Yu Jae-hoon (photo), the 14th head of the Korea Insurance Development Institute, took office on the 8th.
Yu plans to begin work immediately without a separate inauguration ceremony. He will focus on listening to voices in the field and identifying this year's business promotion tasks and pending issues.
Yu said, "Amid rapidly changing conditions such as climate change, natural disasters, international conflicts and supply chain instability, and the spread of artificial intelligence (AI) technology, the insurance industry faces a new turning point," and added, "The Korea Insurance Development Institute must become a 'pacesetter' that proactively explores the future direction of the insurance industry and presents the necessary data, technology, and services in advance."
Yu also presented four management directions: pioneering markets using advanced technology and strengthening AI-based risk assessment capabilities; strengthening the role of an arbitrator based on expertise and data; advancing insurance services such as Silson 24; and supporting the domestic insurance industry's entry into overseas markets.
Yu entered public service after graduating from the Department of Economics at Sungkyunkwan University and passing the 39th civil service exam. He later served at the Financial Services Commission (FSC) as head of the Capital Markets Investigation Team, Director General for Planning and Coordination, and director general of the Financial Consumer Bureau.