"Customer Voices Change Policy" ... Samsung Life Insurance Unveils the Insurance Industry's First "White Paper"

[Financial News] Samsung Life Insurance held its second Financial Consumers' Day event this year, following last year's inaugural event. The company also unveiled a white paper detailing its efforts to incorporate customer voices—the first such publication in the insurance industry.
Samsung Life Insurance held the second Financial Consumers' Day event at Samsung Financial Campus in Seocho on the 17th under the slogan, "Keeping Our Promise to Protect Customers, Building a Future on Trust." The company established Financial Consumers' Day for the first time in September last year and held its inaugural event before organizing this year's second edition.
About 200 employees, consultants and customer panel members attended the event.
The event drew particular attention with the presentation of Samsung Life Insurance's "Voice of the Customer" White Paper, the first of its kind in the insurance industry. The comprehensive report outlines the company's consumer protection initiatives and key achievements based on customer feedback. It includes the consumer protection framework, an analysis of voice-of-customer categories and examples of policy and service improvements, as well as major consumer protection activities.
Nine employees and consultants who took the lead in consumer protection were selected as "Consumer Protection Heroes." The initiative aims to identify cases in which employees and consultants protected customer rights at points of contact with customers, supported vulnerable groups and helped prevent financial harm, thereby spreading a customer-centered management culture throughout the organization.
The company also introduced the achievements of the Consumer Rights Protection Committee, an in-house advisory body. Since 2018, Samsung Life Insurance has operated the committee, which comprises outside experts from academia, the legal field and the medical sector, among others. The committee reviews major issues related to consumer rights and supports decision-making from the customer's perspective.
A total of 198 agenda items have been submitted to date, with 118 ultimately accepted. This year, nine out of 10 proposals were accepted, which was seen as further strengthening customer-centered decision-making.
Starting on the 18th of this month, Samsung Life Insurance will run Consumer Protection Week as a follow-up campaign to Financial Consumers' Day. From the 19th to the 20th, it will also operate a voice phishing prevention booth with Seocho Police Station at the Seoripul Music Festival in Seocho District, Seoul. The booth will offer consultations, assistance with installing security applications and a phishing voice experience program.
The company also plans to provide financial fraud prevention education for older adults in partnership with local welfare centers, along with on-site consumer protection training for general agencies (GAs) that have signed memorandums of understanding (MOUs) with the company.
A Samsung Life Insurance representative said, "Consumer protection is the starting point for all our work and decision-making," adding, "We will listen carefully to our customers and turn their voices into meaningful changes in policies and services."
[email protected] Kim Tae-il Reporter