Samsung Fire & Marine Insurance Hosts 2nd Global Insurance Conference 'KIIC'

Participants from 23 Countries, 150 Companies, and Over 900 Attendees
Discussions on Cyber Risk, Climate Change, and More
"Aiming to Become a Global Insurance Platform"

Samsung Fire & Marine Insurance announced on June 6 that it hosted the 2nd Global Insurance Conference (Korea International Insurance Conference, KIIC) at Inspire Resort in Yeongjongdo, Jung-gu, Incheon, on June 4 and 5.

Samsung Fire & Marine Insurance organized this event to generate insights and discover new business opportunities by facilitating discussions with domestic and international insurance experts on the various risks and volatilities currently facing the insurance industry.

Lee Munhwa, President of Samsung Fire & Marine Insurance, is speaking at the 2nd Global Insurance Conference (KIIC) held at Inspire Resort in Yeongjongdo, Jung-gu, Incheon. Samsung Fire & Marine Insurance

In order to establish KIIC as Asia's leading international insurance conference, the General Insurance Association of Korea, the Korea Fire Protection Association, the Korea Insurance Development Institute, the Insurance Institute of Korea, and the Korea Insurance Research Institute jointly sponsored the event. Ten companies, including Korean Re and Hanwha General Insurance, participated as sponsors.

This year's KIIC saw even more active exchanges than last year, with around 900 insurance professionals from 150 companies across 23 countries in attendance. Both domestic and international insurance and reinsurance companies, as well as insurance brokers, participated enthusiastically.

On the first day, efforts were made to expand practical business opportunities for participants. Independent booths were provided to sponsor companies to facilitate free meetings and corporate promotion. In the afternoon, a session was held with domestic and international claims (insurance payment review) experts, creating a platform for in-depth discussions on the entire insurance value chain, from underwriting (pre-insurance assessment) to claims.

On the second day, Lee Hyungju, Standing Commissioner of the Financial Services Commission, delivered a congratulatory address celebrating the successful establishment of Korea's largest global insurance conference and pledged continued support from the government and related institutions. Ha Taekyung, President of the Insurance Institute of Korea, delivered a keynote speech on "The Future of Insurance Shaped by Artificial Intelligence (AI) and Crypto." This was followed by presentations from Robert O'Connell of the global insurance brokerage Aon on cyber insurance, and Tobias Grimm of the global reinsurer Munich Re on strategies for responding to climate change.

During the afternoon session, experts from various fields, including Shin Yongseok, Secretary of the National Security Office, participated in in-depth discussions on cyber risk and strategies for responding to climate change.

Lee Munhwa, CEO of Samsung Fire & Marine Insurance, stated, "KIIC is a meaningful platform where insurance experts from around the world can share knowledge and experience, enhancing the international standing of Korea's general insurance market. By working together, the domestic and international general insurance industries will communicate closely with the global insurance market and realize the limitless potential of the Korean insurance market."