[POSTECH-Samsung Fire & Marine Insurance Co. held a training and international academic seminar in London… The first overseas academic seminar held in the domestic insurance industry]

Samsung Fire & Marine Insurance-POSTECH held advanced insurance market training and international academic seminars from January 6 to 12 with the winners of the “2nd Data-Based Risk Management Competition.”

The competition was co-hosted by Samsung Fire & Marine Insurance Co. and POSTECH under the theme of “Data-Based Risk Management” and was held to increase student interest in the non-life insurance industry to obtain data and innovative analysis model ideas on emerging risks.

The London training seminar was the first international academic seminar since 1964 when the Korean Insurance Association was established, and it was a significant event for the insurance industry, society, and industry as a whole, with scholars from different fields, Samsung Fire & Marine Insurance, and insurance researchers participating together in advanced markets and academia abroad.

The seminar, which began with a congratulatory speech by Ahn Cheol-kyung, director of the Insurance Research Institute, was held under the theme of “Fast-changing landmarks of the inspiration industry.” △Meryem Duygun, a professor at Nottingham University in the UK, △Martin Elling, Alexander Braun, a professor at the University of Switzerland, St. Gallen University △ Ruo Alex Jia, a professor at Peking University △ Jeong Kwang-min, a professor at POSTECH, participated as a speaker. In addition, Samsung Fire & Marine Insurance executives and employees made presentations on responding to new risks following introducing new accounting standards (IRFS17) and new K-ICS, an overview of the auto insurance market, and strategies to improve profitability.

The seminar was discussed in depth based on world-class scholars’ research results and specifically how to respond to the insurance industry in a new risk environment, such as △ decentralized finance in the insurance industry △ blockchain △ digital transformation and climate change. An official from Samsung Fire & Marine Insurance said, “The training and international academic seminar were promoted as part of the leap forward to become a global Samsung Fire & Marine Insurance. As a leading company in Korea, we will make efforts to continue the development of the insurance industry.”