KDB Life Insurance Restructures Portfolio to Strengthen Third-Sector Insurance Sales

KDB Life Insurance announced on August 21 that it has strategically revamped its third-sector insurance product sales portfolio and has begun structural management to improve product profitability.

Recently, the insurance industry has seen rapid growth in the third-sector insurance market due to factors such as an aging population, increased demand for health management, and advances in medical technology. In response, KDB Life Insurance has designated third-sector insurance as a core pillar of future growth and established a roadmap for launching competitive products.

KDB Life Insurance’s third-sector insurance sales have shown a clear upward trend, recording double-digit average annual growth rates over the past three years. In the first half of this year, the company achieved significant growth compared to the same period last year, establishing a stable sales foundation.

KDB Life Insurance Building. KDB Life Insurance

Since the second quarter, the company has formed a dedicated team to revitalize third-sector insurance, conducting detailed analyses and identifying improvement tasks across areas such as products, sales organization, marketing, underwriting, and systems.

These tasks have been divided into short-term and mid- to long-term objectives, with clearly defined roles and responsibilities for each department and a phased implementation schedule. This transformation at KDB Life Insurance is reportedly being led by Executive Vice President Kim Byungchul, who took office in March.

The company has established a management system covering the entire product lifecycle, from product design to post-sales performance analysis, in order to enhance its ability to manage product profitability. It has also strengthened profitability verification and implemented early warning systems to enable proactive responses.

KDB Life Insurance plans to strengthen its competitiveness by focusing on key sales channels and customer-centric activities, positioning third-sector insurance as its flagship product to enhance both soundness and profitability. Even in a challenging business environment, the company intends to efficiently utilize limited resources and operate programs to boost sales organization loyalty.

A KDB Life Insurance representative stated, "This third-sector insurance sales strategy focuses not only on short-term performance improvement, but also on building a resilient sales foundation that can withstand market changes," adding, "In the mid- to long-term, we will secure a stable volume of third-sector insurance and establish a structure for profitable growth."