KB Insurance Implements Organizational Restructuring to Establish Division Head-Centered Management System

[Asia Economy Reporter Oh Hyung-gil] KB Insurance announced on the 29th that it has abolished the dual general management system of products and operations and carried out an organizational restructuring to establish a management system centered on division heads.

The organizational system functions from the perspective of customer, product, and channel (CPC) strategy have been strengthened. Decision-making at the division level and internal responsibility management systems have been reinforced, and the CPC Strategy Division and CPC Strategy Headquarters were newly established to expand core business competitiveness and integrate CPC function operations.

The previous structure of 2 general managements, 9 divisions, 25 headquarters, and 140 departments was reorganized into 9 divisions, 26 headquarters, and 141 departments.

Under the CPC Strategy Division, the CPC Strategy Headquarters, Long-term Product Headquarters, and Long-term Compensation Headquarters were placed to establish an integrated operation system for company-wide CPC strategy and marketing strategy formulation/operation, aiming to promote market response and loss ratio improvement.

Additionally, the corporate sales division's organization was rearranged to promote changes in the general insurance portfolio focused on profitability through expanding the SME (Small and Medium Enterprise) market, and an asset management system was established by strengthening asset management planning and outsourcing management functions following group integrated asset operation.

Furthermore, the organization for Environmental, Social, and Governance (ESG) management was also strengthened. An ESG Strategy Unit was newly established to proactively respond to the expanding corporate social and environmental responsibilities trend and to lay the foundation for sustainable management.

Meanwhile, along with this organizational restructuring, KB Insurance also carried out executive personnel changes to achieve performance creation, strengthen expertise, and secure a systematic workforce structure.

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