President Kim Chang-soo of Samsung Life Insurance Co. called on the company¡¯s officers and staff to visit their customers at their homes and workplaces in order to listen to what they want out of their life insurance policies to learn from them the values of life insurance products.
The life insurer said President Kim visited three of the company¡¯s life insurance policyholders at their homes to discuss the life insurance products. He first called on one of the three policyholders, Park, at his home in Uiwang, Gyeonggi Province. Before the call, the CEO learned that Park met a Samsung Life counselor at a parents¡¯ meeting, and bought a life insurance product from the counselor, advising his parents and siblings to do the same.
Counselor Suh Hyun-jong and Kim Jong-ho, manager of one of the branches in Uiwang, accompanied the CEO on his visit to Park at his home. The CEO his opinions on the life insurance product he holds to know if he is satisfied with the service, and if there is any need to improve the product and service.
Park told CEO Kim that not many people can buy a life insurance product which is tailor-made for them, adding that a counselor¡¯s job is really what¡¯s needed for the people to buy appropriate life insurance products that can cover their needs. The counselors should remove the false understanding that a consumer has on life insurance, and let them know the true values of the products, Park told the CEO.
CEO Kim also visited President Chung, who runs a chemical raw materials plant for semiconductor display products. He wanted to suspend the life insurance policy he holds, but did not because of the advice he got from a life insurance counselor. CEO Kim thanked him for holding on to his life insurance policy.
Kim told the executives that he learned the true values of the life insurance products through his visits, and he will continue calling on his customers to discover their opinions, and reflect them in the company¡¯s management policies.
CEO Kim took a test for life insurance counselors along with some of the staff in May, earning a ¡°life insurance counselor certificate¡± so he can be qualified to visit the customers directly.
Samsung Life has been strengthening communication between the head office and branches throughout the country under Kim¡¯s management policy, calling for close cooperation between the home office in Seoul and branch offices across the country so that the officers and staff understand what consumers want out of their life insurance policies.
Samsung Life adopted the ¡°Home Office One Part and Jobsite Regional Team System¡± so that the home office can have a sisterhood tie with regional teams on a one-on-one basis. The company learned that the rapid payment of insurance money is one of the things most wanted by consumers; they cut the application time for payment of funds and then the time to payment. The company started to work on streamlining the payment process of funds, check-ups, payment and after service — all involved with the payment of the insurance money from July 2012.
As a result, 50 percent of the insurance money is paid on the same day it is applied for, up from around 32 percent before the company worked on streamlining the process. The payment rate of insurance money within 24 hours of application has been boosted to around 75 percent now, the company said.