CJ OnStyle Launches 'Shinhan Life' First Product Exclusively on TV Home Shopping

CJ OnStyle will launch the first new product of 'Shinhan Life' on July 1, the launch date of the integrated corporation of 'Shinhan Life Insurance' and 'Orange Life' (Photo by CJ OnStyle).

July 1st Launch of Integrated Corporation 'Shinhan Life' and 'Orange Life'
First Product Broadcast on CJ OnStyle
Online Life Insurance Subscriptions Increased by About 50% Last Year
"We Will Propose Insurance Products That Match Customer Lifestyles and Trends"

[Asia Economy Reporter Yuri Kim] CJ OnStyle will exclusively present the first product of the integrated corporation 'Shinhan Life,' formed by merging 'Shinhan Life Insurance' and 'Orange Life,' on TV home shopping. CJ OnStyle plans to target the growing demand for non-face-to-face insurance subscriptions by partnering with Shinhan Life.

According to the Life Insurance Association, the initial premium (first payment insurance premium) through online channels of life insurance companies surged by 50% compared to the previous year. Industry experts expect the growth of the non-face-to-face insurance market to continue for some time, driven by trends such as the prolonged COVID-19 pandemic, changes in consumption patterns, and the increase in single-person households. In response, insurance companies are strengthening their digital channels. CJ OnStyle also aims to leverage the strengths of its TV home shopping and mobile sales channels to discover and propose insurance products that customers of various age groups truly need.

CJ OnStyle will exclusively launch the 'Shinhan Life Amazing Health Insurance' on its home shopping channel. It will be broadcast live on TV at 7:35 PM on July 1st, the launch day of Shinhan Life. The insurance guarantees diagnosis payments for all cancers, including breast cancer, which has the highest incidence rate among women, and thyroid cancer, which has the highest growth rate. It also covers surgery and hospitalization costs for various diseases and injuries. The product provides healthcare services such as support from caregivers or housekeepers upon cancer diagnosis and refunds both paid and future premiums. Customers who apply during the broadcast and complete a phone consultation will receive a Shinsegae gift certificate worth 30,000 KRW.

The broadcast will also introduce the new integrated corporation 'Shinhan Life' alongside the new product sales. Shinhan Life plans to continuously pursue digital innovation strategies, creating new insurance services available 24/7 on mobile devices, including the AI-based healthcare platform 'Howfit.' It will expand customer touchpoints through various domestic sales channels and accelerate overseas expansion through subsidiaries such as those in Vietnam.

Hyosu Kim, Team Leader of the Financial Services Business Team at CJ OnStyle, said, "The rapidly changing customer consumption patterns and retail industry trends due to COVID-19 are also affecting the consumption methods of financial products such as insurance." He added, "We will diversify sales methods by leveraging the strengths and characteristics of each channel, including TV home shopping and mobile, and propose insurance products that perfectly match changes in customer lifestyles and trends."

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