Global insurers call for cross-border cooperation to tackle evolving risks, widening protection gaps

Artificial intelligence (AI) and autonomous technologies are rewriting the rules of risk, while more frequent climate-related disasters and geopolitical tensions are making that risk harder to predict and quantify. Those shifts have left insurers grappling with questions that extend well beyond traditional underwriting and claims management: how to price emerging risks, how to narrow widening protection gaps and how to remain relevant as the nature of risk itself evolves. To address these concerns, more than 1,300 insurance executives, risk specialists and technology leaders representing 175 companies from around the world convened in Seoul this week for the Korea International Insurance Conference. The two-day event, held at the Grand InterContinental Seoul Parnas with Samsung Fire & Marine Insurance as lead sponsor, was built around a theme that encapsulated those concerns: “Insuring the Future in a Changing Risk Landscape.” Opening the conference’s main session on Thursday, Samsung Fire & Marine Insurance CEO Lee Mun-hwa remarked that the industry must move beyond its traditiona