Vice Chairman speaks about need to strengthen public-private cooperation to promote pet insuranceApr 28, 2023

The FSC held a seminar on promoting pet insurance and strengthening the role of pet health care and insurance providers together with the Korea Insurance Research Institute, the Financial Supervisory Service and the General Insurance Association of Korea on April 28.  FSC Vice Chairman Kim So-young attended the seminar and spoke about the need to strengthen cooperation between the government and the pet health care industry including veterinarians and insurance providers in promoting pet insurance. In his speech, Vice Chairman Kim pointed out that there is still inadequate infrastructure development on the treatment data system available for pets and the pet registration system, and this has prevented insurance providers from being able to more actively provide pet insurance products. Therefore, Vice Chairman Kim said that the government will work to increase the rate of pet registration as well as the effectiveness of the registration system and make improvements to the pet treatment data system by strengthening cooperation between relevant ministries and organizations.