The Korea Insurance Development Institute is a not-for-profit membership corporation established to protect the interests of policyholders, and contribute towards the development of the insurance industry.
Since its foundation in 1983, where it began in the field of non-life insurance ratemaking area, KIDI has continued to expand its business field. By 1989, KIDI broadened its scope to include not only non-life insurance, but also life insurance as well. In 1992, the Korea Automobile Insurance Repair Research Training Center (KART) was established as a subsidiary, and in 1995, the Korea Insurance Research Institute (KIRI) was founded as a subsidiary. KIRI later became a separate entity in 2010.
As of February 2017, KIDI has twenty-five life insurance member companies, and seventeen non-life insurance member companies (forty-two in total).
In terms of organizational structure, KIDI consists of five divisions and a subsidiary automobile research center (KART). In total, over 200 of the finest experts are working passionately with KIDI to further develop the Korean insurance industry.
KIDI’s head office can be found in the heart of the Yeouido financial district (Seoul), while KART is located in Icheon (Gyeonggi Province) which is a two hour drive away from the head office.