Shinhan Life Insurance
Shinhan Life Insurance declared ‘Compassionate Insurance’ to make the world a better place through the true value of insurance by implementing customer satisfaction management that puts customer values as the top priority. In order to ensure an abundant life for customers, we provide high-quality services and the best insurance products based on the total financial network, while also faithfully fulfilling our social responsibilities by contributing to the neglected neighbors through ‘sharing and shared development’. We will strive to become the most trusted company for our customers by always thinking from the customer’s perspective to realize their dreams and happiness.
Sung Rack Lee CEO of Shinhan Life Insurance
Company Introduction
Shinhan Life Insurance, which was established in March 1990, has continuously achieved stable growth based on Shinhan Financial Group’s total financial network by being incorporated as Shinhan Financial Group’s affiliate in December 2005. We provide a variety of products and services that meet customer needs through diversified sales channels, including face to face channel, telemarketing through the TCM channel, agency marketing and bancassurance channel. Also, we successfully operated the SOHO channel, which is a trusting supporter for independent businessmen, and the on-line direct application channel to increase the accessibility convenience for customers. In addition, we are working towards becoming a new leader in the life insurance industry by implementing the ‘Compassionate Insurance’ to make the world a better place through the true value of insurance and by conducting quality management through customer-oriented sales with zero defects.
Material Issue Map
Major Issues Reported in 2012
Shinhan Life conducted a material issue evaluation to produce reports on areas of interest for various internal and external stakeholders. As material issue evaluation results, we selected 5 Core issues, including ‘developing products and services to increase social values’, and 5 other issues, including ‘supporting safe financial transactions’. The 2012 CSR Report covered various issues, including ‘acquiring customer’s trust on Shinhan brand’, ‘developing products and services to increase social values’ and ‘providing customer-oriented products and services’, while ‘supporting safe financial transactions’ and ‘giving fair performance evaluation and compensation for employee’s were selected as other issues.
Distribution of Economic Value
(Unit: KRW 1 billion)| Employees | Employee salaries/ welfare benefits | 130.5 |
|---|---|---|
| Shareholders, investors | Dividends | 65 |
| Local communities | Social contribution investments | 18.3 |
| Government | Corporate tax expenses | 55.3 |
| Partner companies | Purchase and services | 29.6 |
| Others | Other general administrative expenses | 148.6 |