Kyobo Life Insurance Restructures Organization, 'All In on DT'... "Realizing Sustainable Customer Value"

Focus on 'Digital Transformation'... Expansion and Reorganization of DT Support Office
Changes to Strengthen Mid- to Long-Term Sustainable Management

[Asia Economy Reporter Ki Ha-young] Kyobo Life Insurance has carried out an organizational restructuring to pursue sustainable management through digital transformation (DT). This reorganization demonstrated a strong commitment to DT.

On the 14th, Kyobo Life Insurance announced that it had reorganized its structure to internalize digital DNA throughout the organization and to realize new sustainable customer value.

This organizational restructuring by Kyobo Life Insurance was made to strengthen its position as a life insurance company leading change and innovation amid the acceleration of digital transformation, known as the Fourth Industrial Revolution.

Through this restructuring, the existing Digital Innovation Support Office was expanded and reorganized into the DT Support Office.

Kyobo Life’s DT means not only innovating the company’s business with digital technology but fundamentally changing everything from new business models to work processes, communication methods, and corporate culture. To this end, the expanded DT Support Office will organically operate and manage company-wide digital transformation to maximize customer value and secure future competitiveness.

Several teams were newly established to build new digital-based business models. The DT Promotion Team was created to support company-wide digital business. Under it, the Digital Innovation Support Part was also organized. The Digital New Business Team was renamed the Open Innovation Team to strengthen collaboration with startups and discover new business models.

A Platform Commercialization Promotion Task Force (TF) was also newly formed. It plans to build a “user-centered platform” that customers can access anytime and anywhere, thereby creating new customer value.

To accelerate the MyData business, which is gaining attention as a new growth engine, the Financial MyData Part was established. For digital-based work process innovation, the Big Data Support Team and Artificial Intelligence (AI) Utilization Team were created. The plan is to apply digital new technologies to streamline work processes and other operations with a customer-centric approach. Additionally, the Digital Strategy Part was renamed the Digital Marketing Strategy Part to proactively respond to the changing sales environment.

To internalize digital DNA among all employees and establish a new growth foundation, the Digital Capability Enhancement Part was created within the Human Resources Development Team.

Organizational restructuring was also carried out to strengthen the mid- to long-term sustainable management system based on digital technology. The existing Management Support Office was renamed the Sustainable Management Support Office, and the Management Planning Office was renamed the Sustainable Management Planning Office. Furthermore, under the Sustainable Management Planning Office, a Stakeholder Support Team was newly established to continuously seek synergy with affiliates and explore co-growth plans.

A Kyobo Life Insurance official explained, “This organizational restructuring is a change to focus on DT and perform work more efficiently,” adding, “It reflects our determination to accelerate DT and enhance competitiveness through sustainable management.”

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