Park Han-sol reports on Korea's financial regulators, along with fintech and insurance. She previously wrote about the art world, from biennales and exhibitions to fairs and auctions, with a focus on Seoul and the figures shaping the scene. Before joining The Korea Times, she spent a year at ABC News' Seoul bureau, contributing to coverage of major Asia-Pacific events.
Global insurance leaders convene in Seoul as AI, emerging technologies reshape risk
Members of The LINK, or the Leader's Innovation Network in Korea, pose during a general assembly held as part of this year's Korea International Insurance Conference (KIIC) at the Grand InterContinental Seoul Parnas, Wednesday. Courtesy of Samsung Fire & Marine Insurance
By Park Han-sol
As artificial intelligence (AI) reshapes industries and geopolitical tensions add new layers of uncertainty, more than 1,300 global insurance leaders and risk specialists have gathered in Seoul this week to debate how the industry should adapt and move forward.
The Korea International Insurance Conference (KIIC), sponsored by Samsung Fire & Marine Insurance, opened Wednesday at the Grand InterContinental Seoul Parnas under the theme "Insuring the Future in a Changing Risk Landscape."
The two-day event has drawn participants from 175 companies across 27 countries, including insurers, reinsurers, brokerage firms, insurtech groups — which use technology to find cost savings and efficiencies — and risk consultancies, making it Korea's largest international gathering for the insurance sector. Now in its third year, KIIC has established itself as a forum for cross-border dialogue, knowledge sharing and business partnerships between Korean insurers and global markets.
This year's conference moves beyond traditional discussions of underwriting and claims, focusing instead on how insurers can build sustainable business models amid more frequent natural disasters, technological disruption and mounting economic uncertainty. A recurring theme throughout the event is the industry's shift from a compensation-based model toward one centered on proactive resilience and dynamic risk management.
A promotional image for the Korea International Insurance Conference 2026 / Courtesy of KIIC Organizing Committee
Closing Korea's protection gap
Wednesday's program was anchored by the general assembly of The LINK, or the Leader's Innovation Network in Korea, a public-private-academic platform established by Samsung Fire & Marine Insurance to advance climate adaptation, disaster science innovation and integrated safety governance.
The assembly was divided into two sessions. The first focused on measuring the risks created by climate change and broader social transformation, while exploring ways to narrow Korea's protection gap — the difference between total economic losses and those covered by insurance.
Kim Tae-yun, a professor at Hanyang University's Institute of Science and Technology Policy, unveiled the framework behind the "K-Risk Barometer," a system designed to translate social and environmental hazards into standardized indicators that could help insurers identify emerging national risks earlier.
Ha Jong-mok, director general of the prevention policy bureau at the Ministry of the Interior and Safety, outlined a disaster resilience certification program for businesses. Under the proposal, companies that demonstrate stronger disaster prevention capabilities could see those efforts reflected in insurance pricing, creating incentives for improved risk management while strengthening public safety.
Jeong Su-jong, a professor at Seoul National University's Climate Tech Center, presented research quantifying the physical and economic costs of climate change in Korea. His analysis focused on the country's protection gap and the growing challenge posed by so-called uninsurable risks as natural catastrophes become more frequent and severe.
The second session shifted from risk diagnosis to implementation, examining how those insights could be translated into practical business models. Through presentations and panel discussions, participants discussed governance structures, partnership agreements and opportunities for collaboration among insurers, technology companies and public institutions.
Among the speakers was Choi Young-hwa, head of Samsung Fire & Marine Insurance's Global Loss Control Center, who outlined The LINK's strategic direction and key initiatives.
Makoto Yamashiro, section chief of the solutions business department at 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. Organizers pointed to the model as a potential blueprint for The LINK's future development.
Insurance in age of AI, cyber threats and autonomous mobility
Attention turns Thursday to how emerging technologies and geopolitical tensions are reshaping both the nature of risk and the insurance industry's response.
The day's main sessions focus on technological innovation, cross-industry connectivity and the evolving role of insurers within future industrial ecosystems. Samsung Fire & Marine Insurance CEO Lee Mun-hwa is scheduled to deliver opening remarks, followed by welcoming addresses from Hanwha General Insurance CEO Na Chae-beom and Financial Services Commission Standing Commissioner Ahn Chang-kuk.
The keynote program opens with Tracy-Lee Kus, co-CEO of Aon EMEA, who is expected to assess how insurance markets are responding to an increasingly complex global risk environment.
Kevin Russell, a senior fellow at the McKinsey Global Institute, follows with a discussion of AI-driven industrial transformation and the five sectors he believes are best positioned to emerge as long-term beneficiaries.
Later in the day, discussion is expected to shift from broad market forces to their implications for specific industries.
Beatrix Hartinger, chief underwriting officer for global property at Munich Re, is set to examine how demographic, economic and technological trends are reshaping property and casualty insurance and reinsurance markets.
Autonomous driving takes center stage in a presentation by Doh Young-jin, adviser and former head of Hyundai Motor Group's Center for the Future of Management, who will explore how advances in physical AI could transform mobility and redefine the relationship between the automotive and insurance industries.
A joint session featuring Nevenka Mattenet, vice president at Hartford Steam Boiler (HSB), and Choi Yoon-ho, president of Home Connectivity Alliance and head of strategic alliances at Samsung Electronics, examines how connected device data can be integrated into insurance operations.
Thursday afternoon's breakout sessions delve deeper into two themes: autonomous mobility and AI-driven transformation across the insurance value chain.
The autonomous driving track begins with an overview of Seoul's policy framework from Lee Seol-young of The Seoul Institute. Cheon Ji-yeon, head of the Mobility Center at the Korea Insurance Research Institute, will then examine how insurance and regulatory systems may need to evolve as self-driving technologies move closer to commercialization.
Min Dong-hwan, director at Autonomous A2Z, rounds out the discussion with proposals for the insurance and data infrastructure needed to support the responsible deployment of Level 4 autonomous vehicles in Korea.
The second track focuses on how AI is changing insurance operations, from underwriting and claims management to customer engagement.
Hugo Mouton, who oversees digital business at Hannover Re, offers a reinsurer's perspective on AI-powered insurtech innovation, while Cyberwrite founder and CEO Nir Perry discusses the use of AI-driven underwriting to expand the cyber insurance market.
Jimmy Au, head of product management at Bolttech, examines the rise of agentic AI and its potential to improve efficiency, growth and service delivery across the industry.
Cyber risk remains another major theme. In a special address, Sie Liang Lau, head of cyber and casualty at Samsung Reinsurance, and Scott Stransky, managing director and head of the Cyber Risk Intelligence Center at Marsh, will each discuss the threat landscape facing Korea and the increasingly sophisticated analytics insurers are using to model cyber exposures.
Push for practical partnerships
Beyond the panel sessions, organizers have also put greater emphasis this year on fostering commercial partnerships.
A newly introduced Partners Zone brings together companies working in fields ranging from autonomous driving and cyber security to insurtech. Among them is RideFlux, a domestic autonomous driving developer showcasing its proprietary self-driving technology and AI systems tailored to the country's dense urban road networks.
The exhibition is intended to give insurers a closer look at technologies that could shape future underwriting and risk management, while creating opportunities for potential commercial partnerships.
To facilitate more substantive discussions, the conference has also expanded its one-on-one meeting program, providing dedicated spaces for private negotiations and partnership talks.
The event wraps up Thursday evening with a networking reception, bringing together participants from across the global insurance ecosystem for a final round of conversations.