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| Shinhan Life Insurance CEO Sung Dae-kyu, center, poses with customers and insurance agents during a meeting held in Gyeongju, North Gyeongsang Province, Friday. / Courtesy of Shinhan Life Insurance |
By Kim Bo-eun
Shinhan Life Insurance said Tuesday its CEO will seek to improve communication with customers by holding regular meetings.
"The system is designed for the CEO to be the first to hear from customers and for Shinhan Life to become a leading company in consumer protection," an official said.
CEO Sung Dae-kyu held the first such meeting in Gyeongju, North Gyeongsang Province, Friday.
Sung and other executives discussed new product ideas with customers and insurance planners, the insurer said.
Some of the ideas that were proposed included improving the way agents manage long-term customers, according to the company.
"The initiative is intended on hearing the voices of our 2.92 million customers and we will make efforts so that the opinions are swiftly conveyed to related divisions and reflected in the company's management," Sung said at the meeting.
The CEO will hold a meeting with customers every quarter, visiting various regions.
In September, Shinhan Life also plans to launch a separate group of 100 customers that will forward their views at regular meetings.
They will propose means to better protect consumers including sharing their views about disputed cases.
The move is seen as an effort to better deal with complaints that arise from customers of insurance policies, as the policies tend to be complicated and give rise to mis-selling cases.
The insurance arm of Shinhan Financial Group, meanwhile, has shown decent performance amid toughening conditions for life insurers here.
As a mid-sized insurer, it posted 78 billion won in net profit in the second quarter of this year, an 11.4 percent year-on-year growth.
Most of the major life insurers saw their net profits fall, amid low interest rates and decreasing premium income.
