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Global insurance experts converge at KIIC to shape industry's future
Participants attend business meetings during the Korea International Insurance Conference at Inspire Entertainment Resort in Incheon, Wednesday. Courtesy of Samsung Fire & Marine Insurance
By Jun Ji-hye
The Korea International Insurance Conference (KIIC) — now in its second year — has returned as a collaborative platform for global and domestic insurance leaders to address the evolving risks facing the industry and explore innovative, sustainable strategies for the future.
Co-organized by key industry institutions and supported by Samsung Fire & Marine Insurance (SFMI) as lead sponsor, KIIC reflects Korea's growing ambition to position itself as a global hub for insurance dialogue. The event is a joint effort involving Korea's major insurance associations, research institutes and private sector leaders, working together to strengthen the industry's global footprint.
Held under the theme "Evolving Risks, Agile Action," this year's KIIC runs for two days at the Inspire Entertainment Resort in Incheon, offering a forward-looking agenda focused on rethinking the insurance sector's role amid rising complexity and uncertainty driven by climate change and digital transformation.
Industry-wide commitment
Thursday's main session begins at 10 a.m. with opening remarks from Lee Mun-hwa, CEO of SFMI, who will highlight the KIIC's growth into Korea's first global insurance conference and its significance as a neutral, industry-led initiative designed to foster long-term, sustainable development in the insurance sector.
Lee Hyung-ju, standing commissioner of Korea's Financial Services Commission, will deliver congratulatory remarks, underscoring the importance of public-private cooperation in enhancing the competitiveness of Korea's insurance industry.
Insightful keynotes on global risks
Two keynote speeches will anchor the morning program.
Ha Tae-keung, president of the Korea Insurance Institute, will present under the theme "Risk, Trust, Transformation," exploring how the insurance industry can rebuild trust and evolve amid growing global uncertainty.
Jad Ariss, managing director of the Geneva Association, will deliver the second keynote, titled "The Insurance Industry's Role in a Risk-Evolving World," providing a global perspective on the sector's responsibilities in addressing systemic risks.
Cyber and climate at forefront
This year's KIIC highlights cyber threats and climate change as two of the most pressing risks facing the insurance industry.
Robert O'Connell, global cyber strategy & growth leader at Aon, will present "A Deep Dive into the Global Cyber Ecosystem," examining the state of cyber risks and key trends shaping the global response.
Tobias Grimm, chief climate scientist at Munich Re, will speak on "Navigating the Storm — Natural Catastrophes, Climate Change and the Future of Insurance," addressing how the industry must adapt to increasingly frequent and severe natural disasters.
In addition, Im Joo-hyuk, head of the non-life insurance division at the Korea Insurance Development Institute, will deliver a presentation on Korea's general insurance market outlook for 2024–25, offering a data-driven view of the sector's current trajectory.
Break-out sessions drive practical insights
Afternoon sessions begin at 1:50 p.m., with three break-out tracks designed to facilitate deeper exploration and practical discussion.
Cyber risk track offers a multi-dimensional view of the cyber threat landscape, including legal, strategic and operational perspectives, while high-tech industry risk track focuses on emerging risks tied to high-tech sectors and building fast, effective crisis response mechanisms.
Climate change track explores evolving climate risk models and management strategies aimed at supporting long-term sustainability in the Korean insurance market.
Claims-focused pre-conference sessions
Wednesday, the first day of the event, featured a dedicated session on "Evolving Claims" from 1:30 p.m. to 5:30 p.m., bringing together domestic and global claims experts for practical discussions on underwriting and claims trends.
Participants included professionals from primary insurers, reinsurers, law firms and claims service providers. The session focused on cyber insurance, product liability and offshore wind insurance — all areas requiring specialized claims capabilities in the face of new and emerging risks.
Truly collaborative vision
KIIC has emerged as a platform not owned by any single company but rather co-created by the industry — with leading roles played by the General Insurance Association of Korea, Korea Insurance Development Institute, Korea Insurance Institute and Korea Insurance Research Institute, among others.
Samsung Fire & Marine Insurance, as the lead sponsor, has played a key role in enabling the event's expansion while reinforcing the vision of a neutral, inclusive and globally engaged insurance conference.
With increased participation — going from 500 attendees last year to 900 this year representing 150 companies from 23 countries — KIIC is rapidly growing into a major international forum for the insurance community.
"KIIC is not just about sharing knowledge — it's about co-designing the future of our industry," said SFMI CEO Lee. "We hope this platform continues to grow as a space where the global and Korean insurance sectors meet, collaborate and shape a more resilient and innovative future together."