Samsung Fire & Marine Insurance-Uncovered Student Team Wins 3rd Place at International Competition

'GAIP 2026' Brings Together Nine Asian Countries
Presentation of Special Contract for Elderly Safe Driving

Samsung Fire & Marine Insurance announced on the 24th that the 'Poshure' team, discovered through its industry-academia cooperation program, won 3rd place at the international insurance competition 'GAIP (Global Asia Insurance Partnership) 2026,' which took place on the 21st at Nanyang Technological University (NTU) in Singapore.

The "Posure" team, which won 3rd place at the Singapore International Insurance Competition 'GAIP 2026' award ceremony on the 21st, is taking a commemorative photo. Samsung Fire & Marine Insurance

GAIP 2026 is a competition co-hosted by the global insurance cooperative organization GAIP and NTU, aiming to identify future talent in the Asian insurance industry. University representative teams from major Asian countries—including Korea, Japan, Hong Kong, Indonesia, and Singapore—compete by presenting risk management and innovation ideas for the insurance sector.

The Poshure team, consisting of students from Ewha Womans University, Gachon University, and Korea National Open University, achieved this result by presenting the 'Residential Area-Based Special Contract for Elderly Safe Driving,' which won the grand prize at the '4th Nationwide University (Graduate) Student Risk Management Competition.'

The special contract proposed by the Poshure team derives an activity radius for each elderly driver based on their driving records. It then analyzes driving distance, the level of safe driving within and outside the residential area, and changes in driving patterns to apply differentiated insurance premiums accordingly. By capturing individual driving changes, the policy aims to prevent accidents and offers a strategy for managing increasing mobility risks associated with population aging.

Population aging is a core challenge facing the insurance industry. According to Samsung Fire & Marine Insurance, the Poshure team received a high evaluation from the judges by proposing a car insurance rider tailored to elderly drivers from the perspective of Generation Z (born in the mid-1990s to early 2010s), resonating with the adjudicators.

During the competition, the students attended the Asian Actuarial Conference (AAC 2026) and visited the Re Singapore subsidiary, which Samsung Fire & Marine Insurance established to target the Asia-Pacific reinsurance market.

A representative from Samsung Fire & Marine Insurance stated, "It is significant that ideas developed by university students through a domestic industry-academia cooperation program have been recognized for their competitiveness on a global stage. We will continue to create opportunities for future talents to explore various insurance industry risks from new perspectives and gain global experience."

Meanwhile, the University (Graduate) Student Risk Management Competition is an industry-academia cooperation program co-hosted since 2022 by Samsung Fire & Marine Insurance, the POSTECH Open Innovation Big Data Center, and the Seoul National University Center for Securities and Finance. This year’s 4th competition saw 120 teams and 421 participants from 62 universities nationwide, with 7 teams selected through the preliminary round advancing to the finals this past May.

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