Shinhan Life Executes Organizational Restructuring and Executive Appointments to "Strengthen GA Competitiveness"

Shinhan Life announced on the 27th that it has carried out an organizational restructuring and executive appointments. This is the first personnel move by CEO Lee Young-jong, who took office in January.

As part of a company-wide business innovation strategy, Shinhan Life reorganized its structure from 13 groups, 16 headquarters, 72 departments, and 13 teams to 11 groups, 15 headquarters, 69 departments, and 20 teams to ▲ secure differentiated competitiveness in the GA channel ▲ gain momentum to expand the customer base ▲ strengthen customer experience innovation and product marketing.

The B2B (business-to-business) business group established a new GA Marketing Team responsible for market research and analysis, deriving marketing points, and on-site training to secure differentiated competitiveness in the corporate insurance agency (GA) channel. Additionally, the GA Sales Support Team and GA Risk Management Team were newly organized to establish a system for not only sales support but also organizational management and contract monitoring to ensure soundness.

The Customer Strategy Group was renamed the Marketing Group and reorganized departments focusing on core business areas and functions for company-wide DB process operation and market creation from the perspective of expanding the customer base.

The Customer Support Group established a new Customer Experience Headquarters to strengthen the completeness of customer-centric services, consisting of the Customer Service Team, Digital Platform Team, and Customer Contact Operation Team, to establish a standardized customer service system and oversee customer experience innovation strategies.

The Product Group incorporated the Underwriting Team, previously under the Customer Support Group, from the perspective of optimizing loss ratio management. A new Product Marketing Team was established to formulate marketing strategies such as market research and product offerings, expanding its role as a product gateway.

To reinforce ethical compliance management policies, a Compliance Management Team was established separately from the Compliance Monitoring Team under the direct supervision of the CEO. This team is responsible for establishing collaboration systems related to company-wide internal controls and operating accountability structures in accordance with amendments to governance laws.

A new Service Recovery Team was created under the Consumer Protection Team to proactively prevent and improve customer complaints, thereby strengthening consumer protection policies.

In executive and managerial appointments, the focus was on selecting talented individuals with ability and potential based on meritocracy principles, regardless of background, education, gender, or age.

Department heads who achieved significant results in achieving company goals or demonstrated excellent management skills in each business area were promoted to executives, and female leaders were balanced and actively positioned to fully demonstrate their capabilities.

Among the four newly appointed executives, two are women, increasing the proportion of female executives from 4% (1 person) last year to 13% (3 people) this year. The number of female managers, including department heads, also rose significantly from 18 last year to 24.

The average age of executives is 49, and the average age of team leaders is 45, similar to last year.

A Shinhan Life official said, "This personnel move aimed to maintain consistency in fostering leadership that prepares for the future while accelerating the execution speed of the Top 2 strategy. We plan to do our best to support the newly appointed leaders in injecting new vitality into the organization and achieving the 2024 strategic goals together with employees."