빅테크 플랫폼의 보험산업 진입과 법적 과제

Abstract

For the big tech platform to enter the insurance industry, the financial authorities must faithfully fulfill their role as judges to catch the three rabbits: ´fair competition´, ´innovation´, and ´increase the convenience of financial consumers´. As for regulations on big tech platforms, it is appropriate to design systematic and specialized custom regulations that fit the characteristics of non-face-to-face channels as a platform, rather than applying uniform financial regulations centered on offline. First of all, it is necessary to urgently reorganize the license for insurance sales and brokerage of the platform. It is necessary to improve the GA entry requirements so that platform operators can provide services directly with legal recruitment qualifications. Next, the liability and behavioral regulations for insurance sales on the platform should be overhauled. In order to prevent abuse of superior position such as monopoly and platform subordination of the insurance market, misleading consumers and transfer of damages, etc. Various rules of conduct should be newly established. To this end, it is desirable to prepare a new specialized regulatory system or law (Big Tech Supervision Act) that reflects the specificity of the big tech platform from the perspective of the entire digital finance beyond the insurance industry. In order to legally provide insurance products and services through an online platform, a fundamental regulatory overhaul can be a desirable solution, rather than recommending exceptional cases through a regulatory sandbox. Lastly, it is urgent to strengthen the data utilization base of insurance companies and big tech. As big tech platforms advance into the insurance industry and insurance companies introduce Insure Tech, the need for appropriate regulation on data use among stakeholders such as insurance companies, big tech, and affiliates is increasing. Strict regulations are applied to the indiscriminate monopoly and misuse of insurance data, but a rational reform plan for financial security regulations such as network separation and financial cloud use is urgently needed. Resolving related constraints in the implementation of MyData business must also be urgently addressed. The problem of large differences in the scope or content of data provision among participating companies is expected to act as a stumbling block for the MyData business. For the smooth progress of the MyData business, it is necessary to relax regulations so that customized comparison and recommendation services are possible without registration under the Financial Consumer Protection Act.