Korea Insurance Development Institute Holds Joint Workshop with ISM Malaysia

The Korea Insurance Development Institute held a joint workshop on the 10th in Kuala Lumpur, Malaysia, with the Malaysian Insurance Services Authority to strengthen practical cooperation in the insurance industry. Korea Insurance Development Institute

The Korea Insurance Development Institute announced on July 12 that it held a joint workshop with ISM, a Malaysian insurance service organization, in Kuala Lumpur, Malaysia, over two days from July 9 to 10, to strengthen practical cooperation in the insurance industry between the two countries.

Following the signing of a memorandum of understanding with ISM, the Korea Insurance Development Institute has been conducting training programs to facilitate knowledge sharing. With this joint workshop, the institute aims to establish a deeper and more practical cooperation framework.

In particular, the event moved away from a one-way information delivery format, providing an opportunity for the leading insurance statistics agencies of both countries to share their experiences. At ISM Malaysia’s request, the workshop covered three main topics: responses to climate change, cases of big data utilization, and insurance fraud prevention. The program was designed to enable participants to learn about and discuss the Korea Insurance Development Institute’s experiences and case studies in these areas.

Chang-eon Heo, President of the Korea Insurance Development Institute, stated, “Our K-Insurance infrastructure transfer project with Southeast Asian countries has evolved to the next level as of this joint workshop. As climate change, the adoption of AI, and increasingly sophisticated insurance fraud represent critical challenges now facing the global insurance industry, this workshop is expected to not only share knowledge, but also further strengthen the practical response capabilities of both countries.”

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