The Korea Insurance Development Institute is a not-for-profit membership corporation established to protect the interests of policyholders and contribute to the development of the insurance industry.
Since its foundation in 1983 as a non-life insurance ratemaking organization, KIDI has continuously expanded its business scope. By 1989, its operations extended to both non-life and life insurance. In 1992, it established the Korea Automobile Insurance Repair Research & Training Center (KART) as a subsidiary, followed by the Korea Insurance Research Institute (KIRI) in 1995, which later became an independent entity in 2010.
As of January 2025, KIDI has 42 member companies, consisting of 22 life and 20 non-life insurers.
Organizationally, KIDI is structured into four divisions, with KART as its subsidiary specializing in automobile research. About 300 experts work at KIDI, dedicating themselves to the continued development of Korea’s insurance industry.
KIDI’s head office is located in the heart of the Yeouido Financial District, Seoul, while KART is based in Icheon, Gyeonggi Province, approximately a two-hour drive from the head office.
General Meeting The General Meeting is KIDI’s highest decision-making body, composed of chief executives from each member company. It oversees key matters, including amendments to KIDI’s Articles of Association, the election of board members, budget approval, and the review and decision-making on various issues proposed by the Chairman.
Board of Directors The Board of Directors consists of two executive directors and eight non-executive directors, including four public interest representatives and four company representatives, along with two external auditors. The board is responsible for decision-making on premium rate verification and calculation, mortality tables, major business plans, and new product development.