Hanwha Life Executes Organizational Restructuring... Expands Autonomy in Insurance, New Business, and Strategy Divisions

Strengthening Competitiveness in Digital New Business

[Asia Economy Reporter Oh Hyung-gil] Hanwha Life announced on the 1st that it has reorganized its structure into three divisions: Insurance, New Business, and Strategy.

The reorganization was carried out to move beyond the saturated insurance-centered business structure and to establish a vision for finance and new strategic plans.

The three divisions?Insurance, New Business, and Strategy?are organized to have maximum autonomy in areas such as personnel and planning, aiming to pursue proactive collaboration and maximize value within each division, while responding swiftly to market changes. Business execution capabilities will be enhanced through responsible management by division and strengthened inter-division cooperation.

The Insurance division required a role change following the separation of production and sales due to the physical division of Hanwha Life Financial Services in April. To strengthen product manufacturing and development capabilities, a Product Strategy Office was newly established to unify product research, maintenance, and support, thereby enhancing differentiated competitiveness.

The New Business division is responsible for discovering, planning, and commercializing various digital-based new businesses to strengthen its position as a digital financial company. Since January, it has been conducting individual projects autonomously under the newly introduced node system.

The digital-based new business area will actively support CIC (Company in Company)-type organizations utilizing Open Innovation (OI), DreamPlus (DP), and other platforms to expedite commercialization.

The Strategy division focuses on establishing future business strategies to increase company value and improving overall management processes.

In particular, a Future Management Committee was newly established under the direct supervision of the CEO. The Future Management Committee serves as a practical company building execution organization, supporting a fast track for early commercialization through collaboration among the Insurance, New Business, and Strategy divisions and external partnerships.

New teams such as Digital Pension and Cancer Specialization TF have also been formed. A Management Strategy Office was established to formulate and execute mid- to long-term strategies for sustainable growth, including company-wide vision establishment, business portfolio improvement, and mergers and acquisitions discovery.

A Hanwha Life official stated, "By granting autonomy to each division, we aim to secure execution capabilities that can lead the financial market and accelerate the commercialization of future growth engines following the separation of production and sales."

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