Orange Life Strengthens FC Channel with Introduction of 'New Sales Model'

Orange Life announced on the 30th that it will introduce a 'New Sales Model' starting next month to strengthen its Financial Consultant (FC) channel.

[Asia Economy Reporter Oh Hyung-gil] Orange Life announced on the 30th that it will introduce a 'New Sales Model' starting next month to strengthen its financial consultant (FC) channel.

First, the ranks for FCs and branch deputy managers have been expanded from 2 levels to 4 levels, allowing promotions based on sales performance and recruiting results. In addition to recruitment commissions, income sources have been diversified by adding development and subordinate management fees.

Also, FC fixed costs will be minimized and converted into operating expenses and commission funds. The rent savings from introducing smart offices will be additionally supported as branch operating expenses, and will also be used to raise the minimum commission rate.

The digital-based FC activity management system (AiTOM) has also been upgraded. A new product containing "the coverage customers want" in one product will be introduced. The FC training program has been strengthened to establish a head office-field linked education system.

This model will first be introduced at 15 branches, and after a review process, it will be implemented at all branches from the second half of the year.

Jung Moon-guk, CEO of Orange Life, said, "The New Sales Model is the result of innovative considerations on the essence of the insurance industry, including channels, to respond to changes in the insurance environment such as low growth and market saturation," adding, "We expect it to be a win-win model for the company, planners, and customers."

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