Heo Chang-eon, President of the Insurance Development Institute, "Second Simplification of Real Loss Claims to be Implemented Before October 25"

KIDI Holds New Year's Press Conference on the 5th
Heo Chang-eon: "Early Implementation of Simplified Indemnity Claims for Clinics and Pharmacies"
Around 4,000 Medical Institutions to Complete System Setup by End of March

The Korea Insurance Development Institute (KIDI) will advance the implementation of the plan to expand the simplified claims process for indemnity insurance to clinics and pharmacies, originally scheduled for October 25 this year. To ensure that the public does not face difficulties in claiming indemnity insurance benefits, the service will be implemented immediately once an electronic medical record (EMR) system is in place.

On the 5th, at a New Year's press conference held in Yeouido, Seoul, Heo Chang-eon, President of KIDI, stated, "We have recently completed a legal review on the immediate implementation of the simplified indemnity claims process for clinics with fewer than 30 beds and pharmacies, without waiting until October 25. We have received confirmation that there are no issues with early implementation and are currently in contact with many clinics."

Heo Chang-eon, President of the Korea Insurance Development Institute, is speaking at the New Year's press conference held on the 5th in Yeouido, Seoul. Photo by Korea Insurance Development Institute

The simplified indemnity insurance claims process is a service that allows claims to be made through the 'Silson24' application operated by KIDI, without the need for complicated paperwork or visiting claim counters. It was implemented from October 25 last year for hospitals with 30 or more beds and was scheduled to be expanded to local clinics and pharmacies from October 25 this year. However, with the advancement of this schedule, it is expected that local clinics and pharmacies will soon be able to use the simplified claims service as long as they have an EMR system in place. President Heo explained, "As of the previous day, 487 hospitals are implementing the simplified claims process, and by the end of March, about 3,500 public health centers nationwide will also implement it. This means that nearly half of the 7,725 medical institutions planned to use the service at the first phase launch on October 25 last year will be participating."

President Heo also announced the key projects that KIDI will pursue this year. The main tasks include: ▲ discovering future growth engines for the insurance industry based on platform services ▲ supporting new product development through the fusion of big data analysis and AI technology ▲ creating new market demand through new product and service development ▲ building infrastructure and providing customized services for the stable landing of new systems. Each of these four core themes includes five detailed tasks, totaling 20 selected projects.

President Heo declared that this year KIDI will evolve into an insurance industry platform for the hyper-connected era. By actively utilizing artificial intelligence (AI) and big data, KIDI aims to provide customized insurance services that meet the needs of the public.

KIDI plans to enhance the 'Driving Habit Data Platform,' developed jointly with the insurance industry, to expand services that offer premium discounts to safe drivers. This platform evaluates accident risk for each driver by integrating driving habits and mobility data in a manner similar to T-map and supports the development of customized insurance products. President Heo said, "By combining insurance industry data and technological capabilities, more systematic data utilization than existing platforms has become possible. We expect this to significantly contribute to reducing traffic accidents and protecting public safety."

On KIDI’s external communication channel, the 'Insurance Information Big Data Platform' (BIGIN), AI and other technologies will be actively used to provide user-customized content. Additionally, through a disaster safety insurance platform that allows anyone to easily check mandatory insurance, KIDI plans to support the public in receiving compensation without omission.

KIDI will also actively respond to social issues such as low birth rates and climate change. President Heo stated, "To address low birth rates, we will expand product development that covers risks related to pregnancy and childbirth, and to respond to climate change, we will support the development of products that cover newly emerging risks. To protect the ordinary lives of the public and make them safer, we will investigate overseas cases of liability insurance and support the activation of liability insurance for new risks."

KIDI will build an insurance data mart that collects insurance information of insured individuals and analyzes it by life cycle stages. An insurance data mart is a data repository that gathers only the necessary data on specific topics from various datasets, enabling quick and efficient access and analysis according to user requirements. President Heo said, "Based on the insurance data mart, we will combine insurance information with external institution data to analyze characteristics of insurance consumers and recommend customized products. We plan to build data centered on people rather than insurance products and link it with other data such as telecommunications and credit card data."

KIDI also plans to support the overseas expansion of 'K-Insurance.' For existing partner countries such as Indonesia, the Philippines, Malaysia, Thailand, and Vietnam, KIDI will assist in building the necessary infrastructure. This year, new memorandums of understanding will be signed with Cambodia and Laos to expand the market. President Heo said, "Based on Korea’s advanced domestic insurance systems and data, we will elevate the status of Korean insurance in the global market. We will actively support the overseas expansion of domestic insurers by creating insurance environments familiar to Korea in Southeast Asian insurance markets."