraud."
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