Insurance industry officials from around the world gathered in Seoul to discuss the role and future strategies of the insurance industry in responding to emerging risks such as artificial intelligence (AI), autonomous driving, and cybersecurity.
Samsung Fire & Marine Insurance (000810.KS) participated as a lead sponsor in the "3rd Korea International Insurance Conference (KIIC)," held at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul, from the 10th to the 11th, the company said Tuesday.
KIIC is an international event established to enhance the global competitiveness of Korea's non-life insurance industry and to expand exchanges with the overseas insurance sector. This year, under the theme "Insuring the Future in a Changing Risk Landscape," participants discussed the direction and role of the future insurance industry.
The event drew more than 1,300 insurance experts from 175 companies across 27 countries, marking the largest scale to date. Attendees included major domestic non-life insurers and Korean Re, global reinsurers such as Munich Re and Swiss Re, and global insurance brokers such as Marsh and Aon.
In particular, this year specialist firms in the fields of cybersecurity and autonomous driving also joined, exploring the potential for cooperation between the insurance industry and future industries. A "Partners Zone," where attendees could experience autonomous driving and cybersecurity technologies firsthand, was also operated so that participants could examine new business opportunities.
On the first day, a Safety Network general assembly involving figures from the public, private, and academic sectors was held to discuss measures to close the protection gap. On the second day, various presentations and discussions continued on topics including the outlook for the global insurance industry, the changes AI will bring, and strategies for responding to autonomous driving and cyber risks.
Beginning with keynote speeches by Aon and McKinsey, presentations and discussions were held involving Munich Re, Hyundai Motor, and Samsung Electronics. Participants broadly discussed key issues facing the future insurance industry, including autonomous driving, cyber risks, and the use of AI.
"KIIC is establishing itself as a leading platform connecting Korea's insurance industry with the global market," a Samsung Fire & Marine Insurance official said. "We will continue to expand cooperation between the domestic and international insurance industries and future industries, contributing to enhancing the global competitiveness of Korea's insurance industry."
