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Good morning! This is Joo-Hyun Kim, Chairman & CEO of the Financial News. 

It gives me immense pleasure to express my sincere gratitude to all of the 

distinguished guests to “The 11th Global Insurance Symposium” early in the 

morning, despite the suddenly chilly weather.

Especially I would like to thank Yoon, Suk Heun, Governor of the Financial 

Supervisory Service, Shin, Yong Kil, Chairman & CEO, Korea Life Insurance 

AssociationKim, Yong Duk, Chairman & CEO, General Insurance Association 

of Korea as well as Han, Ki Jeong President, Korea Insurance Research 

Institute, who co-sponsored this symposium.

 

I am very confident that for the last ten years pending issues of the insurance 

industry have been discussed and appropriate, timely alternatives have been 

suggested at this symposium. In the era of the 4th Industrial Revolution, 

Changes in Distribution Channels and Insurance Industryhas been 

chosen as the theme of this year’s symposium.

 

Coming a new era of the fourth industrial revolution, sudden changes in the 

insurance industry are on its way. The time when insurance products are sold 

through insurance planners mainly represented as ‘insurance saleswomen’ is 

on decline. These days insurance products are sold across mobile and internet 

shopping channels and home shopping channels.

Such changes in distribution channels allow consumers to increase accessibility 

to the insurance product they want and contribute to an increase in the 

conveniences of consumers. At the same time, however, as distribution channels 

for insurance products are being diversified and competition between channels 

gets intense, consumer complaints toward the insurance products due to the 

incomplete sale and etc. are on the rise.

 

At today’s symposium, a variety of lectures and panel discussions are ready to 

cover the content relevant to what the local insurance industry, on the threshold 

of the fourth industrial revolution era, needs to prepare for diversification of 

distribution channels and consumer protection. In particular, as many CEOs who 

take the lead in the insurance industry offer lectures at this year’s symposium, it is 

expected to have more practical discussions and alternatives.

 

Wishing all of you will be successful, I would like to draw my remarks to a close.

Thank you. 

  

  

Kim, Joo Hyun

President, 

The Financial News

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