Kyobo Life creates contribution award

Kyobo Life Insurance, along with the Asia-Pacific Risk and Insurance Association (APRIA), has created an award for insurance researchers, the Korean company said Tuesday.

The APRIA-KYOBO Contribution Award is created to annually honor those who carry out outstanding research and contribute to the insurance industry.

APRIA is one of three industry global academic societies, with some 350 members, mainly researchers, from around 30 countries. The others are American Risk and Insurance Association (ARIA) and European Group of Insurance Economists (EGRIE).

Along with the award, Kyobo plans to give financial support to researchers from underdeveloped economies to participate in international academic events.

The international award is the second created by the third-largest life insurer, following the Shin Research Award for Excellence to commemorate the contribution of Shin Yong-ho, the founder of Kyobo Life Insurance, to the global insurance industry. The contribution award was created in 1997.