Shin Chang-jae, Chairman of Kyobo Life Insurance, "We Must Achieve Innovation Comparable to Big Tech"

[Asia Economy Reporter Dongwoo Lee] Shin Chang-jae, Chairman of Kyobo Life Insurance, urged accelerating the pace of digital transformation and achieving marketing innovation comparable to big tech companies at this year's management strategy meeting.

According to Kyobo Life Insurance on the 9th, Chairman Shin mentioned the digital transformation across industries due to the COVID-19 pandemic and the rapid expansion of the platform economy during the management strategy meeting.

Chairman Shin stated, "Big tech and platform companies are entering the insurance and healthcare markets, and traditional financial firms and platform companies are cooperating while competing," adding, "To secure competitiveness beyond big tech, both offensive and defensive strategies are necessary."

He further added, "We must actively pursue new businesses utilizing digital technology while innovating the core business processes of the insurance business."

Chairman Shin Chang-jae said, "If sales is a company-centered selling technique, marketing is about creating a customer-centered selling system," emphasizing, "Through demand-creating marketing, we must strive for sustainable growth and enhancement of customer value."

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