Establishing 3 Core Strategies... Achieving Various Goals by 2025
[Asia Economy Reporter Minwoo Lee] NH Nonghyup Insurance has established a strategy for company-wide digital transformation. The plan is to secure 1 million digital customers and reduce work hours by 400,000 through various efficiency improvements.
On the 9th, NH Insurance held a ‘Digital Transformation Innovation Report Meeting’ at its headquarters in Seodaemun-gu, Seoul, where it announced three major digital strategies: ▲New Business Discovery ▲Customer Value Innovation ▲Data-Driven Growth.
Along with this, the company set goals to achieve 1 million digital customers, 5 billion KRW in digital sales, 8 billion KRW in cost savings, and 400,000 hours of work reduction by 2025 through its digital strategy.
To this end, it selected 10 core tasks across 9 digital transformation areas, including ‘Platform New Business,’ ‘Work Automation,’ and ‘Advanced Analytics Environment.’ In particular, this year, it plans to focus on introducing AI-based automatic underwriting, building a group accident insurance platform exclusively for insured persons, and advancing the Cyber Marketing (CM) hybrid channel.
Meanwhile, at the report meeting, the slogan ‘Accelerating Digital Innovation Together! Action BCD!’ was also declared. The acronym BCD compresses the three digital strategies: B (New Business Discovery), C (Customer Value Innovation), and D (Data-Driven Growth).
Choi Moonseop, CEO of NH Insurance, said, "Securing market competitiveness through customer convenience-centered work improvements is the core of digital transformation," adding, "We will accelerate digital transformation company-wide to establish NH Insurance’s unique digital system and become a leading digital insurance company."
Choi Moon-seok, CEO of NH Nonghyup Property & Casualty Insurance (second from the left in the back row), held the 'Digital Transformation Innovation Report Meeting' on the 8th at the headquarters in Seodaemun-gu, Seoul, and introduced the slogan together with employees. (Photo by NH P&C)
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