ABL Life Insurance's exclusive financial consultants top 3,000; “4,000 next year”

\ \ [Financial News] ABL Life Insurance Co., Ltd., an affiliate of Woori Financial Group, has more than 3,000 exclusive financial consultants (FCs). As general agencies (GAs) gain influence in the insurance sales market, the company appears to be stepping up efforts to strengthen the competitiveness of its exclusive channel.
According to ABL Life Insurance Co., Ltd. on the 22nd, the number of registered exclusive FCs surpassed 3,000 as of early this month. The headcount rose from 2,528 at the end of the first quarter to 2,800 at the end of July, then increased by around 200 again in just over two months.
Growth in the exclusive channel appears to have accelerated since CEO Kwak Hee-pil took office in July last year. At an information session last December for “Great Growth,” an organizational innovation program for the FC channel, the company set a target of reaching 4,000 FCs by 2027.
ABL Life Insurance Co., Ltd. is also focusing on strengthening its training and operating systems to help FCs settle in and improve their productivity. This year, it opened training centers in four regions nationwide to support training for new recruits. It created the position of training manager and introduced an FC instructor program to provide field-oriented training.
The company has also strengthened its compensation and career systems. It offers opportunities to increase income, backed by commission rates that are among the most competitive in the industry. It has also laid the groundwork for FCs’ long-term growth by setting out career paths at each stage, including the role of business-owner-style branch manager. The cumulative FC retention rate for the first half of this year was 75.1%.
ABL Life Insurance Co., Ltd. CEO Kwak Hee-pil said, “This is an achievement created together by FCs and employees who have worked to help customers lead better lives on the front lines closest to them.” He added, “We will continue to expand support, including training, compensation and career development, so FCs can grow into professional financial consultants.”
[email protected] Kim Tae-il Reporter