Samsung Fire & Marine Insurance Proposes 'Super Gap' as New Year's Management Focus

Lee Munhwa, President of Samsung Fire & Marine Insurance

Samsung Fire & Marine Insurance announced on the 2nd that it has set "Rebirth as a Super-Gap Samsung Fire & Marine Insurance" as its management focus for this year.

Samsung Fire & Marine Insurance expects that most advanced countries will face difficulties in improving economic growth rates due to high debt ratios and high interest burdens this year. The domestic economy is forecasted to create a challenging management environment due to entrenched low growth and uncertainty. In this environment, Samsung Fire & Marine Insurance plans to secure competitiveness in various fields to establish itself as a "first mover."

In long-term insurance, it will create sales issues that can lead the industry through rapid market sensing and secure growth momentum based on efficiency. In automobile insurance, it plans to maintain a stable profitable business structure through innovation in expense structure and secure competitiveness with products and channels that are difficult for the industry to follow. General insurance plans to prepare new growth engines by diversifying business areas and offering customized solutions to clients. The asset management division intends to capture opportunities by managing risk factors and improving asset portfolios under the influence of an uncertain macroeconomy. In the digital sector, based on accumulated experience and technology, it plans to innovate into an insurtech company creating new insurance value and expand its territory beyond insurance into domestic and international digital businesses.

Based on its inherent capabilities, the company plans to build a management system connected with customers. It will establish a customer-centric management process and a rapid decision-making system rather than a company-centered one to provide differentiated customer experiences. It emphasized expanding the scope of business beyond insurance to healthcare, mobility, and more, aiming to be with customers in all aspects of their daily lives and to become Samsung Fire & Marine Insurance that customers seek first.

It plans to expand the market through global expansion. Beyond existing overseas business areas, it will build a diverse global business portfolio to secure future growth engines and enhance the stability of management performance.

Lee Moon-hwa, President of Samsung Fire & Marine Insurance, stated, "This year, we will continuously execute and build a dynamic organizational culture that finds the right answers, creating one 'Team Samsung Fire & Marine Insurance' through horizontal and mutually respectful communication," adding, "We will start another new 70 years of successful history."

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