The Daesan Shin Yong-ho Commemorative Association said on the 22nd it selected Ryu Geun-ok, an emeritus professor at Seoul National University of Science and Technology, for the insurance academic research institutional sector and the Korea Insurance Development Institute for the insurance industry development institutional sector as the winners of the 20th Daesan Insurance Grand Prize.
The Daesan Insurance Grand Prize was established in 2006 to carry on and develop the spirit of Shin Yong-ho, founder of Kyobo Life Insurance, regarded as a pioneer of Korea's insurance industry. It recognizes individuals and organizations that have contributed to the development of the insurance industry and insurance academic research fields.
Professor Ryu is a scholar who broadened the theoretical horizons of insurance studies. Serving as president of the Korean Insurance Academic Society and the Risk Management Society, Ryu is credited with proposing theoretical solutions to key issues such as listing life insurance companies and introducing bancassurance, leading to institutional advancement.
The Korea Insurance Development Institute is a key institution that laid the foundation of Korea's insurance industry through fair rate calculation and building basic infrastructure. It recently built the paperless claims service "Silsun24" system successfully and was recognized for leading industry advancement by upgrading a data-driven decision-making framework.
Namgung Ho, chair of the Daesan Shin Yong-ho Commemorative Association, said, "Even amid internal and external uncertainties, the insurance industry has achieved today's growth thanks to the dedicated efforts of those who steadfastly upheld the value of insurance," and added, "I hope this award will serve as a valuable milestone toward a better tomorrow for all insurance professionals who quietly fulfill their duties on the front lines."
The awards ceremony will be held at 6 p.m. on the 30th at the Mozart Hall of the President Hotel in Jung-gu, Seoul. The grand prize winners in each institutional sector will receive 50 million won in prize money and a plaque.