Dongyang Life ACE Branch Rises to Top Tier with Expo-Focused Sales Strategy

Initial Premium Income Grows 118%
Young, Male-Centered Organization
Customers Sometimes Transition to Agents

Insurance sales are broadly divided into sales to acquaintances and general sales. Sales to acquaintances have limitations after a certain period, so discovering new networks is an important challenge faced by all insurance salespeople. The ACE branch of Dongyang Life Insurance is enhancing its sales capabilities by participating in various events such as financial technology expos and prenatal expos, communicating with visitors, and building new networks.

Located near Seolleung Station in Gangnam-gu, Seoul, the ACE branch employs a sales strategy specialized for expos. Through this, the first-year premium income, one of the key indicators of insurance sales, grew by 118% year-on-year as of last October. The 25th-month contract retention rate, which evaluates how well existing contracts are managed, has been steadily maintained at around 93.2%. This figure significantly surpasses last year's overall average of 60.7% for life insurance companies.

The achievements of the ACE branch are driven by Branch Manager Na Hyun-gyun, along with four managers and 50 FCs (Financial Consultants). Manager Na demonstrates outstanding leadership not only in sales but also in recruiting.

From January to November this year, the ACE branch ranked 4th among all 51 branches under the Dongyang Life FC Sales Headquarters in appointing new FCs. The organization has also achieved nearly 40% growth based on currently active FCs.

Manager Na was first appointed as a Dongyang Life FC in May 2009 and was promoted to branch manager for the first time in May 2015. This year, he was promoted to ‘L5,’ the division head. L5 is the highest rank in Dongyang Life’s ‘L (Leader) system,’ which supports growth through the selection of excellent sales personnel. As of this month, only about 5.8% of all branch managers (51 people) at Dongyang Life hold this rank.

Regarding his achievements, Manager Na said, “The advantage of sales through expos is meeting young couples and guiding them on essential products such as children’s insurance and health insurance, contributing to their ability to create future education funds for their children through financial planning.” He added, “We are making every effort to ensure complete sales through active use of IT functions like electronic applications and thorough guidance.” He continued, “Starting with children’s insurance sales at expos and making various efforts such as upselling marketing for health insurance seem to have yielded good results.”

The average age of FCs and managers at the ACE branch is 41. Male managers and FCs account for 53% of the team. While the insurance industry’s female FC ratio is approaching 90% and the average age is nearing the 50s, the ACE branch is male-centered and younger in age. More than 10 employees who met customers at expos have joined as FCs and are currently working. Manager Na said, “Since most Koreans are insured and many still need to enroll, the demand for FCs remains high. With many young FCs and managers in the branch, a dynamic sales environment suitable for young people aspiring to become FCs to start and build their careers has been created.”

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