The responsibilities and obligations of Insurance Research Center as noted in its charter are as follows:

- To identify the research requirements of the insurance industry;

- To undertake fundamental, applied, and developmental research plans for the growth of the insurance industry;

- To provide necessary facilities appropriate for insurance research activities;

- To promote collaboration with foreign and domestic universities and academic institutes;

- To provide consultation services to anyone interested based on the latest research findings;

- To publish academic journals, books, training booklets, and software required for professional training;

- To organize academic conferences and seminars and to present research findings to the industry audiences.