A String of Awards
Samsung Life sweeps various awards in the areas of service, customer satisfaction
Samsung Life Insurance Co.(President Bae Jung-chung) swept all top customer satisfaction awards in the insurance industry this year, a rare record bringing an award fortune for the Samsung Group affiliate.
Samsung Life said it received the top award in a survey conducted by the Korea Productivity Center on the National Consumer Satisfaction Index in the area of insurance. The award came following the company's Korea Service Quality Index made by the Korea Standard Association for three years in a row. In September, the company won top award in a survey conducted by the Korea Consumer Satisfaction Index made by the Korea Management Association, making Samsung Life a triple award winner this year.
That's not all. The company captured in June this year, the Korea Service Grand Award presented by the Korea Standard Association two years in a row. In May, the company won the top award as the most respected company in Korea award provided by the Korea Management Association. In October, the company won another award, this time from the Women Consumers Association picked as the best corporation and in the following month, the company won the "Korea Advertisement Grand Prize"presented by the Korea Federation of Advertisers Organizations.
The company's string of awards did not come easily. It was the result of a hard drive called, "Customer First Management"started by President Bae. The customer policy office established under President Bae in 2003 has been acting as a consumer advocate reviewing the policies of other departments including the marketing, and product development on the side of customers like in-house NGOs. The CEO also launched the "Q-sign"system, whereby new products will be reexamined before they are marketed and if problems are found, they will not be marketed at the final moment, which created a special customer satisfaction culture.
President Bae replaced the company's anniversary ceremony with the non-defect quality guarantee campaign?with the idea that if customers don't receive satisfaction from your products, your business would suffer, it is not just a matter of receiving customer satisfaction.
Samsung Life has been playing an important role throughout the history of the Korean insurance industry. It has overcome many obstacles and contributed to the growth of the Korean economy as well as the insurance industry by strengthening social security. The company has been the leading company in the Korean financial industry and it is certain that it wouldn't have achieved all of its business objectives without the support of its clients.
The insurance firm currently is developing strong financial and management structure on which to build its core competencies so that it can compete and service in the global arena. It is also creating new businesses in order to overcome the limitations in the saturated domestic insurance market and become a global player. The company is setting up branches in China and India under its 10- and 20-year globalization plan, while also promoting its new investment products in other business sectors through its "Selection and Focus Strategy."Management doesn't think that a business can be a global company just because it is large and generates good profits.
A business can become a global company only after earning the trust of customers by fulfilling its social responsibilities through ethical business practices.
Samsung Life's professional asset managers are some of the most competitive people in the financial industry. Their know-how and information network accumulated in the process of investing nearly 100 trillion won in various investment products throughout the world are what set the company apart from others. With over 530 professional managers, the company has the largest team of asset managers in Korea. They ensure high profits through various vehicles for over 100 different types of asset classes in the seven major areas of investment, such as stocks, bonds, alternative investments, retail finance, real estate, and short-term assets. nw
President Bae Jung-chung of Samsung Life Insurance Co.