Korea Insurance Research Institute Holds Research Exchange with St. Gallen Professor Martin Eling on AI and Autonomous Vehicle Risks

Advancing research collaboration on insurance and legal frameworks for emerging risks, including accident liability and cyber risks

The Korea Insurance Research Institute said on November 9 that Martin Eling, director and professor at the Institute of Insurance Economics (IVW-HSG) at the University of St. Gallen in Switzerland, visited the institute on November 7 for a research exchange.

Martin Eling, director of the Institute of Insurance Economics (IVW-HSG) at the University of St. Gallen and a professor, visited the Korea Insurance Research Institute in Yeouido, Yeongdeungpo-gu, Seoul, on the 7th, where he posed for a commemorative photo with Kim Heonsoo, president of the institute. Korea Insurance Research Institute

The visit was arranged to share how the insurance industry can respond to emerging challenges as new risks, including artificial intelligence (AI), cyber risks and autonomous vehicles, become more widespread, and to explore ways for the two institutions to collaborate on research.

Founded in 1949, the Institute of Insurance Economics at the University of St. Gallen is a leading European research and education institution in risk management and insurance. It has served as a bridge between academia and industry through research on the insurance sector, executive education for insurance professionals and the operation of industry-academia networks.

The institute works closely with major insurance companies and regulatory authorities in Europe, including those in Switzerland and Germany. It has also earned international recognition, receiving multiple research and education awards from the American Risk and Insurance Association (ARIA).

Professor Eling, who heads the institute, is a leading scholar in insurance management and insurance economics. His research covers a wide range of topics, including the insurability of cyber risks, insurance regulation, microinsurance, pensions and healthcare. He has served as director of the Institute of Insurance Economics and professor of insurance management at the University of St. Gallen since 2011, and has received multiple research awards from organizations including ARIA and the National Association of Insurance Commissioners (NAIC).

During the visit, Professor Eling met with President Kim Heonsu, Vice President Jung Sunghee, and researchers from the Insurance Law and Regulation Research Center and the Global Research Center to discuss how the insurance industry should respond to new risks in the AI era. As the spread of AI increases demand for coverage against emerging risks, they held in-depth discussions on the development of insurance products in the Korean and European markets and the challenges facing the insurance industry.

President Kim and Professor Eling agreed that there are many areas for collaboration in insurance research on new risks and decided to continue working together. The two institutions plan to continue discussions on various forms of cooperation, including researcher exchanges, joint research and academic events.

The Korea Insurance Research Institute said, "We expect this exchange to broaden the foundation for international cooperation in research on insurance systems that address new risks and to provide an opportunity to incorporate Europe's experience into domestic policy discussions."

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