Ihwanju, CEO of KB Life Insurance, "Agile Response and Differentiation Needed"

Lee Hwan-joo, CEO of KB Life Insurance, is giving a presentation at the '2024 First Half Management Strategy Meeting' held on the 12th at The Raum in Yeoksam-dong, Seoul.

On the 14th, KB Life Insurance announced that on the 12th, it held the '2024 First Half Management Strategy Meeting' at The Raum in Yeoksam-dong, Seoul, with over 80 executives and employees from KB Life Insurance, KB Life Partners, and KB Golden Life Care.

At this management strategy meeting, the strategic slogan "KB Life Insurance Overcoming Change" was announced. This slogan conveys the message of diagnosing the increasingly uncertain future business environment and actively responding to risk factors to achieve change.

Additionally, tasks regarding the 2024 management strategy and mid- to long-term strategic directions were discussed, and external lectures, breakout discussions, and group presentations were held under the theme "Strategy to Overcome Uncertainty: Sensemaking."

For its 2024 management plan, KB Life Insurance identified five core strategies to solidify its position in the market: ▲ deploying CPC (Customer-Product-Channel) strategies to secure Contract Service Margin (CSM), ▲ establishing a stable profit and loss foundation, ▲ improving the customer journey based on digital platforms, ▲ expanding future new growth engines, and ▲ expanding ESG (Environmental, Social, and Governance) management.

By strengthening product manufacturing capabilities to secure CSM, KB Life Insurance plans to enhance channel competitiveness and refine ALM (Asset-Liability Management) to expand a profitability portfolio. It will also advance digital-based infrastructure to increase expertise in sales sites and build a senior life platform as a future new growth engine. Furthermore, the company plans to actively engage in ESG activities to faithfully fulfill its corporate social responsibilities.

Lee Hwan-joo, CEO of KB Life Insurance, stated, "In an environment of crisis marked by increasing uncertainty and intensified competition, agile responses and differentiation are necessary," adding, "Bold execution is required to achieve change." He also emphasized the spirit of one team and urged everyone to unite with the leaders in step with the pace of change.

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