Doyang Life Boram Branch Achieves 86% 13-Month Agent Retention Rate... The Secret Is "Insurance School"

34 Percentage Points Higher Retention Rate Than Industry Average
Effectiveness of Short-Term Insurance Education Program

The Boram Branch of Doyang Life, located in Seowon-gu, Cheongju, North Chungcheong Province, is drawing attention for its outstanding performance and stable organizational management. Over the past year, the Boram Branch has achieved results that far exceed industry averages in key metrics such as agent recruitment, activity rate, and retention rate, and is being recognized as a model branch in the insurance sales field.

Doyang Life Boram Branch agents are taking a photo together. Doyang Life

The branch demonstrated clear growth by recruiting 19 new financial consultants (FCs) in the second half of 2023, followed by 27 new FCs last year. The number of active FCs has also steadily increased, rising from 20 in the first half of 2023 and 25 in the second half of 2023 to 36 in the second half of last year. As of the first quarter of this year, the number has grown to 44.

The retention rate for exclusive agents also surpassed the industry average. According to the Financial Supervisory Service, the 13-month retention rate for exclusive insurance agents was 86.4% as of the first quarter. This is 34 percentage points higher than the industry average of 52.4%. The branch has thus achieved both qualitative and quantitative growth in the size of its agent organization.

The true strength of the Boram Branch is also evident in its retention rates. Both protection-type premium income and contract retention rates have shown a continuous upward trend. In particular, the 25th-month retention rate exceeds 86%.

The secret lies in the Boram Branch's differentiated training program, "Insurance School." Insurance School is a short-term insurance education program first planned and introduced in 2019 by Branch Manager Cho Changhyun. Its purpose is to provide accurate information about insurance through basic insurance education. The program is structured as a free three- to four-day course open not only to those aspiring to become agents but also to general customers interested in insurance. It has been well received by young adults entering society, women returning to the workforce, prospective agents, and those preparing for retirement.

Branch Manager Cho stated, "Insurance School is not just a simple insurance education program, but a venue for sharing the philosophy of Doyang Life and the Boram Branch regarding insurance, as well as a cradle for nurturing insurance talent." He added, "To accurately deliver the essence of insurance to both customers and agents, the program is effective not only for recruiting agents but also for those seeking family insurance remodeling."

The success of the Boram Branch has led to the spread of the Insurance School model nationwide. It has gained such recognition in the industry that other insurance companies have requested lectures on the Insurance School education model. Branch Manager Cho, recognized for his outstanding competence and leadership, was promoted to division head in January and to sales director this month. He conducts Insurance School once every quarter.

A Doyang Life representative stated, "Based on the success of the Boram Branch, Doyang Life plans to continue expanding field-oriented training programs and talent development going forward."