보험비교플랫폼 규율 방향

Abstract

Even after the insurance comparison and recommendation services of fintech companies, including big tech companies, were allowed as a regulatory special case, it took more time for the service to start. Now, big tech companies are allowed to enter the insurance market. This is desirable in that it has a net function of bringing competition to the insurance market, rationally adjusting the price of insurance products according to the market mechanism and increasing the convenience of insurance for consumers. However, it is now time to pay attention to prevent consumer damage by framing business conduct regulations well.
 Referring to overseas cases that have experienced such services and faced regulatory concerns before us, we can come to the conclusion that we do not need to be bound by the principle of same function, same regulation. Even among traditional insurance brokers and platform companies, there are significant differences between small fintechs and big techs in terms of market power and group structure. Even if they provide the same service, there is a need to establish an entity-based dual regulatory system. The Korean insurance market is expected to have a greater impact than in the West because it has not experienced traditional insurance brokerage services, and there will be a need for a stronger regulatory framework. As big tech is allowed to enter the new financial market of insurance, it should not accept the strengthened behavioral regulation as an unfair regulation. On the contrary, there is an advantage to expanding insurance services within the framework of legislative regulation if it proves its role in promoting the convenience and welfare of insurance consumers under enhanced behavioral regulation.
 For the time being, the system will be guided by the financial authorities, but we should prepare for legislation. While the focus will be on business conduct regulation, the framework for prudential regulation should also be discussed in stages.