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Korea International Insurance Conference Highlights Shift Toward Resilience and AI-Driven Risk Management
The Korea International Insurance Conference (KIIC) opened in Seoul on Wednesday, drawing more than 1,300 participants from 175 companies across 27 countries. Sponsored by Samsung Fire & Marine Insurance, the two‑day event ran at the Grand InterContinental Seoul Parnas under the theme “Insuring the Future in a Changing Risk Landscape.” It marks the conference’s third year and remains the largest global gathering for the non‑life insurance industry in Korea.
KIIC moved beyond traditional underwriting and claims discussions to focus on how insurers can create sustainable business models amid more frequent natural disasters, rapid technological change, and growing economic uncertainty. A recurring message was the industry’s shift from a compensation‑based model toward one that prioritises proactive resilience and dynamic risk management.
The opening day was dominated by the general assembly of The LINK, a public‑private‑academic platform founded by Samsung Fire & Marine Insurance. The LINK aims to advance climate adaptation, disaster science innovation and integrated safety governance. The assembly was split into two sessions. The first examined how climate‑related and social risks can be measured and how Korea can close its protection gap—the difference between total economic losses and losses covered by insurance.
Professor Kim Tae‑yun of Hanyang University presented the K‑Risk Barometer, a framework that converts social and environmental hazards into standardised indicators to help insurers spot emerging national risks early. Ha Jong‑mok, director general of the prevention policy bureau at the Ministry of the Interior and Safety, outlined a disaster‑resilience certification programme for businesses. Under the proposal, companies that demonstrate stronger prevention capabilities could receive discounts on insurance premiums, creating a financial incentive for better risk management.
Professor Jeong Su‑jong of Seoul National University’s Climate Tech Center quantified the physical and economic costs of climate change in Korea. His analysis highlighted the country’s protection gap and the increasing challenge of uninsurable risks as natural catastrophes become more frequent and severe.
The second session moved from diagnosis to implementation. Speakers discussed governance structures, partnership agreements and collaboration opportunities among insurers, technology firms and public institutions. Choi Young‑hwa, head of Samsung Fire & Marine Insurance’s Global Loss Control Center, outlined The LINK’s strategic direction and key initiatives. Makoto Yamashiro of Tokio Marine Holdings shared lessons from Japan’s Bosai Consortium CORE, a disaster‑prevention initiative that combines data across industries to develop preventive risk solutions. Organisers suggested the Bosai model could serve as a blueprint for The LINK’s future development.
Thursday’s agenda focused on how emerging technologies and geopolitical tensions reshape risk and insurers’ responses. Sessions covered technological innovation, cross‑industry connectivity and the evolving role of insurers in future industrial ecosystems. Samsung Fire & Marine Insurance CEO Lee Mun‑hwa opened the day, followed by remarks from Hanwha General Insurance CEO Na Chae‑beom and Financial Services Commission Standing Commissioner Ahn Chang‑kuk.
Keynote speakers included Tracy‑Lee Kus, co‑CEO of Aon EMEA, who assessed how insurance markets are reacting to a complex global risk environment, and Kevin Russell, a senior fellow at the McKinsey Global Institute, who discussed AI‑driven industrial transformation and the five sectors he believes will benefit long‑term.
Later sessions examined specific industries. Beatrix Hartinger, chief underwriting officer for global property at Munich Re, looked at how demographic, economic and technological trends are reshaping property and casualty markets. Doh Young‑jin, adviser to Hyundai Motor Group, explored how advances in physical AI could transform mobility and the relationship between automotive and insurance industries.
A joint session with Nevenka Mattenet of Hartford Steam Boiler and Choi Yoon‑ho of Samsung Electronics examined how connected‑device data can be integrated into insurance operations. Thursday afternoon’s breakout sessions focused on autonomous mobility and AI‑driven transformation across the insurance value chain. The autonomous driving track included Seoul Institute’s Lee Seol‑young on policy, Korea Insurance Research Institute’s Cheon Ji‑yeon on regulatory evolution, and Min Dong‑hwan of Autonomous A2Z on infrastructure needs for Level 4 autonomous vehicles.
The AI track featured Hugo Mouton of Hannover Re on reinsurer perspectives, Nir Perry of Cyberwrite on AI‑powered underwriting for cyber insurance, and Jimmy Au of Bolttech on agentic AI’s potential to improve efficiency and service delivery.
Cyber risk remained a major theme. Sie Liang Lau of Samsung Reinsurance and Scott Stransky of Marsh discussed Korea’s cyber threat landscape and the sophisticated analytics insurers use to model exposures.
The conference also emphasised practical partnerships. A new Partners Zone brought together companies working in autonomous driving, cyber security, insurtech and more. RideFlux, a domestic autonomous driving developer, showcased its self‑driving technology and AI systems tailored to Korea’s dense urban networks. The exhibition aimed to give insurers a closer look at technologies that could shape future underwriting and risk management.
KIIC concluded with a networking reception, providing a final opportunity for participants to discuss potential collaborations. The event underscored the insurance industry’s growing focus on resilience, AI integration and cross‑industry partnerships as it adapts to a rapidly changing risk environment.
KIIC moved beyond traditional underwriting and claims discussions to focus on how insurers can create sustainable business models amid more frequent natural disasters, rapid technological change, and growing economic uncertainty. A recurring message was the industry’s shift from a compensation‑based model toward one that prioritises proactive resilience and dynamic risk management.
The opening day was dominated by the general assembly of The LINK, a public‑private‑academic platform founded by Samsung Fire & Marine Insurance. The LINK aims to advance climate adaptation, disaster science innovation and integrated safety governance. The assembly was split into two sessions. The first examined how climate‑related and social risks can be measured and how Korea can close its protection gap—the difference between total economic losses and losses covered by insurance.
Professor Kim Tae‑yun of Hanyang University presented the K‑Risk Barometer, a framework that converts social and environmental hazards into standardised indicators to help insurers spot emerging national risks early. Ha Jong‑mok, director general of the prevention policy bureau at the Ministry of the Interior and Safety, outlined a disaster‑resilience certification programme for businesses. Under the proposal, companies that demonstrate stronger prevention capabilities could receive discounts on insurance premiums, creating a financial incentive for better risk management.
Professor Jeong Su‑jong of Seoul National University’s Climate Tech Center quantified the physical and economic costs of climate change in Korea. His analysis highlighted the country’s protection gap and the increasing challenge of uninsurable risks as natural catastrophes become more frequent and severe.
The second session moved from diagnosis to implementation. Speakers discussed governance structures, partnership agreements and collaboration opportunities among insurers, technology firms and public institutions. Choi Young‑hwa, head of Samsung Fire & Marine Insurance’s Global Loss Control Center, outlined The LINK’s strategic direction and key initiatives. Makoto Yamashiro of Tokio Marine Holdings shared lessons from Japan’s Bosai Consortium CORE, a disaster‑prevention initiative that combines data across industries to develop preventive risk solutions. Organisers suggested the Bosai model could serve as a blueprint for The LINK’s future development.
Thursday’s agenda focused on how emerging technologies and geopolitical tensions reshape risk and insurers’ responses. Sessions covered technological innovation, cross‑industry connectivity and the evolving role of insurers in future industrial ecosystems. Samsung Fire & Marine Insurance CEO Lee Mun‑hwa opened the day, followed by remarks from Hanwha General Insurance CEO Na Chae‑beom and Financial Services Commission Standing Commissioner Ahn Chang‑kuk.
Keynote speakers included Tracy‑Lee Kus, co‑CEO of Aon EMEA, who assessed how insurance markets are reacting to a complex global risk environment, and Kevin Russell, a senior fellow at the McKinsey Global Institute, who discussed AI‑driven industrial transformation and the five sectors he believes will benefit long‑term.
Later sessions examined specific industries. Beatrix Hartinger, chief underwriting officer for global property at Munich Re, looked at how demographic, economic and technological trends are reshaping property and casualty markets. Doh Young‑jin, adviser to Hyundai Motor Group, explored how advances in physical AI could transform mobility and the relationship between automotive and insurance industries.
A joint session with Nevenka Mattenet of Hartford Steam Boiler and Choi Yoon‑ho of Samsung Electronics examined how connected‑device data can be integrated into insurance operations. Thursday afternoon’s breakout sessions focused on autonomous mobility and AI‑driven transformation across the insurance value chain. The autonomous driving track included Seoul Institute’s Lee Seol‑young on policy, Korea Insurance Research Institute’s Cheon Ji‑yeon on regulatory evolution, and Min Dong‑hwan of Autonomous A2Z on infrastructure needs for Level 4 autonomous vehicles.
The AI track featured Hugo Mouton of Hannover Re on reinsurer perspectives, Nir Perry of Cyberwrite on AI‑powered underwriting for cyber insurance, and Jimmy Au of Bolttech on agentic AI’s potential to improve efficiency and service delivery.
Cyber risk remained a major theme. Sie Liang Lau of Samsung Reinsurance and Scott Stransky of Marsh discussed Korea’s cyber threat landscape and the sophisticated analytics insurers use to model exposures.
The conference also emphasised practical partnerships. A new Partners Zone brought together companies working in autonomous driving, cyber security, insurtech and more. RideFlux, a domestic autonomous driving developer, showcased its self‑driving technology and AI systems tailored to Korea’s dense urban networks. The exhibition aimed to give insurers a closer look at technologies that could shape future underwriting and risk management.
KIIC concluded with a networking reception, providing a final opportunity for participants to discuss potential collaborations. The event underscored the insurance industry’s growing focus on resilience, AI integration and cross‑industry partnerships as it adapts to a rapidly changing risk environment.
