The family of traffic simulation methodologies has been widely used and become a common practice in transportation engineering by offering capabilities to analyze complex transportation aspects. In terms of safety, the use of microscopic simulation is becoming progressively feasible as well, as several approaches using suitable methodological frameworks quantifying surrogate safety measures become readily available. The present study attempts to review the existing literature findings systematically and to further identify road safety assessment aspects in which traffic simulation is applicable. Through the present systemic review, the schemes of safety evaluation that traffic simulation can be applied were identified. The trend of past research shows promising applications of traffic simulation in several pillars & approaches of improving road safety. Hence, developers of traffic simulation software, practitioners and researchers can be supported in enhancing the existing microsimulation applications by enabling the acquisition of proactive and reactive surrogate safety measures.