Intro
We are witnessing how adaptive humans are.
Amid the prolonged pandemic, all industries
are changing how they do business,
facilitating innovation for contactless business practices.
Insurance is no exception. In the financial
sector, insurance is considered a representative
industry, which requires
face-to-face interactions. With COVID-19 roaring on, however,
insurance companies rush to implement “InsurTech.” InsurTech is a newly coined word
combining Insurance and Technology. By using information technologies such as
data
analysis and artificial intelligence, InsurTech enables insurance
companies to stimulate
innovation for contactless business practices.
What are the advantages and disadvantages of
InsurTech?
First, Since InsurTech allows financial
advisors to understand their customers’ lifestyles
and what disease they have,
using big data, insurance advisors can present customized
insurance plans for
their customers. Also, customers buy insurance products online
without meeting
their financial planners in person. On the other hand, personal information
may
be leaked due to the use of insurance products online. Also, those who have
difficulty
using the online service are likely to be marginalized. We have to
find solutions to these issues.
Let’s look at the domestic and overseas InsurTech
markets. According to Grand View Research,
a market research firm, the global InsurTech
market will be worth $3.78 billion, or 4.29 trillion won
this year. Also, this
figure is expected to grow to $60.98 billion, or 69.2 trillion won) by 2028.
InsurTech
has bright prospects.
Domestic insurance companies are rushing to
implement InsureTech. Domestic insurance
companies are using AI OCR, an optical
character reading device using artificial intelligence,
to receive insurance
claims. By doing this, AI will check the terms and conditions of the
agreements,
subscription documents when customers sign up for a product.
Also, InsurTech allows insurance companies
to collect health data from their customers
and suggest customized health care
services or develop new types of insurance products.
Besides, a new AI device
for measuring driving data, which is more accurate
than the navigation device has been introduced in the market.
Against this backdrop, the Financial News
and Korea Insurance Research Institute jointly hold
“the 14th International
Insurance Symposium” on October 14th in the Grand Ballroom (1st floor)
at the
Westin Chosun Hotel in Sogongro, Seoul under the theme of “Insurtech, the
future of
digital innovation in the insurance industry.” At this event,
domestic and foreign experts on
InsureTech will have vibrant lectures and
discussions about the current status
and development plans of InsurTech, challenges to be solved,
and government policy directions for InsurTech amid
the prolonged pandemic.
Overview
Title : The 14th Global Insurance Symposium
Theme : 'Insurtech,' The Future Digital Innovation of Insurance Industry
Date : October 14th(Thur), 2021, 09:00 - 13:00 (KST.GMT+9)
Venue : Grand Ballroom (1F), The Westin Chosun Hotel, Seoul
Host : Financial News, Korea Insurance Research Institute
Sponsor : Financial Services Commission, Financial Supervisory Service,
Korea Deposit Insurance Corporation, Korea Life Insurance Association,
General Insurance Association of Korea, Korea Insurance Development Institute
Contact : Secretariat of the 14th Global Insurance Symposium
Tel, +82-2-6965-0026 / E-mail, cayley@fnmice.com
Time | Section | Program |
08:30 - 09:00 | Registration | |
09:00 - 09:30 | Opening Ceremony |
<Opening Remarks>
Jeon, Seon IK President & CEO, The Financial News
<Welcoming Remarks>
Ahn, Chulkyung President The Korea Insurance Research Institute
<Congratulatory Remarks>
Jeong, Eun Bo President Financial Supervisory Service
Chung, Hee Soo Chairman, Korea Life Insurance Association
Jung,Ji Won Chairman & CEO, General Insurance Association of Korea |
09:30 - 10:00 | 기조강연 | <The Digital Future of Insurance Has Already Arrived> Ian GreenPresident, MDRT Executive Committee |
10:00 - 10:30 | 강연 | <The InsurTech Sector Coming of Age: Evolution and Recent Developments> Alexander Braun Director, Institute of Insurance Economics of the University of St.Gallen |
10:30 - 11:00 | <Analysis of Insurance consumption of MZ generation in Digital insurance era> Son, Jae hee Research Fellow, Digital Innovation Research Team, | |
11:00 - 11:30 | <The Role of Platform for Innovation of Insurance Industry> Seo, Yoon Seok Head, Business Development, Viva Republica | |
11:30 - 12:00 | 패널토론 | [Moderator] Kim Jae HyunPresident, Korea Risk Management Society [Panels] Yang, Hae WhanHead, Supervision department Financial Supervisory Service Son, Jae hee Research Fellow, Ditital Innovation Research Team, Korea Insurance Research Institute Seo, Yoon Seok Head, Business Development, Viva Republica Jung, Kyu SikTeam Leader, KYOBO Life Open Innovation |
*This program is subject to change.
-
Ian Green
President, MDRT Execuutive Comittee
-
Alexander Braun
Director, the Institute of Insurance Economics of the University of St. Gallen
-
Son, Jae Hee
Research Fellow, Digital Innovation Research Team, Korea Insurance Research Institute
-
Seo, Yoon Seok
Head, Business Development, Viva Republica
-
Kim, Jae Hyun
President, Korea Risk Management Society
-
Yang, Hae Whan
Director General, Insurance Supervision Department Financial Supervisory Service (FSS)
-
Jung, Kyu Sik
Team Leader, KYOBO Life Open Innovation

Ian Green (Dip PFS) is the 2021 MDRT Association President. A 23-year MDRT member, Ian Green achieved the COT (Court of the Table) 5 times and the TOT (Top of the Table) 15 times. Ian Green is a Platinum Knight of the MDRT Foundation and a member of the Inner Circle Society. He is also the founder of London-based Green Financial Advice, a family-run financial planning firm. Looking at his extensive MDRT activities, he has held leadership roles in several areas, including TOT's Divisional Vice President (DVP) in 2017 and Chair of the Main Platform/Special Sessions Committee of the 2016 Annual General Meeting. He has been a regular speaker and has served on the Board of Directors of the Personal Finance Society Charitable Foundation and on the Board of Directors of the Life Insurance Association.

Alexander Braun is Director at the Institute of Insurance Economics of the University of St. Gallen (HSG) in Switzerland, where he also holds the Associate Professorship in Insurance and Capital Markets. In addition, he is an Affiliated Scholar at the Wharton Risk Center (University of Pennsylvania). Mr. Braun studied at the University of Mannheim (Germany) and Monash University (Australia). He obtained a Ph.D. in Finance at HSG, where he was also awarded the Venia Legendi. During his doctoral and postdoctoral phase, he completed stays at the University of Michigan (US) and the University of Essex (UK). Later he held visiting scholar positions at the Wharton School (Penn) and Fox School of Business (Temple University), both in the US. He started his professional career in the Capital Markets Division of Lehman Brothers in London. Overall, he looks back on more than 12 years of combined scholarly and practical experience in risk management, insurance, and the financial markets.

<Education> Sungkyunkwna University, Seoul, Korea Economics B.A. Sungkyunkwna University, Seoul, Korea Economics Study in Ph. D. University of California, Riverside Economics M.A. University of California, Riverside Economics Ph.D. <Career> Samsung REsearch Institutes of Finance Research Fellow (2008-2010) Research Center of Insurance & Financial Industry in Samsung Fire & Marine Insurance Research Fellow (2011-2012) Samsung Economic Research Institute Research Fellow (2013-2020)

<Eduacation> Viva Republica, Head of business development (2020.01~) Meritz Fire, Long-term product part (2017.01~2020.01) AIA Life Korea, Product planning team (2007.11~2017.01)

<Education> Sogang University, Department of Economics (BA) Georgia State University (MBA, Insurance) Temple University (Ph.D. Risk Management & Insurance) <Career> Financial Research Team, Insurance Research Institute, Insurance Development Institute Samsung Fire & Marine Insurance Management Planning Team Former Vice President of Sangmyung University Cheonan Campus 2011 - 2016 Director of Allianz Life Insurance Co., Ltd. 2018 - 2021 Director, KDB Life Co., Ltd. 2016 - 2020 Advisory Committee, Financial Supervisory Service 2018 - 2021 Rent-A-Car Mutual Aid Association Steering Committee 2014 - Retirement Pension Commissioner, Korea Workers' Compensation and Welfare Corporation 2015 - Life Insurance Product Disclosure Committee 2016 - Auto Accident Damage Support Fund Steering Committee 2021 - Founding Advisory Committee for Small and Medium Business Retirement Pension Fund Editor-in-chief of the Korean Association for Risk Management, Executive Director, Current President Executive Director, Vice-President, Korea Insurance Association Korean Pension Society Executive Director, President (2017) Executive Director, Korean Social Security Association

<Career> January 2021 Director General, Insurance Supervision Department January 2020 Director General, Life Insurance Examination Department February 2019 Secondee to the Provincial Government of the Jeollabuk-do (as a financial advisor) March 2018 Head, Examination Team, Non-life Examination Department March 2017 Head, Insurance Coordination Team, Insurance Supervision Department March 2016 Head, Public Affairs Planning Team, Public Affairs Department March 2015 Head, Financial Issue Analysis Team, Macro-prudential Supervision Department April 2014 Head, Examination Team, Life Insurance Examination Department May 2013 Head, Examination Team, Financial Investment Examination Department January 1995 Joined the Insurance Supervisory Board, one of the predecessor bodies to FSS

<Education> The George Washington University, MBA (1999 ~ 2021) Korea University, Bachelor of Public Administration (1991 ~ 1997) <Career> Team Leader, Kyobo Life Insurance, Open Innovation Team (2021. 1 ~ Present) Team Leader, Kyobo Life Insurance, Digital Business Team (2016. 5 ~ 2020. 12) Team Leader, BC Card, Global Business Team (2014 ~ 2016) LG CNS Entrue Consulting Division, Finance Group, Managing Consultant (2010 ~ 2014) Ernst & Young, FSRM, Manager (2007 ~ 2010) Samsung SDS, Consulting Division, Senior Consultant (2001 ~ 2007)