Shinhan Life Insurance Co. held the 2017 Management Strategy Meeting for its key executives and staff totaling some 250 on Jan. 13 at its Cheonan Training Institute in Cheonan, South Chungcheong Province.
At the important meeting, three major strategic tasks for the new year were selected to advance the company’s management value and to achieve the “2017 Innovation,” the company said recently.
The major tasks for promotion this year included the reform of digital finance based on creativity and effectiveness, the reform of products and services centered on customer value, and the reform of its business model through the effective rearrangement of resources.
They agreed that they will first search for reformative products with the base of digital technology and by pursuing the digitalization of the business processes for detailed promotion of the major tasks.
President Lee Byung-chan said he would like to convey to the officers and staff who solidified the company’s future the word of “encouragement” despite a tough environment, so that the company could forge ahead.
“Let’s move ahead with a tough spirit by reforming every sector of the company’s operation to create new growth engines,” he said. In the meantime, the company said on Jan. 14 that it will hold a volunteer initiative and share rice soup on Lunar New Year Day at the Kwanak Senior People’s Welfare Hall in Bongcheon-dong, Seoul, for some 500 senior citizens.
Last year, the company set up the Digital Strategic Team, a first in the life insurance industry in Korea, and experimented with a certification system in a bid to set up a base for the reform of digital finance.
In a bid to strengthen its product marketing system, the company sought to find representative projects to reflect customer needs and market trends. The ultimate goal is to upgrade its customer management system to reform its products and services to boost customer value.
Finally, the company will seek to build up its channel’s core competitive strength by reforming the business model to strengthen its profit base.
In the meantime, Shinhan Life added digital management to the four management plans that established last year to improve all of the company’s processes based on a detailed analysis.
The company’s five-point management plan includes customer satisfaction; partnership management; employee satisfaction management; value management; and detailed management.
A view of Shinhan Life Insurance headquarters in Janggyo-dong, downtown Seoul. (Photos: Shinhan Life Insurance)
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