Samsung Fire & Marine Expands the Horizon of Insurance with BELFOR Korea
Samsung Fire–BELFOR Korea partnership brings insurance services closer to on-site recovery
Faster and higher-quality disaster response enhances customer trust and corporate resilience
Source: Samsung Fire & Marine Insurance
In June 2023, Samsung Fire & Marine Insurance signed a strategic Memorandum of Understanding (MOU) with BELFOR Korea, a global leader in disaster recovery services. The agreement, which aimed to expand insurance support beyond compensation to include disaster recovery, drew considerable attention at the time. Two years later, its tangible outcomes are even more evident.
Through this partnership, Samsung Fire has built a robust infrastructure to respond swiftly and systematically to physical losses and business interruptions when disasters occur. Whereas clients previously had to find and contract recovery companies on their own after an incident, recovery processes are now integrated from the point of insurance enrollment. This has significantly reduced response times and ensured consistency in service quality.
At the time of signing the MOU, a Samsung Fire representative stated, “This agreement marks a meaningful evolution in insurance—from simple compensation to supporting customers’ business continuity and recovery speed. We will continue to expand insurance services that provide practical support from the customer’s perspective.”
Drawing on its extensive experience restoring logistics centers, factories, and hotels, BELFOR Korea has resolved complex corporate disaster situations with high precision and reliability. As a result, corporate insurance has evolved from a passive compensation model into a comprehensive solution encompassing recovery and reconstruction—leading to increased customer satisfaction.
The MOU between Samsung Fire and BELFOR Korea is now recognized as a model response to the question: “What can an insurer do after a disaster?” It has prompted other insurers to explore similar strategic partnerships. Samsung Fire plans to continue refining its recovery protocols with BELFOR Korea and further strengthen its role as a partner in corporate resilience, beyond mere disaster response.
