"Sharing Know-how on Detecting Insurance Fraud"...Financial Supervisory Service Hosts Outstanding Case Contest

Call for Outstanding Insurance Fraud Detection Cases Through Investigations

Two Categories, Ten Winners to Be Selected

The Financial Supervisory Service announced on August 11 that it will host the “2026 Contest for Outstanding Insurance Fraud Detection and Prevention Cases,” aimed at enhancing the industry's ability to respond to insurance fraud. The competition is open to employees of insurance companies, loss adjustment firms, and the Korea Post.

The contest includes two categories: insurance fraud detection and preemptive activities to prevent insurance fraud. Eligible participants must submit detailed descriptions of their work in the respective category via email by September 30.

The Financial Supervisory Service will conduct a two-stage screening process to select a total of 10 winners, followed by an awards ceremony in December. The grand prize winner will receive an award from the Governor of the Financial Supervisory Service, while excellence and encouragement award winners will receive awards from the heads of their respective insurance associations, as well as a monetary prize.

The Financial Supervisory Service expects that this contest will strengthen the insurance industry's ability to address both new and emerging forms of insurance fraud. The agency also anticipates that publicly releasing outstanding cases will further deter potential attempts at insurance fraud.

In addition, the Financial Supervisory Service encouraged active reporting during the special insurance fraud reporting and reward period, which runs until October 31.

This content was produced with the assistance of AI translation services.