Samsung Life Insurance Elevates Consumer Protection Office... Samsung Fire & Marine Insurance Establishes Digital Headquarters

Samsung Card Establishes New Financial Business Division

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance and other Samsung financial affiliates have carried out organizational restructuring to strengthen digital capabilities and roles for consumer protection.

According to the insurance industry on the 11th, Samsung Life Insurance elevated the Consumer Protection Team to the 'Consumer Protection Office' directly under the Chief Executive Officer (CEO) to accelerate customer-centric management.

Samsung Life Insurance has faced legal disputes related to consumer protection issues such as cancer insurance and immediate annuity conflicts. Especially with the Financial Consumer Protection Act set to be enforced from next year, it is interpreted as the CEO’s intention to personally oversee consumer protection matters and manage consumer satisfaction.

Additionally, to secure future competitiveness, the Digital Business Division and Data Strategy Team were expanded and reorganized. Last month, Samsung Life Insurance implemented a digital subscription process that conducts contract procedures non-face-to-face and digitally to reduce customer inconvenience and improve insurance planners’ efficiency during the subscription stage, demonstrating efforts to strengthen digital capabilities.

In particular, Samsung Life Insurance consolidated the FC Sales Headquarters, an organization related to exclusive planners (FC), from two units into one. This is interpreted as a move to increase efficiency and strengthen on-site communication. Recently, Samsung Life Insurance established a personal brand system for its FCs under the keyword "Life Financial Expert."

Samsung Fire & Marine Insurance carried out organizational restructuring to strengthen digital capabilities and overseas business operations.

They established a Digital Headquarters to serve as a control tower for activating digital channels. Samsung Fire & Marine Insurance was the first in the insurance industry to introduce a 24-hour sales support system, providing customers with one-stop insurance subscription services regardless of time and place. They have introduced AI insurance underwriting systems, digital ARS, and smart link services.

This year, the Global Business Division, which showed strong performance, will be integrated with the New Business Strategy Team under the Management Support Office. This team will oversee the formulation and execution of overseas business strategies linked to mergers and acquisitions and group synergies.

Samsung Card also carried out organizational restructuring focused on accelerating digital-based business innovation and discovering future growth engines.

Under the Digital Innovation Office, the 'BDA (Biz Data Analytics) Center' and 'IT Department' were organized to create synergy by combining data and digital. Additionally, a Financial New Business Headquarters was established to generate revenue sources such as finance and new businesses, and the Marketing Headquarters unified online and offline marketing channels.

Furthermore, on-site sales such as individual and corporate sales were integrated into the New Sales Headquarters, and 'ESG P' was newly established to strengthen the sustainable management system.

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