KB Insurance Launches 20th Customer Panel to Address Dementia and Long-Term Care Coverage Gaps for Retirees

KB Insurance announced on March 6th that it has launched the 20th cohort of its customer panel, "KB Hope Supporters," to begin activities checking for gaps in dementia and long-term care coverage for customers transitioning into retirement.

At the KB Insurance headquarters in Yeoksam-dong, Gangnam-gu, Seoul, on the 5th, eight new customer panelists and KB Insurance officials are taking a commemorative photo at the launching ceremony of the 20th KB Hope Supporters. KB Insurance

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KB Insurance held the launch ceremony for the 20th cohort at its headquarters in Yeoksam-dong, Gangnam-gu, Seoul, the previous day. Since its inception with the first cohort in 2012, this program has utilized approximately 970 suggestion ideas over 14 years to improve company policies and innovate processes.

The first assignment for the 20th panel is to "assess the demand for dementia and long-term care coverage among customers transitioning into retirement." As average life expectancy increases and the period of old age lengthens, dementia and long-term care have become the greatest burdens for both customers and their families. The eight newly selected panelists will, over the next four months, investigate practical challenges such as cost burdens, care gaps, and lack of information, focusing on risks at each stage of dementia progression (prodromal, diagnosis, severe, and nursing care).

In addition, the panel plans to conduct a comprehensive analysis of preferences for facility-based and home-based care benefits, awareness of government support programs, and insurance premium acceptance, and will propose directions for improving products and services. They will also conduct on-site infrastructure checks for elderly and vulnerable customers at seven customer centers and 30 regional branches.

Starting with the launch ceremony, the 20th cohort will proceed with task execution and review meetings next month, and plans to announce their final improvement suggestions in early May.

Park Mira, Head of the Consumer Protection Division at KB Insurance, said, "The purpose of the 20th cohort's activities is not to expand products, but to identify the coverage that customers truly need as they prepare for retirement," adding, "We will continue to provide differentiated customer value by reflecting the voices of our customers in our policies and services."

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