Fubon Hyundai Life Holds Strategy Meeting "Promoting Sustainable Growth Based on Efficiency"

Jaewon Lee, President of Fubon Hyundai Life Insurance

[Asia Economy Reporter Changhwan Lee] Fubon Hyundai Life announced on the 24th that it held the '2022 Strategy Meeting' and decided to pursue sustainable growth based on efficiency.

At the strategy meeting, emphasis was placed on balancing sales channels and products, including support for corporate insurance agency (GA) sales to expand protection products in the mid to long term. They also called for bold challenges in developing new products, new channels, and new systems.

This year, the plan is to continue sustainable growth through digital expansion, strengthening brand competitiveness, and responding to regulatory changes.

For sustainable growth, the company plans to drive growth in corporate sales and bancassurance (BA) channels, strengthen sales competitiveness in the financial planner (FP) and GA channels, and focus on improving productivity in the telemarketing (TM) channel.

In customer service and sales support, they aim to enhance work efficiency through process innovation such as expanding non-face-to-face and mobile services, and manage sales risks through data analysis.

They pledged to smoothly complete the introduction of the new International Financial Reporting Standards (IFRS17) and the transition to the new solvency regime (K-ICS), and to thoroughly respond to regulatory changes.

Jaewon Lee, CEO of Fubon Hyundai Life, stated, “The insurance industry is required to undergo a paradigm shift including strengthened financial soundness regulations due to the introduction of IFRS17 and K-ICS, and digital expansion,” and urged, “Please respond boldly and challengingly to new businesses for change.”

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