Insurance could help reduce uncertainty around accident and performance risks, but KIRI says many early-stage technologies remain difficult to underwrite.
The institute said insurers need better data access, stronger overseas risk controls and reforms to subsidiary rules as domestic market pressures intensify.
Separating facility ownership from operations and linking insurance products with care services could help insurers develop Korea's mid-priced long-term care market, KIRI said.
The institute said the fallout could stretch beyond underwriting, with currency swings, weaker risk assets and inflation concerns adding pressure to insurers’ balance sheets.
