Korea Life Insurance Association Announces Organizational Restructuring and Regular Personnel Changes to "Respond to Market Changes"

Reorganization into 4 Headquarters, 11 Departments, 1 Office, and 21 Teams

The Life Insurance Association announced on the 28th that it has carried out an organizational restructuring and regular personnel appointments to efficiently respond to market saturation and changes in the technological environment.

The basic directions of this organizational restructuring are ▲establishing a dedicated organization to discover new growth engines (new businesses and new markets) ▲expanding support for digital transformation and new technologies ▲strengthening support for social contribution activities to enhance consumer trust ▲strengthening the association’s overall policy functions and improving work efficiency. The Life Insurance Association’s organization has been reorganized from the previous 4 headquarters, 8 departments, 4 offices, and 20 teams to 4 headquarters, 11 departments, 1 office, and 21 teams.

Kim Cheol-ju, President of the Life Insurance Association.

The Life Insurance Association established a new business support team within the New Growth Support Department, a dedicated organization for discovering new growth engines. This is to effectively support member companies’ entry into new businesses (such as senior care and healthcare) and diversification of revenue bases, as well as to establish and promote the life insurance industry’s mid- to long-term growth strategy.

To support overseas market entry through deregulation of overseas expansion by insurance companies and strengthening overseas networks, the existing Research Team was reorganized into the International Affairs Team.

To utilize new technologies such as generative AI and big data and support digital transformation across the entire insurance value chain, the existing ICT Management Office was promoted to the ICT Support Department, and an ICT Planning Team was newly established.

To fulfill social responsibility and enhance consumer trust through win-win finance and social contribution activities in the life insurance industry, the Social Contribution Team was promoted to a department.

To strengthen the overall response function for policy issues and respond to increasing internal and external legal affairs and regulatory revision issues, the Planning General Team was reorganized, and a Legal Support Team was newly established.

The Management Support Headquarters was reorganized to improve the efficiency of management support functions such as personnel, accounting, and ICT operations.

Regular personnel appointments were also conducted to efficiently operate the reorganized organization. The following are the main points of the regular personnel appointments.

△ Market Support Headquarters Director Cheon Seung-hwan

△ Consumer Service Headquarters Director Park Soon-geun

△ Honam Headquarters Regional Director Hong Seong-hwan △ Social Contribution Department Head Hong Yang-hee △ New Growth Support Department Head Yang Jae-seop

△ External Cooperation Team Leader Ryu Kang-rae △ Disclosure & ESG Team Leader Lee Hyun-woo △ Recruitment Order Management Team Leader Lee Ho-hyung △ Digital Operations Team Leader Woo Soo-seok

△ Strategic Planning Headquarters Director Kim In-ho △ Management Support Headquarters Director Choi Jong-yoon

△ Jungbu Headquarters Regional Director Kim Yoon-chang △ Audit Office Chief Mo Jin-young △ General Affairs Department Head Lee Yong-jun △ Consumer Protection Department Head Kim Chi-guk △ Channel Support Department Head Lee Joo-hak

△ Planning Coordination Department Planning General Team Leader Jeon Seon-gyu △ Planning Coordination Department Financial Accounting Team Leader Lee Sung-chan △ New Growth Support Department New Business Support Team Leader Han Kyung-hoon △ External Cooperation Department Legal Support Team Leader Jo Jeong-myeong △ Channel Support Department Qualification Management Team Leader Kwon Sung-oh △ Public Relations Department Public Relations Team Leader Lee Hoon △ General Affairs Department Personnel Team Leader Ryu Jong-seok △ ICT Support Department ICT Planning Team Leader Moon Ji-hwan △ Jungbu Headquarters Wonju Branch Director Cha Hye-ran