[New Year Address] Kyobo Life Chairman Shin Chang-jae: "Actively Promoting Financial Consumer Protection and AI Transformation"

Shin Chang-jae, Kyobo Life Chairman, Announces Plans in '2026 Kickoff Address'
"Financial Consumer Protection Is the Active Realization of the Life Insurance Spirit"

Shin Chang-jae, CEO and Chairman of the Board of Directors at Kyobo Life Insurance, emphasized that this year he will focus on financial consumer protection and the transition to artificial intelligence (AI).

On January 2, through the '2026 Kickoff Address,' Shin stated, "Protecting financial consumers by ensuring complete insurance enrollment, full maintenance, and fair claims payment is the active realization of the life insurance spirit," adding, "We must take the lead in financial consumer protection to guarantee customers' complete security."

He continued, "We must break away from unhealthy business practices such as incomplete sales or replacement contracts that harm customers," and stressed, "A system must be established to prevent financial consumer complaints and to respond swiftly when complaints arise."

Shin Chang-jae, CEO and Chairman of the Board of Directors at Kyobo Life Insurance. Kyobo Life Insurance

Shin explained, "We need to effectively convey the value of customer protection at each stage throughout the entire insurance period, from enrollment and contract maintenance to claims payment," and added, "The most important value an insurance company can provide to customers is to protect them against future adversity."

Regarding this year's outlook for the domestic insurance industry, Shin expressed concerns that the decline in premium growth rates, as well as a slowdown in growth and profitability, will become more pronounced. He said, "Some companies and general agencies (GAs) are engaging in reckless competition to recruit agents, further muddying the market," and emphasized, "We must expand the number of outstanding financial planners (FPs) who can truly deliver customer protection, thereby achieving growth in our exclusive face-to-face channel."

Shin also mentioned the need to quickly establish a foundation for promoting 'AI Transformation (AX).' He stated, "To actively respond to the recent AX trend, we have expanded and reorganized our AI division," and added, "We will pursue improvements in customer experience, cost reduction, and work efficiency by utilizing AI technology throughout the entire insurance business value chain." He further noted, "AX is more than simply adopting new technology; it fundamentally transforms the organization's work culture," and emphasized, "We will also improve systems and programs so that an innovative culture suited to the AX era can take root as part of our organizational culture."