Blab Tech
South Korea Hosts Global Insurance Leaders at KIIC to Address Climate, AI and Cyber Risks
In a bustling hall at the Grand InterContinental Seoul Parnas, more than 1,300 industry leaders from 175 companies in 27 countries gathered to confront the new face of risk.
The Korea International Insurance Conference (KIIC) opened on Wednesday, marking the event’s third year and its status as Korea’s largest non‑life insurance gathering. Sponsored by Samsung Fire & Marine Insurance, the conference set a new tone with the theme Insuring the Future in a Changing Risk Landscape, signaling a shift from traditional underwriting to a proactive focus on sustainable business models amid frequent natural disasters, technological disruption and economic uncertainty.
A highlight of the opening day was the general assembly of The LINK, a public‑private‑academic platform created by Samsung Fire & Marine Insurance to advance climate adaptation and integrated safety governance. The assembly unfolded in two parts. First, experts examined how climate change and social transformation spawn new risks and how Korea can narrow its protection gap—the difference between total economic losses and losses covered by insurance. Professor Kim Tae‑yun of Hanyang University introduced the K‑Risk Barometer, a framework that translates social and environmental hazards into standardized indicators for insurers. Ha Jong‑mok, director general of the prevention policy bureau at the Ministry of the Interior and Safety, outlined a disaster‑resilience certification program that would allow businesses with stronger prevention capabilities to receive favorable insurance pricing.
Professor Jeong Su‑jong of Seoul National University’s Climate Tech Center presented research on the physical and economic costs of climate change in Korea, underscoring the growing 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.
Thursday’s program turned to emerging technologies and geopolitical tensions. The keynote, delivered by Tracy‑Lee Kus, co‑CEO of Aon EMEA, assessed how insurance markets are responding to a complex global risk environment. Kevin Russell of the McKinsey Global Institute discussed AI‑driven industrial transformation and identified five sectors best positioned to benefit.
Industry‑specific sessions followed. Beatrix Hartinger of Munich Re examined how demographic, economic and technological trends reshape property and casualty markets; Doh Young‑jin, adviser to Hyundai Motor Group, explored how physical AI could transform mobility and the relationship between automotive and insurance; and a joint session with Nevenka Mattenet of Hartford Steam Boiler and Choi Yoon‑ho of Samsung Electronics looked at integrating connected‑device data into insurance operations.
Breakout sessions delved deeper into autonomous mobility and AI transformation across the insurance value chain. The autonomous driving track covered Seoul’s policy framework, regulatory evolution and the infrastructure needed to support Level 4 vehicles. The AI track featured Hugo Mouton of Hannover Re, Nir Perry of Cyberwrite, Jimmy Au of Bolttech and experts from Samsung Reinsurance and Marsh discussing cyber‑risk analytics and the expanding cyber‑insurance market.
Practical partnerships took center stage in the new Partners Zone, where companies working on autonomous driving, cyber security, insurtech and more showcased their solutions. RideFlux, a domestic autonomous‑driving developer, demonstrated its self‑driving technology tailored to Korea’s dense urban networks. An expanded one‑on‑one meeting program provided dedicated spaces for private negotiations.
The event concluded with a networking reception, offering participants a final opportunity to discuss collaboration prospects.
Overall, KIIC highlighted the insurance industry’s need to move beyond compensation toward proactive resilience, leveraging climate science, AI, autonomous mobility and cyber‑risk analytics to adapt to an increasingly uncertain risk environment.
The Korea International Insurance Conference (KIIC) opened on Wednesday, marking the event’s third year and its status as Korea’s largest non‑life insurance gathering. Sponsored by Samsung Fire & Marine Insurance, the conference set a new tone with the theme Insuring the Future in a Changing Risk Landscape, signaling a shift from traditional underwriting to a proactive focus on sustainable business models amid frequent natural disasters, technological disruption and economic uncertainty.
A highlight of the opening day was the general assembly of The LINK, a public‑private‑academic platform created by Samsung Fire & Marine Insurance to advance climate adaptation and integrated safety governance. The assembly unfolded in two parts. First, experts examined how climate change and social transformation spawn new risks and how Korea can narrow its protection gap—the difference between total economic losses and losses covered by insurance. Professor Kim Tae‑yun of Hanyang University introduced the K‑Risk Barometer, a framework that translates social and environmental hazards into standardized indicators for insurers. Ha Jong‑mok, director general of the prevention policy bureau at the Ministry of the Interior and Safety, outlined a disaster‑resilience certification program that would allow businesses with stronger prevention capabilities to receive favorable insurance pricing.
Professor Jeong Su‑jong of Seoul National University’s Climate Tech Center presented research on the physical and economic costs of climate change in Korea, underscoring the growing 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.
Thursday’s program turned to emerging technologies and geopolitical tensions. The keynote, delivered by Tracy‑Lee Kus, co‑CEO of Aon EMEA, assessed how insurance markets are responding to a complex global risk environment. Kevin Russell of the McKinsey Global Institute discussed AI‑driven industrial transformation and identified five sectors best positioned to benefit.
Industry‑specific sessions followed. Beatrix Hartinger of Munich Re examined how demographic, economic and technological trends reshape property and casualty markets; Doh Young‑jin, adviser to Hyundai Motor Group, explored how physical AI could transform mobility and the relationship between automotive and insurance; and a joint session with Nevenka Mattenet of Hartford Steam Boiler and Choi Yoon‑ho of Samsung Electronics looked at integrating connected‑device data into insurance operations.
Breakout sessions delved deeper into autonomous mobility and AI transformation across the insurance value chain. The autonomous driving track covered Seoul’s policy framework, regulatory evolution and the infrastructure needed to support Level 4 vehicles. The AI track featured Hugo Mouton of Hannover Re, Nir Perry of Cyberwrite, Jimmy Au of Bolttech and experts from Samsung Reinsurance and Marsh discussing cyber‑risk analytics and the expanding cyber‑insurance market.
Practical partnerships took center stage in the new Partners Zone, where companies working on autonomous driving, cyber security, insurtech and more showcased their solutions. RideFlux, a domestic autonomous‑driving developer, demonstrated its self‑driving technology tailored to Korea’s dense urban networks. An expanded one‑on‑one meeting program provided dedicated spaces for private negotiations.
The event concluded with a networking reception, offering participants a final opportunity to discuss collaboration prospects.
Overall, KIIC highlighted the insurance industry’s need to move beyond compensation toward proactive resilience, leveraging climate science, AI, autonomous mobility and cyber‑risk analytics to adapt to an increasingly uncertain risk environment.
