The Korea Insurance Development Institute announced on the 12th that it held the 2025 KIDI Insurance Future Forum at the FKI Tower in Yeouido, Seoul, under the theme of the convergence of artificial intelligence (AI) and insurance, aimed at reshaping the insurance industry.
The Insurance Future Forum, now in its fifth year, serves as a global platform for exchanging information, diagnosing the current challenges of the insurance industry, and seeking future growth strategies. This year, AI innovation experts from global insurance organizations gathered, including the Korea Insurance Development Institute, the National Association of Insurance Commissioners (NAIC) from the United States, Amazon Web Services, IBM, and Milliman. The forum featured active discussions, highlighting case studies of AI and new technology applications that are catalyzing fundamental changes in the insurance sector, as well as the importance of responsible use and oversight.
Huh Changun, President of the Korea Insurance Development Institute, is speaking at the '2025 KIDI Insurance Future Forum' held at the FKI Tower in Yeouido, Seoul, on the 12th. Korea Insurance Development Institute
In the keynote speech, Dorothy Andrews, Head of Data Analytics at NAIC, emphasized the role of regulators in minimizing bias in AI models. She stated, "Human oversight is essential to ensure the ethical and transparent operation of AI technologies, and for this reason, the establishment of AI governance is necessary."
Kyunghee Yang, Head of Data Innovation at the Korea Insurance Development Institute, delivered the first thematic presentation titled "New Value Created by Data in the AI Era," introducing the institute's case studies on data innovation. She said, "The future of the insurance industry will be determined by the ability to create value from data," adding, "Innovation in the data value chain that enhances the value of data utilization is key."
Terry Buckner, Insurance Core Systems Leader at Amazon, presented on "Modernization of Insurance Core Systems," sharing examples of how insurance companies are leveraging new technologies such as generative AI in cloud-based systems. Core systems are the backbone IT systems that operate the overall functions of insurance processes such as contract management, premium calculation, and claims and payments. They serve as the main engine for insurance operations.
Christian Vieh, from IBM, addressed "The Future and Strategy of the Insurance Industry in the AI Era," diagnosing the current state and future trends of AI utilization based on the latest survey data.
Tom Prince, a founding member of Milliman's Generative AI Center, shared practical insights for the successful adoption of generative AI by insurance companies, presenting case studies of large language model (LLM) technology applications in the United States and abroad.
Huh Chang-eon, President of the Korea Insurance Development Institute, said, "To achieve true AI innovation, it is essential to first address challenges such as data ethics, personal information protection, algorithm reliability, and accountability." He added, "I hope that the insurance industry, which is based on public trust, will establish a transparent and responsible innovation model suited to the AI era."
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