Korea Insurance Development Institute

What Korea Insurance Development Institute does

Korea Insurance Development Institute (보험개발원, KIDI) is a not-for-profit membership corporation founded in 1983 and headquartered in Seoul, South Korea. It operates as a quasi-governmental statutory body under the Insurance Business Act and the Automobile Liability Insurance Act, holding exclusive authority to calculate official pure insurance rates for the Korean insurance industry and to provide insurance information to all domestic insurers and regulators. KIDI serves as a Total Consulting data institution for the insurance sector, operating a portfolio of integrated platforms that include the Silson24 electronic claims processing system, the IICS insurance information network, the KAIRS/CLIP enterprise risk assessment system, the INCOS statistical service, the BIGIN big-data analytics platform, and consumer-facing services such as mycar.kidi.or.kr, Carhistory, and dormant insurance fund lookups. The organization also runs an automotive technology research institute maintaining vehicle model grade classifications used for auto insurance pricing.

KIDI's business model is institutional and subscription-based. Revenue is generated through member insurance company contributions and government-mandated service fees covering statutory rate calculation, data exchange, and claims automation services. All major Korean life and non-life insurers (Samsung Life, Kyobo Life, Hanwha Life, Samsung Fire, Hyundai Marine, KB Insurance, Meritz, and others) plus more than 10 mutual aid cooperatives are member organizations, giving KIDI effectively mandatory participation across the entire industry. Distribution is dual-channel: enterprise B2B access via registered user portals for insurance professionals, and free consumer-facing web and mobile platforms for the general public. B2B services operate on a subscription/registered-user model with pricing not publicly disclosed, while consumer tools are provided free of charge.

The technology stack centers on insurance data platforms, claims automation systems, risk assessment information systems, statistical query services, and vehicle evaluation databases. KIDI maintains vehicle model grade classifications and a used-car accident history database (Carhistory) used industry-wide. International activity is emerging, with K-insurance training programs delivered to foreign regulators such as the Mongolian Financial Supervisory Commission in January 2026 and a June 2026 MOU with Korea Toyota Motors signaling automotive industry partnership expansion. KIDI holds web accessibility certification (WA Mark) for 2024 and 2025.

Name

Korea Insurance Development Institute

Legal name

보험개발원

Website

https://kidi.or.kr

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Korea Insurance Development Institute (보험개발원) is a Seoul-based, not-for-profit statutory body that calculates official Korean insurance rates and operates industry-wide data, claims automation, and risk assessment platforms for all Korean insurers, cooperatives, and consumers.

Ownership category

akta.pro rank

Product category

Insurance Data and Statistical Services

NAICS

Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Eligibility, Coverage Verification & Policy Administration Support (BPAAAFAC)

akta.pro secondary industries

Personal Auto Insurance (FSAJAMAA), Technology / IT Services BOP (FSAJAFAK)

Keywords

• Insurance data services
• Actuarial rate calculation
• Claims automation systems
• Insurance statistics platform
• Vehicle insurance databases

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Others

Revenue model

1. Statutory Insurance Data & Rate Calculation Services: KIDI performs statutory functions under the Insurance Business Act and Automobile Liability Insurance Act, including calculating and verifying pure insurance rates for the industry. Revenue is derived from regulatory mandates and service fees paid by member insurance companies. As a quasi-governmental institution, its operating model is institutional and subscription-based, funded through member insurance company contributions and government mandates.
2. Portal & Digital Service Access: Various web portals and online services (vehicle model grades, insurance statistics, risk assessment, claims automation) are provided to insurance companies and consumers via registered user systems. Revenue derives from service fees, subscription access, and transaction fees.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

KIDI is the statutory Korean insurance industry data and consulting body that calculates official pure insurance rates for life and non-life insurers, operates nationwide digital claims automation (Silhon24) between medical institutions and insurers, and provides insurance information networks (IICS), risk assessment systems (KAIRS/CLIP), big data analytics (BIGIN), insurance statistics (INCOS), and consumer-facing insurance comparison and dormant-fund recovery portals. It also maintains vehicle model grading, used-car accident history, and insurance professional certification examination services mandated by the Insurance Business Act and Automobile Liability Insurance Act.

Product overview

Korea Insurance Development Institute (보험개발원, KIDI) operates as a data-focused Total Consulting organization providing comprehensive insurance industry services. The organization offers a platform ecosystem centered on real expense insurance claim computerization (실손24), big data analytics (BIGIN), and vehicle-related services including car insurance comparison, vehicle model grading, and used car accident history lookup (카히스토리). Additional modules include insurance professional certification examinations, premium discount/increase lookup, insurance statistics services (INCOS), risk assessment systems (CLIP), and customer information networks (IICS). The portfolio integrates data management, statistical analysis, professional certification, and consumer-facing insurance comparison tools serving both insurance industry professionals and general consumers.

Differentiator

Problem solved

Functional benefit

Products and services

• Silhon24 (실손24) Real Expense Insurance Claims Automation System

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

20 partnerships are on record, tiered minor and core.

• Korea Toyota Motors (한국토요타자동차)minorStrategic or Co-development Partner · 2 June 2026KIDI signed an MOU with Korea Toyota Motors in June 2026. The partnership likely involves vehicle safety data, automotive insurance product development, or technical research collaboration leveraging KIDI's automobile technology research institute capabilities.
• Meritz Fire & Marine Insurance (메리츠화재해상보험)coreOthersListed as a member company of KIDI. Meritz Fire is one of Korea's largest non-life insurers and participates in KIDI's rate calculation, data exchange, and platform services.
• Samsung Fire & Marine Insurance (삼성화재해상보험)coreOthersListed as a member insurance company of KIDI. As Korea's largest non-life insurer, Samsung Fire participates in KIDI's statutory services and platform ecosystem.
• Hyundai Marine & Fire Insurance (현대해상화재보험)coreOthersListed as a member insurance company of KIDI.
• KB Insurance (KB손해보험)coreOthersListed as a member insurance company of KIDI.
• Samsung Life Insurance (삼성생명보험)coreOthersListed as a member insurance company of KIDI. As Korea's largest life insurer, Samsung Life participates in KIDI's life insurance data and rate calculation services.
• Kyobo Life Insurance (교보생명보험)coreOthersListed as a member insurance company of KIDI.
• Hanwha Life Insurance (한화생명보험)coreOthersListed as a member insurance company of KIDI.
• 20+ Additional Non-Life Insurance CompaniescoreOthersListed member companies include: 한화손해보험, 롯데손해보험, MG손해보험, 흥국화재, DB손해보험, 서울보증보험, AXA손해보험, Mitsui Sumitomo Marine, AIG 손해보험, Chubb, 하나손해보험, 신한EZ손해보험, NH농협손해보험, Allianz Korea, 캐롯손해보험, 카카오페이손해보험. All participate in KIDI's rate calculation and data platform services.
• 15+ Additional Life Insurance CompaniescoreOthersListed member life insurance companies include: ABL생명보험, 흥국생명보험, 푸본현대생명, 신한라이프, DB생명보험, 동양생명보험, 메트라이프생명보험, 처브라이프생명보험, DGB생명, KDB생명보험, 미래에셋생명보험, KB라이프생명보험, 라이나생명보험, AIA생명보험, 하나생명보험, BNP파리바카디프생명보험, IBK연금보험, 농협생명보험, 교보라이프플래닛생명. All participate in KIDI's life insurance data services.
• Mutual Aid Cooperatives (공제조합)coreOthersListed mutual aid/cooperative members include: 수협공제, 전국버스공제조합, 신협공제, 전국화물자동차공제, 새마을금고공제, 건설공제조합, 한국교직원공제회, 한국해운조합(공제), 자본재공제조합, 한국조선공업협동조합, 엔지니어링공제조합, 전국택시공제조합, 전국개인택시공제조합.
• Financial Services Commission (금융위원회)coreOthersListed as a related government institution. KIDI operates under regulatory oversight of the FSC and performs statutory functions mandated by insurance-related laws.
• Financial Supervisory Service (금융감독원)coreOthersListed as a related institution. The FSS oversees financial institutions including insurance companies that are KIDI's member clients.
• Ministry of Land, Infrastructure and Transport (국토교통부)minorOthersListed as a related institution. MOTLI oversees vehicle and automobile insurance policy, closely tied to KIDI's automobile insurance and vehicle technology research operations.
• Life Insurance Association of Korea (생명보험협회)minorOthersListed as a related industry association.
• Non-Life Insurance Association of Korea (손해보험협회)minorOthersListed as a related industry association.
• Korea Credit Information Repository (한국신용정보원)minorOthersListed as a related institution. May share or cross-reference insurance and credit data.
• Insurance Development Institute of Mongolia (몽골 금융위)minorStrategic or Co-development PartnerThe Mongolian Financial Regulator visited KIDI in January 2026 for K-insurance training, indicating a knowledge-sharing and training partnership for international insurance capacity building.
• Korea Insurance Research Institute (보험연구원)minorOthersListed as a related industry research institution.
• Korea Insurance Academy (보험연수원)minorOthersListed as a related institution. Insurance training provider.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Swiss Re Institute: Global reinsurer's research arm producing insurance industry sigma reports, data, and economic insights. Comparable to KIDI's KIDI Brief, CEO Reports, and ISSUE Reports in providing authoritative insurance industry data and analysis, though on a global rather than national scale.

Direct peers

• Insurance Information Bureau of India: Indian industry data repository for non-life insurance, pooling industry statistics, claims data, and analytics. Highly comparable to KIDI's INCOS statistical service and BIGIN big data platform in providing pooled industry analytics to insurers and regulators.
• Insurance Information Institute (Triple-I): US industry association that produces insurance industry data, statistics, research, and consumer education. Comparable to KIDI in providing industry-wide statistical services, data analytics, and consumer-facing insurance information tools, though without KIDI's rate-setting mandate.
• Verisk Analytics: US-listed data analytics and risk assessment firm serving the insurance industry. Comparable to KIDI's KAIRS/CLIP risk assessment and BIGIN data analytics offerings, providing underwriting risk data, statistical analysis, and predictive modeling for insurers globally.
• LexisNexis Risk Solutions: Provides data, analytics, and risk management services specifically for insurance underwriting and claims. Comparable to KIDI's role in aggregating industry-wide data and providing risk assessment and statistical services to member insurance companies.

Others

• Korea Credit Information Repository (KCIR): Korean financial data aggregator providing credit and insurance data sharing infrastructure. Comparable to KIDI's Insurance Information Network (IICS) and Carhistory services as a domestic data exchange platform serving Korean financial institutions.
• Korea Insurance Research Institute (KIRI): Korean insurance industry research organization that complements KIDI's work with policy research and academic-style analysis. Directly comparable as a domestic sister institution serving the Korean insurance industry's research and policy needs.

Regional players

• General Insurance Association of Japan: Japan's non-life insurance industry association that compiles industry statistics, runs auto insurance rating organizations, and provides consumer-facing information. Closest Asian regional counterpart to KIDI's auto insurance rating and data services, with similar market structure.

Broad incumbents

• Insurance Regulatory and Development Authority of India (IRDAI): India's statutory insurance regulator. Comparable to KIDI's mandated role in rate-setting, data collection, and market oversight, though with a direct regulatory function rather than KIDI's industry-support body model.
• National Association of Insurance Commissioners (NAIC): US-based statutory body coordinating insurance regulation across states. Highly comparable to KIDI as a quasi-governmental organization providing centralized insurance data, rate filing support, and regulatory infrastructure for the entire US insurance industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Korea Insurance Development Institute