The Posure team poses for a photo after winning third place at the GAIP 2026 international insurance competition in Singapore on Friday. [Samsung Fire provided]
The Posure team poses for a photo after winning third place at the GAIP 2026 international insurance competition in Singapore on Friday. [Samsung Fire provided]

The Posure team, which took the top prize at Samsung Fire's national university risk management competition, has also claimed third place at the GAIP (Global Asia Insurance Partnership) 2026 international insurance competition.

Samsung Fire said Monday that the Posure team — made up of students from Ewha Womans University, Gachon University and Korea National Open University — represented South Korea at GAIP 2026, held Friday at Nanyang Technological University (NTU) in Singapore. The team presented the same proposal that earned them the grand prize at the domestic finals: a lifestyle-zone-based safe-driving rider for elderly drivers.

GAIP 2026 is a competition co-organized by GAIP, a global insurance cooperation body, and NTU to identify future talent for the Asian insurance industry. University teams selected through national qualifying rounds from major Asian countries — including South Korea, Japan, Hong Kong, Indonesia and Singapore — compete by presenting ideas on risk management and innovation in the insurance sector.

The rider proposed by the Posure team uses driving records to map each elderly driver's habitual travel zone, then analyzes mileage, safe-driving levels inside and outside that zone, and changes in driving patterns to apply differentiated insurance premiums. The proposal offers a way to manage the growing mobility risks associated with an aging population by tracking individual shifts in driving behavior.

Aging has become a central challenge for the auto insurance industry. The Insurance Research Institute projects that the number of licensed drivers aged 65 or older will be 1.6 to 3.5 times higher by 2050 than in 2023. Accidents involving elderly drivers are also on the rise: according to the Korean National Police Agency, traffic accidents caused by elderly drivers totaled 45,873 last year, up 8.3 percent from 42,369 the year before.

Samsung Fire said the proposal drew strong praise from judges for offering a Generation Z perspective — from students born between the mid-1990s and early 2010s — on a specialized auto insurance rider tailored to older drivers.

During the competition, the students also attended the AAC (Asian Actuarial Conference) 2026 and visited Samsung Re Singapore, a subsidiary Samsung Fire established to expand into the Asia-Pacific reinsurance market.

"The biggest takeaway was experiencing firsthand how university students from across Asia approached the same theme — innovative risk management solutions — in different ways depending on each country's environment and perspective," the Posure team said.

"It is highly meaningful that ideas developed by university students through our domestic industry-academia collaboration program have been recognized as competitive on the global stage," a Samsung Fire official said. "We will continue to create opportunities for future talent to think about the diverse risks in the insurance industry from fresh perspectives and to gain global experience."

The university risk management competition is an industry-academia collaboration program that Samsung Fire has co-hosted with Postech's Open Innovation Big Data Center and Seoul National University's Securities and Finance Research Institute since 2022. This year's fourth edition drew 421 participants across 120 teams from 62 universities nationwide. Seven teams that cleared the qualifying round advanced to the finals last May.


kimstar@heraldcorp.com