Offering Hope for Various Disease Sufferers

Shinhan Life wins the Minister of Health and Welfare Award of the 2011 Sustainable Management Awards

Shinhan Life Insurance Co. won the Minister of Health and Welfare Award of the 2011 Sustainable Management Award for its life insurance policy products under the name "warm insurance."
The catchphrase "warm insurance" was borrowed from "warm finance," the slogan of the Shinhan Financial Group (SFG), and means that the insurance policy would be a friend in deed with its insurance coverage when customers are in need of help and do its best to realize its social obligations.
Officers and staff of the life insurer announced the means to go about realizing the slogan on Oct. 4 and conducted a street campaign, with the company deciding to offer a special life insurance policy for low-income people, disabled, and families with many children, as well as multi-culture families, as the insurance policy comes with discounts in its premium. The company has also decided to charge no fees and make it a savings installment product with favorable interest rates.
The company also plans to expand its social giveaway program by setting aside a small amount of its premium collections on all of its insurance products and earnings from its cancer insurance product to cancer-related social organizations. Part of its earnings in insurance products related to leisure injuries will go to sports organizations, while earnings from funeral expense-related insurance products and Alzheimer's disease will go to organizations for senior citizens living alone. The company will also give away 1 percent each of its Shinhan Life Insurance and Shinhan Love Children Insurance earnings to welfare and environmental organizations.
The company has also decided to extend the period for the matching grant involving the company matching funds donated by its officials and staff to social causes for children and set aside an additional 1,000 won per policy sold and donate the fund to the treatment of such difficult diseases as children's cancer and children's safety and accident prevention education.
Shinhan Life also set up a plan to help its customers who have lost their jobs, closed their businesses or are faced with other economic problems by giving them a temporary delay in the payment of their insurance premiums and interest payments on loans until their conditions return to normal. The company also has developed a new insurance product, "micro insurance," to help the children of low-income families and their other dependents.
The company has also been helping those who suffer from illness, natural disasters, and deadly accidents by paying premiums for various insurance policies that people have abandoned so they can benefit from those insurance policies.
Shinhan Life has also boosted its social service activities with programs like visiting old people's homes, children's welfare homes, and forging sisterhood relations with a number of welfare facilities. New employees have to get an education on social service activities when they first start working for the company.
The company has also created such slogans as "36.5 Love" and "365 Forever" and has been working on the campaign to help isolated neighbors maintain an insurance account each, along with a cash donation movement for officers and staff to give part of their salaries for social causes.
Shinhan Life Insurance Co. is a member of the SFG, which also includes Shinhan Investment Corp.
Because of its advanced management techniques, Shinhan Investment Corp. is being watched with keen interest as a rising securities company in the domestic market. Currently the company is one of the top six in the Korean securities industry, and the company has unlimited future potential created by the vast array of synergy effects the company enjoys under the umbrella of its holding company.
Focusing on stability and profitability as its top concerns, Shinhan Investment Corp. will put forth its best efforts toward maximizing shareholder value as well as fulfilling its social responsibilities as a corporate citizen. In addition, the company is committed to providing creative and innovative services to its customers by reaching beyond the current boundaries of the financial industry and blending a wide variety of financial facilities and functions.
Shinhan Investment Corp. will also solidify its position as an example of a highly successful merger in the domestic securities industry. Under the SFG's sponsorship, it is creating unique and advanced management techniques, as well as successfully combining the banking and securities functions and facilities usage. nw

President Kwon Jeom-joo of Shinhan Life Insurance Co.

Photo on courtesy of Shinhan Life