Kyobo Life Launches Company-wide Campaign 'Nice Kyobo'... Reinforcing Consumer Protection

Employees, including Yoon Yeol-hyun, CEO of Kyobo Life Insurance (center in the photo), are participating in the "Nice Kyobo Campaign" challenge relay, pledging to restore consumer trust in insurance, protect the rights and interests of financial consumers, and lead the culture of insurance sales.

[Asia Economy Reporter Oh Hyung-gil] Kyobo Life Insurance is taking the lead to restore consumer trust in insurance and protect the rights and interests of financial consumers, ensuring that the intrinsic value and benefits of insurance are properly delivered.

On the 5th, Kyobo Life announced that it will launch the ‘NICE Kyobo’ campaign to establish a consumer-centered insurance sales culture through full subscription practice and proactive customer service.

‘NICE Kyobo’ is an acronym derived from Needful (providing what is necessary), In time (offering products and services promptly), Careful (considerate and caring), and Emotional (engaging emotionally), reflecting Kyobo Life’s commitment to prioritizing customer trust.

Recently, the Financial Consumer Protection Act (FCPA), which strengthens the responsibilities and duties of financial companies, was passed and is set to be enforced in March next year, highlighting the growing importance of consumer protection.

In this changing environment, Kyobo Life planned this campaign to practice proactive consumer protection at every stage of insurance subscription, maintenance, and payment, aiming to lead the industry.

The headquarters will support the practice of full subscription in the field by improving various systems and processes, while the field will actively implement key initiatives such as ▲Understanding the FCPA ▲Adhering to the three basic principles ▲Accurately explaining coverage details.

In particular, the ‘Adhering to the Three Basic Principles’ is a core practice for protecting insurance consumers, including ▲Mandatory related education ▲Strengthening checks on handwritten application forms and explanation obligations ▲Systematizing the delivery of application documents to actively support consultants’ full subscription efforts.

A Kyobo Life official said, “Strengthening consumer protection is a natural phenomenon resulting from the rise in social standards and an inevitable situation toward an advanced society. The NICE Kyobo campaign is the realization of customer-centered management to proactively respond to these changes and elevate customer protection capabilities to the next level.”

Kyobo Life will also conduct the ‘NICE Kyobo Challenge,’ pledging to practice a consumer-centered insurance sales culture, similar to socially impactful campaigns like the ‘Ice Bucket Challenge’ and the ‘Thanks Challenge.’ Participants record videos performing gestures symbolizing respect and love for customers and post them on social networking services (SNS), with the next participant continuing the relay.

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