Jung Ji-won, Chairman of the Korea Insurance Association, "Will Propose Management of Non-Covered Items Such as Cataract and Cosmetic Injections"

Chairman Jeong Ji-won Holds Non-Face-to-Face Press Conference
"Securing Fandom by Strengthening Three Major Safety Nets: Future, Consumers, and Society"

[Asia Economy Reporter Oh Hyung-gil] Jung Ji-won, Chairman of the General Insurance Association, has decided to request the government to strengthen management of non-reimbursable items in indemnity insurance, such as cataract multifocal lens implantation and nutritional and beauty injections, which have raised concerns about excessive treatment.

He will also propose improvements to the automobile insurance compensation standards that cause excessive treatment of minor patients by allowing treatment without a diagnosis certificate and without limits on period or amount.

On the 8th, Chairman Jung held a non-face-to-face press conference and said, "The general insurance industry is facing rapid paradigm changes such as the advent of the New Normal era characterized by low interest rates, low growth, and low birth rates, the acceleration of the 4th Industrial Revolution, and increasing social demands for consumer protection. This year, we will provide insurance value as a private safety net tailored to future environmental changes and promote trust recovery through walking together with consumers."

Chairman Jung emphasized that the key tasks to solve structural problems surrounding the insurance environment are to support a safe future society, protect consumer rights, and promote the normalization of national insurance.

To this end, he plans to present a sustainable growth model for general insurance in the low-carbon era such as climate change, and strengthen the role of insurance in supporting rapid recovery from damages like the COVID-19 pandemic. He will review the introduction of policy insurance for damage compensation for small business owners and SMEs, such as rent, and also promote the introduction of insurance to remedy damages caused by travel and event cancellations.

In addition, in preparation for the spread of remote work, he will establish safeguards that guarantee compensation for damages caused by corporate technical information leaks, and expand mandatory subscription to information leakage liability insurance to strengthen protection of data subjects in case of personal information leaks.

He plans to improve systems and services addressing consumer inconveniences occurring throughout the insurance service process. He will directly review and strengthen management and control of advertisements by corporate agencies (GA) and other agencies, and include new types of advertisements such as insurance remodeling or financial consultation ads under review, establishing regulatory measures including review standards.

He will also support establishing legal grounds for the introduction of computerized claims for indemnity medical insurance, and support the advancement of healthcare services for policyholders such as "health status analysis" using data and artificial intelligence (AI), as well as the foundation for providing various innovative services.

This content was produced with the assistance of AI translation services.