[Asia Exclusive] Director Ahn Cheol-kyung "We Will Build a Healthy Insurance Ecosystem"

Insurance Expert with 30 Years of Field Experience

Ahn Cheol-kyung, President of the Korea Insurance Research Institute, is being interviewed on the 3rd at the Korea Insurance Research Institute in Yeouido, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Oh Hyung-gil] "First and foremost, we will focus our research capabilities on overcoming the difficult situation currently faced by the insurance market through smooth communication between the insurance industry and the government."

In April 2019, Ahn Cheol-gyeong, the first internal appointee of the Korea Insurance Research Institute (KIRI), emphasized communication between the insurance industry and the government in his inaugural speech. Amid the focus on 'consumer protection,' he expressed his ambition to concentrate research capabilities to serve as a bridge between the market and the government and to overcome the crisis facing the insurance industry.

As an expert who has researched insurance market issues for the past 30 years, he was determined to engage in research that goes beyond desk work?research that involves active fieldwork and hands-on effort.

This commitment quickly translated into action. Immediately after his appointment, Director Ahn prioritized strengthening industry-academia communication and revitalizing insurance research. In October last year, he established the Industry-Academia Insurance Research Center. Regular joint seminars between industry and academia are held to discuss current issues in the insurance industry. So far, seven seminars have been conducted, opening a new chapter in insurance research.

The first director from within the institute
Facilitating smooth communication among government, National Assembly, and industry
Focusing on enhancing the institute's specialized research capabilities

He newly organized the Insurance Development Advisory Committee, composed mainly of non-insurance experts, and the Insurance Research Advisory Committee, composed mainly of insurance experts. This reflected Director Ahn’s intention to gather candid opinions about insurance from both inside and outside the insurance industry. The institute also established the Future Insurance Center, Aging Center, Overseas Insurance Center, Financial Law Center, and Customer-Product-Channel (CPC) Center.

The main research tasks were set to include a healthy insurance ecosystem and smooth landing of financial soundness systems, sustainable growth of insurance companies, insurance as a social safety net, insurance legislation, and consumer protection.

As the 5th director of the Korea Insurance Research Institute, Ahn was born in 1963. He graduated from Yonsei University with a degree in Sociology and served as head of the Industry Research Team and Trend Analysis Team at the Insurance Research Institute, the predecessor of KIRI. He also held positions such as Director of Financial Policy, Director of Research Coordination, and Deputy Director.

He has actively engaged in external activities as well. He served as a member of the Financial Services Commission’s Administrative Guidance Review Committee and as a member of the Financial Public Enterprise Budget Review and Management Evaluation Committee. He also worked as an advisor to the Insurance Subcommittee of the Financial Supervisory Service’s Financial Supervisory Advisory Committee and as a member of the Insurance Supervision Innovation Task Force (TF). Currently, he serves as a member of the Postal Service Headquarters Insurance Reserve Fund Management Subcommittee, a director of the Korean Insurance Academic Society, and an executive director of the Korean Risk Management Society.

Director Ahn stated, "The goal of the institute is to present the path forward for insurance," adding, "I will strive to fulfill the role of objectively discussing insurance matters."

Key Biography of Ahn Cheol-gyeong, Director of Korea Insurance Research Institute

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Born 1963

Bachelor’s in Sociology, Yonsei University

Master’s in Business Administration, Yonsei University

Ph.D. in Business Administration (Insurance and Transportation), Soongsil University

Major Career

(Former) Deputy Director, Director of Research Coordination, Director of Financial Policy, Korea Insurance Research Institute

(Former) Member, Financial Public Enterprise Budget Review and Management Evaluation Committee, Financial Services Commission

(Former) Member, Insurance Subcommittee, Financial Industry Development Council, Financial Services Commission

(Former) Advisor, Insurance Subcommittee, Financial Supervisory Advisory Committee, Financial Supervisory Service

(Former) Member, Insurance Supervision Innovation Task Force, Financial Supervisory Service

(Current) Member, Administrative Guidance Review Committee, Financial Services Commission

(Current) Member, Insurance Reserve Fund Management Subcommittee, Postal Service Headquarters

(Current) Director, Korean Insurance Academic Society

(Current) Executive Director, Korean Risk Management Society

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