Kyobo Life Insurance announced on the 5th that, as of the fourth quarter of last year, its one-year return on principal- and interest-uncertain individual retirement pension (IRP) products recorded the highest performance among the top 15 retirement pension operators by assets under management.
Kyobo Life Insurance has been operating retirement pensions for more than 40 years and has been regarded as a strong player particularly in the defined benefit (DB) segment. By posting industry-leading returns in the IRP segment, which is managed directly by individuals, the company has reaffirmed its retirement pension management competitiveness that spans both corporate and individual customers.
The background to this performance includes its long-accumulated know-how in managing retirement pensions, specifically: outstanding product selection capabilities; customer-tailored investment consulting expertise; and maintenance and management services aimed at enhancing stable returns.
Kyobo Life Insurance is also maintaining top-tier returns on principal- and interest-uncertain products in both DB-type and defined contribution (DC)-type retirement pensions. As of the fourth quarter of last year, the recent one-year return for the DB-type ranked third (11.93%) and the DC-type ranked fifth (22.24%) among the top 15 operators by retirement pension assets.
Kyobo Life Insurance is likewise focusing on customer-tailored consulting in the operation of IRP- and DC-type retirement pensions. Retirement pension specialist financial planners (FPs) conduct one-on-one consultations to analyze each individual’s investment propensity and present customized portfolios. Even after enrollment, the company offers maintenance and management services that propose asset allocation and rebalancing in response to changing market conditions, as a strategy to improve returns for individual customers.
Its digital-based investment support also stands out. In 2021, Kyobo Life Insurance became the first in the insurance industry to introduce a robo-advisory service for IRP- and DC-type subscribers and has continually advanced the service since then. By providing reports on financial market trends, recommended funds, and portfolios tailored to investment propensity through non-face-to-face channels, more than half of IRP- and DC-type subscribers who currently manage performance-based assets are using this service.
Moon Youngmi, Head of Corporate Business Division at Kyobo Life Insurance, said, "Kyobo Life Insurance has built a virtuous cycle that links investment strategy formulation and execution to performance improvement through its strong product provision capabilities and customer-tailored consulting," adding, "Going forward, we will continue to identify products that can enhance customer returns from a long-term perspective, and provide differentiated retirement pension consulting services by closely analyzing investment conditions and objectives."
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