Samsung Fire & Marine Insurance Holds 4th National University and Graduate Student Risk Management Competition

Held to Discover Innovative Risk Management Ideas in the Age of AI
120 Teams from Across the Country Participated; 7 Finalists Competed in the Finals

Samsung Fire & Marine Insurance announced on May 29 that it held the final presentation of the "4th National University and Graduate Student Risk Management Competition" at the Samsung Financial Campus in Seocho-gu, Seoul, on May 28.

Participants of the final presentation of the 4th National University and Graduate Student Risk Management Competition, held by Samsung Fire & Marine Insurance on the 28th at Samsung Financial Campus in Seocho-gu, Seoul, are taking a commemorative photo. Photo by Samsung Fire & Marine Insurance

Jointly hosted by Samsung Fire & Marine Insurance, the POSTECH Open Innovation Big Data Center, and the Seoul National University Center for Securities and Finance Research, this competition has been running since 2022 to increase university students' interest in the non-life insurance industry and to discover creative risk management ideas.

This year's competition reflected changes in the industrial landscape due to the rapid advancement of artificial intelligence (AI) technologies. Participants selected one of two tasks within the insurance industry: an AI-powered solution or an idea for analyzing AI-induced risks.

The preliminary round, held last month, attracted 421 students across 120 teams from 62 universities nationwide. Teams worked on their preliminary assignments for about five weeks, and the seven teams that were ultimately selected competed fiercely in the final presentation on the previous day.

The judging panel consisted of Professor Park Sojung of Seoul National University, Professor Jeong Kwangmin of POSTECH, Kim Se-Yeop, CEO of SelectStar, Han Ho-Kyu, Head of Customer DX Innovation at Samsung Fire & Marine Insurance, and Kwon Jongwoo, Head of the General Insurance Division at Samsung Fire & Marine Insurance.

A total of KRW 12 million in prizes was awarded, including KRW 5 million for the Grand Prize team and KRW 3 million for the Excellence Award team.

The Grand Prize was awarded to the team "ForSure," which presented on the theme of "AI-based Safe Driving Rider for Seniors." As the Grand Prize winner, the ForSure team will represent Korea at the international insurance competition "GAIP 2026," to be held in Singapore this August.

A representative from Samsung Fire & Marine Insurance stated, "With AI transforming paradigms across industries, the importance of new risk management in the insurance sector is growing. This event was a meaningful opportunity to discuss creative risk management solutions and accumulate ideas with the talents who will lead the future of the insurance industry."

The representative added, "We will continue to identify outstanding talent to lead the future of the non-life insurance industry through a variety of programs going forward."

This content was produced with the assistance of AI translation services.