From now on, customers will no longer need to personally obtain and submit a family relationship certificate during the processes of signing up for insurance policies, maintaining a contract, or receiving insurance money.
As the Korean insurance industry automates the family relationship certificate submission process using public MyData, consumer convenience in insurance enrollment and claims is expected to improve a great deal.
On July 21, the Korea Life Insurance Association (KLIA) and the Korea Credit Information Services announced that family relationship certificates will be fully automated to be used via public MyData.
Accordingly, it will significantly boost consumer convenience, as public MyData includes not only 35 types of documents previously used such as resident registration certificates and abstracts of resident registration, but family relationship certificates which was required for submission throughout insurance business operations including insurance policy purchases and maintenance and insurance money payment.
“This system improvement is significant in that it expands the scope of public MyData utilization to the entire area of insurance services,” said Kim Chul-ju, chairman of the KLIA.
“It will serve as an opportunity to get rid of the burden of unnecessary document submission for people while simultaneously enhancing the speed and accuracy of insurance business operations.”
There has been growing demand for stronger linkages between administrative information and financial services as actual insurance processing often requires verification of family relationships.
With the automation of family relationship certificate submission when subscribing to a product eligible for family combination discounts, it will be possible to apply for premium discounts on insurance policies via Public MyData without submitting family relationship certificates.
Premium discounts for child special riders in automobile insurance can also be easily applied for.
Furthermore, when changing policyholders, their family relationships can be verified through public MyData, allowing for immediate application for the change without visiting an administrative agency or submitting a separate certificate.
Experts expect that if all insurance companies participate in the expansion of public MyData in the future, the administrative burden of approximately 3 million annual tasks requiring family relationship certificates can vanish in the insurance industry.
Explanation of Large GA Comparison Explanation System for Similar and Identical Insurance Products
The Large GA Comparison Explanation System for Similar and Identical Insurance Products was functioning properly, such as data input and the calculation of commission rate grades and rankings, through the cooperation of insurance companies, large GAs, the KLIA and insurance sales agency associations, the KLIA explained on August 13.
The Large GA Comparison Explanation System for Similar and Identical Insurance Products is based on consistent criteria using the Classification Criteria Table for Similar/Identical Products prepared through consultations among financial authorities, the KLIA, the General Insurance Association of Korea (GIAK) and insurance sales agency associations.
In addition, classification criteria are being run to enable comparative explanations between similar products by checking screening methods and whether or not surrender value refunds are paid, according to the KLIA.
As classification criteria are applied in a detailed manner, there may be cases where the number of comparable products within the same or similar product group is less than three.
In such cases, a comparative explanation is required for all comparable products.
Large GA Comparison Explanation System for Similar and Identical Insurance Products
The KLIA selected 11,460 life insurance agents as certified “excellent” insurance agents for 2026.
The certification period is one year, starting from June 1, 2026.
The Certified Excellent Insurance Agent System is a representative certification system of the Korean insurance industry.
The system has been in place since 2008 to protect insurance consumers and establish a sound insurance sales culture.
This year marks the 19th year of the system operation.
To be selected as a certified excellent insurance agent, an insurance agent must meet the following conditions — at least 3 years of service at the same insurance company, zero mis-selling cases, a 13th-month retention rate of 90% or higher and a 25th-month retention rate of 80% or higher.
In particular, he or she must meet strict standards regarding ethics and compliance, such as having no history of sanctions for violations of the Insurance Business Act over the past 3 years.
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