![Kim Jeong-hyeon (left), head of the industry support division at the Korea Meteorological Industry Technology Institute, and Kwon Byeong-geun, head of the general and long-term insurance division at the General Insurance Association of Korea, pose for a photo at an MOU signing ceremony held Tuesday at the association's headquarters in Jongno-gu, Seoul. [General Insurance Association of Korea]](https://wimg.heraldcorp.com/news/cms/2026/07/07/news-p.v1.20260707.f681ed9ee9474703a1d290b509086af8_P1.jpg)
The General Insurance Association of Korea and the Korea Meteorological Industry Technology Institute signed an MOU Tuesday to build a comprehensive climate insurance portal integrating meteorological and climate data, the two organizations announced. The signing took place at the association's 16th-floor conference room in Jongno-gu, Seoul.
The agreement comes as natural disasters linked to abnormal weather patterns have grown more frequent, driving demand for insurance-based preparedness and greater use of weather data and statistics. The association had earlier formed a consultative body with major non-life insurers and the Korea Meteorological Administration to promote weather assessment services and develop insurance products based on weather information.
Under the MOU, the two organizations will build an integrated information platform within the association and develop a comprehensive portal combining Korea Meteorological Administration weather and climate data with climate insurance information.
The project is part of the institute's "2026 Meteorological and Climate Data Utilization Support Project." The institute will select an implementing agency to build the portal and cover construction costs, incorporating demand from the insurance industry in the development process.
The portal will automatically determine whether payout conditions for index-based climate insurance have been met and support rapid claims settlement, serve as a data hub through API linkages among the Korea Meteorological Administration, the association and member companies, allow users to look up payout conditions and payment status for wind and flood insurance, and aggregate insurance-specific weather statistics. The organizations said the portal will help consumers better understand climate insurance products, improve access to coverage and support practical preparedness for climate risks.
"Building this portal will significantly strengthen the insurance infrastructure needed to respond to the climate crisis," the association said. "The non-life insurance industry will continue to leverage meteorological and climate data to promote the wider use of climate insurance."
psj@heraldcorp.com
