Imchuwi, CEO Candidate Selection
"Stable Organizational Management Performance"
[Asia Economy Reporter Oh Hyung-gil] Jo Ji-eun, the only female CEO in the insurance industry and the CEO of LINA Life Insurance, has virtually secured her reappointment. Recognized for her quick decision-making and work performance as a female CEO, she is bringing a fresh breeze to the insurance industry, where female executives are rare.
According to the insurance industry on the 5th, LINA Life Insurance recently held a nomination committee meeting and announced that it had selected CEO Jo as the candidate for CEO. The nomination committee explained the reason for the recommendation as, "Despite the difficult conditions due to COVID-19 since her appointment as CEO, she has achieved stable organizational management and business performance, and we intend to pursue reappointment for the continuous growth of the company."
CEO Jo’s final appointment will be decided through LINA Life Insurance’s shareholders’ meeting. Since 100% of LINA Life Insurance’s shares are held by the U.S. company ‘Cigna Chestnut Holdings,’ her reappointment is almost certain unless there is a major unexpected event.
Born in 1975, CEO Jo holds the title of the youngest CEO in the insurance industry. She graduated from Seoul National University’s College of Nursing and completed graduate studies in interpretation and translation at Hankuk University of Foreign Studies. After earning an MBA from Duke University’s Fuqua School of Business, she worked at LG Investment & Securities and MetLife Life Insurance before joining LINA Life Insurance in 2011.
After joining, she worked in the Strategic Planning Team and Healthcare Business Team, then served as head of the Prime Business Division and Operations. In 2019, she was promoted to vice president, overseeing sales, operations, and marketing. In December last year, she succeeded Hong Bong-sung, the chairman of LINA Life Insurance’s board who had served as a ‘long-serving CEO’ for 10 years, and took office as CEO, leading LINA Life Insurance’s innovation.
LINA Life Insurance has the best telemarketing (TM) organization in the domestic life insurance industry. In the first half of this year, premium income reached 1.3465 trillion KRW, a 3.3% increase compared to the same period last year. It is analyzed that TM-centered sales played a significant role amid the non-face-to-face situation caused by COVID-19.
In particular, LINA Life Insurance has recorded the lowest number of complaints in the insurance industry for four consecutive years. CEO Jo has emphasized customer-centric thinking and strict adherence to corporate ethics, presenting a management goal of pursuing ‘good growth.’
Recently, the company is pushing to evolve into a healthcare service company along with its parent group. Global healthcare group Cigna launched the healthcare platform ‘TUNE H’ last month, officially starting its domestic business, with LINA Life Insurance taking charge of Cigna Healthcare’s overall operations.
TUNE H is a ‘personal wellness coach’ service that helps individuals understand their health status and gradually achieve their goals. It especially aims to contribute to the formation of healthy lifestyles among the digitally savvy younger generation.
The launch of a digital non-life insurance company is also a point of interest. In May, the Cigna Group held a board meeting and approved the establishment of a digital non-life insurance company to enter the Korean non-life insurance market. The digital non-life insurer is expected to be established with 100% investment from the Cigna Group. LINA Life Insurance’s new business team is preparing for the establishment of the digital non-life insurance company.
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