KB Insurance CEO Koo Bon-wook: "We Must Find Our Own Identity... Aiming for No.1 in Corporate Value Growth Rate"

2024 First Half Year Management Strategy Meeting Held

Koo Bon-wook, CEO of KB Insurance, is speaking at the '2024 First Half Management Strategy Meeting' held on the 12th.

KB Insurance announced on the 15th that on the 12th, it held the '2024 First Half Management Strategy Meeting' at the KB Insurance Injaenium Training Center located in Jangan-gu, Suwon-si, Gyeonggi Province, attended by about 200 executives including CEO Koo Bon-wook.

The first half management strategy meeting, which began with an external special lecture, proceeded with sharing the 2023 management performance, followed by presentations on the 2024 management plans by division, future environment outlook, and mid- to long-term strategies.

CEO Koo, who took office as the new head of KB Insurance on the 2nd, delivered New Year greetings and congratulations to the newly appointed executives and department heads, and gave a CEO special lecture under the theme of "KB Insurance’s Unique Color." At this event, CEO Koo likened the journey KB Insurance has taken so far and the path ahead to a process of completing a "Masterpiece."

CEO Koo stated, "Since KB Insurance was incorporated into KB Financial Group in 2015, it has established itself as a core affiliate by adopting KB Financial Group’s advanced systems and institutions," adding, "I consider this process as sketching the outline of a masterpiece." He continued, "From now on, it is necessary to find and perfectly combine KB Insurance’s optimal color," emphasizing, "To complete a masterpiece imbued with KB Insurance’s unique color, achieving 'No. 1 in Company Value Growth Rate' and 'Perfect Harmony of Organizational Culture Change and Management' are essential."

CEO Koo defined 'company value' by combining management efficiency indicators such as loss ratio and retention rate, future value indicators represented by new contract service margin (CSM), and customer value indicators such as retained customers and high-quality customers. The goal is to achieve the No. 1 company value growth rate.

As detailed strategies to achieve this, CEO Koo cited ▲ prioritizing customers as the foremost criterion in all decision-making ▲ continuous efforts to strengthen core business competitiveness ▲ pioneering Digital First ▲ promoting a socially responsible company that develops together with the public and society.

CEO Koo emphasized, "The foremost criterion in all decision-making is the customer," adding, "Through the best products and services needed by customers, we must strive to provide the best experience so that KB Insurance’s products and services become the new standard for non-life insurance in Korea."

Furthermore, CEO Koo highlighted the need for comprehensive sales support, such as segmenting customer demands, creating products appealing to diverse customers, and developing underwriting and subscription systems that are easy for the sales family to use.

CEO Koo urged, "For securing KB Insurance’s differentiated competitiveness, all employees must do their best in their respective positions."

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