Shinhan Financial Group Chairman Cho Yong-byoung, Shinhna Life CEO Sung Dae-kyu, and other executives attend a ceremony to officially launch Shinhan Life, the integrated entity of Shinhan Life Insurance and Orange Life, at Shinhan Life headquarters in Jung-gu, Seoul, on July 1. (Photo: Shinhan Life)

Shinhan Life, the integrated corporation of Shinhan Life Insurance and Orange Life, was officially launched on July 1.

As it rose to the fourth-largest life insurance company upon its launch, it is expected to make a seismic change to the Korean insurer rankings.

Shinhan Life held the “Shinhan Life Launching Ceremony” at Shinhan Life headquarters in Jung-gu, Seoul on July 1. In attendance were CEO Cho Yong-byoung of Shinhan Financial Group, CEO of the group company, CEO Sung Dae-kyu and employees.

Since Shinhan Financial Group acquired Orange Life in February 2019, Shinhan Life Insurance and Orange Life have successfully completed their integration.

Now customers of Shinhan Life Insurance and Orange Life can use insurance services under one name, Shinhan Life.

The launching ceremony started with employees, Chairman Cho, President Sung and representatives of executives who together turned on the digital signboard for “Shinhan Life,” which appeared after a ceremony in the lobby of the headquarters.

More than 2,000 executives and employees watched the live broadcast of the ceremony online and shared the historic birth of Shinhan Life.

They unveiled Shinhan Life’s new brand and vision. Along with the brand slogan “Adding Surprise to Life,” Shinhan Life’s TV commercial was released to everyone.

The advertisement combines the brand color contemporary purple, the graphic motif “Passfinder” that pursues a takeoff and virtual influencer “Rozy”, capturing Shinhan Life's brand philosophy that pursues Shinhan Life’s digital sensibility and young and sophisticated image.

“We hope that Shinhan Life will perfectly combine the capabilities of the two companies and provide differentiated financial solutions,” Chairman Cho said during the launching ceremony.

“We look forward to seeing Shinhan Life create ‘One Life’ for customers, ‘New Life’ for the world and ‘Top-Class Shinhan Life’ trusted and supported by all.”

“New Life Adds New Value to Life,” “I am grateful to all of our employees for having made every effort to make Shinhan Life what it is today” President Sung said after announcing Shinhan Life's new vision.

“We will create a company that provides new value for customers and opportunities for employees.”

CEO Sung and other executives delivered 701 boxes of health care kits containing health enhancement foods and nutritional supplements to the marginalized in Dongja-dong, Seoul, expressing their will to steadily create new social value.

Meanwhile, Shinhan Life will launch customized healthcare services by partnering with CJ CheilJedang.

It provides a one-stop service that measures and manages health conditions and recommends appropriate nutritional supplements to customers, helping customers buy them easily.

Other insurers are also competitively launching health-related services such as diet, exercise and braking bad habits. Insurance market experts predict that platform competition will heat up as regulations on insurance companies' healthcare services will be gradually eased.

Shinhan Life announced on July 16 that it will forge a partnership with CJ CheilJedang and start customized healthcare services for customers on July 19.

The service is characterized by not only measuring health-related data, but also providing counseling services that can help actual health care based on test results.

Customers can first measure their heights, body components, blood pressure and stress indices through highly advanced health measurement kiosks.

Based on this data, they receive counseling such as nutrients or exercise for their health with the help of professional nurses.

This service will recommend nutritional supplements that suit customers. If you scan the QR code of a product on your mobile phone, it will be connected to “All That Shopping,” an online shopping mall of Shinhan Card.

That is to say, this shopping service will save customers visits to offline stores. You can buy health functional foods such as nutritional supplements sold by CJ CheilJedang at discounted prices.

“Previously, the services available from insurance companies were limited to giving insurance money to customers when they come down with illness or fall victim to disasters,” President Sung said.

“But in the future, they will be expanded to wider general life care services that take care of customers in their everyday lives so that they will be able to live healthily and happily.”