KakaoPay Insurance, Reappointment of CEO Jang Young-geun Confirmed

[Financial News] KakaoPay Insurance announced on the 24th that it held an extraordinary general meeting of shareholders at its headquarters in Pangyo, Seongnam-si, Gyeonggi-do on the 23rd and confirmed the reappointment of CEO Jang Young-geun.
CEO Jang has been recognized for establishing a user-centered digital insurance model and quickly achieving results by simultaneously driving structural improvement and external growth in a short period since taking office in July 2023. He has proven strategic execution capabilities in the rapidly changing insurance and financial environment, and his leadership in leading the company's continuous growth has been recognized, leading to his reappointment.
Last year, KakaoPay Insurance recorded annual sales of 38.6 billion KRW and insurance revenue of 35.1 billion KRW, growing 4.9 times and 5.4 times compared to the previous year, respectively. In the first quarter, insurance revenue also continued its growth trend, recording 12.3 billion KRW, more than doubling compared to the same period last year.
In terms of products, it has expanded its customer base by consecutively launching over 10 types of lifestyle-oriented products such as mobile phone insurance, driver insurance, lease security insurance, and health insurance. In particular, overseas travel insurance and mobile phone insurance have recorded high performance, driving growth.
In terms of organizational operation, it has adopted an Agile system at the level of an information technology (IT) company, establishing a structure for agile decision-making and service improvement. Recently, it is promoting the advancement of digital insurance based on artificial intelligence (AI).
CEO Jang said, "We will continue to provide essential insurance to users at reasonable prices and innovate the entire process from subscription to compensation more conveniently and efficiently based on AI technology," and "We will constantly challenge and continue responsible management to create a trusted insurance company that grows with customers."
Meanwhile, CEO Jang will continue his position as CEO until December 31 next year.

coddy@fnnews.com Ye Byeong-jeong Reporter