Shinhan Life's 30th Anniversary, Declares the Founding Year to Leap as a Leading Company for First-Class Shinhan

Reflecting CEO Management Policies such as Customer-Centricity, Value Management, and Digital Innovation

[Asia Economy Reporter Ki Ha-young] Shinhan Life Insurance announced on the 23rd that, marking its 30th anniversary, it will focus on securing differentiated competitiveness to leap forward as a top-tier leading company based on Shinhan Financial Group's strategy of 'First-Class Shinhan.'

On this day, Shinhan Life held an anniversary ceremony emphasizing communication with employees through video viewing and events via mobile, in line with the digital era trend and to participate in the social distancing campaign.

Shinhan Life declared 2020 as the inaugural year for its leap to a first-class leading company and set strategic goals to become a company that provides differentiated benefits recognized by customers and employees by strengthening the core competitiveness of insurance.

This aligns with the management policies and aspirations continuously emphasized by President Sung Dae-gyu of Shinhan Life, such as customer-centricity, value management, and digital innovation.

First, the company plans to focus on developing market-leading products and services that enhance customer value. It is preparing sales strategies that analyze customer-specific needs, develop products tailored to customers' perspectives, and improve efficiency considering the characteristics of each sales channel. Additionally, it plans to refine its risk management system by enhancing asset management efficiency based on financial soundness and strengthening the management of soundness indicators such as the new solvency regime (K-ICS) and risk-based capital ratio (RBC).

Furthermore, to strengthen future growth engines capable of creating new value, the company will continue to build insurtech-based systems and infrastructure. It plans to expand its customer base using digital new technologies such as healthcare platforms, artificial intelligence (AI) system construction, and big data utilization, thereby enhancing its digital marketing competitiveness.

President Sung said, "We are here today thanks to the dedicated efforts of our predecessors and colleagues who raised Shinhan Life and laid its foundation," and encouraged employees by saying, "Let us all join hands and run together for the next 30 years, which will be better than the past 30 years."

Since commencing its first business on March 23, 1990, Shinhan Life has grown into a solid company with assets of 34 trillion won. Last year, it was selected as the best company in consumer-centered management and received the Presidential Citation, the highest government award. It has also been consistently recognized for excellent management stability, having earned the highest rating of 'AAA' for 12 consecutive years in the insurance payment ability evaluation conducted by credit rating agencies.

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