"Becoming an Insurtech Leader"... Sung Daegyu-style Talent Development

Shinhan Life Recruits 35 Digital Personnel for Training
Serving as Disseminators in Each Department

Sung Dae-gyu, President of Shinhan Life Insurance

[Asia Economy Reporter Oh Hyung-gil] "Let's become the leader in Insurtech (Insurance + Technology)."

Seong Dae-gyu, CEO of Shinhan Life Insurance, known as the 'Insurtech evangelist,' has begun accelerating the cultivation of digital specialists. With his first anniversary approaching next month, this move is interpreted as a clear intention to firmly establish Shinhan Life as a leading insurance company in Insurtech based on Seong Dae-gyu's innovative DNA.

According to industry sources on the 5th, Shinhan Life recently selected 35 employees as 'Data Translators' and provided them with specialized training to nurture digital experts. These individuals will play a role in disseminating digital business strategy directions to each department.

The eight-week training focused on collaboration to apply data analysis techniques in practical work departments. Shinhan Life plans to continuously educate these employees to become data analysis experts and actively utilize artificial intelligence (AI) and big data in their operations.

In November last year, Shinhan Life established an AI and big data-related curriculum in partnership with Pohang University of Science and Technology (POSTECH). This is part of CEO Seong’s plan called the 'Project to Create 100 AI Experts Company-wide.' Shinhan Life intends to operate educational programs for managers in the future to enhance expertise and improve communication and management capabilities with practitioners.

Insurtech is expected to transform all areas of the insurance sector, including product development, sales, underwriting, claims adjustment, and customer service. Not only will online non-face-to-face sales increase, but various data will be collected and utilized for behavior prediction, risk analysis, and more.

In particular, big data is widely seen as a catalyst for the insurance industry, which is currently facing growth stagnation. From insurance contract signing to claims filing, all processes are computerized, accumulating vast amounts of information. For insurers, strengthening capabilities to analyze and utilize big data has emerged as an urgent task.

Based on big data, Shinhan Life has built a customer voice monitoring system and installed a dashboard in the executive offices, including the CEO’s, displaying complaint reception status. This allows real-time supervision and immediate response plans to be prepared and executed as needed.

Since his appointment in March last year, CEO Seong established an Innovation Center directly under the president’s office, emphasizing digital talent development. In his inaugural speech, he also declared his commitment to establishing the status of 'Insurtech leader in the insurance industry.'

This approach aligns with the digital strategy promoted by Shinhan Financial Group. Shinhan Financial is pursuing the recruitment and development of data analysis specialists under the goal of integrating data managed by individual business units across the entire company.

A Shinhan Life official said, "Through industry-academic cooperation with POSTECH, we are nurturing digital talent by receiving coaching and know-how from the best Insurtech experts in Korea," adding, "We plan to strengthen the professional capabilities of practitioners through continuous education."

This content was produced with the assistance of AI translation services.