Samsung Life Insurance Co., Ltd. history, profile and corporate video

 Samsung Life Insurance Co., Ltd. engages in the provision of life insurance and financial products and services. Its products include juvenile, education and children’s annuity, savings, permanent-life and combination, variable life, health, critical illness, and annuity insurances. It also offers retirement pensions, funds, trusts, and loans. The company was founded on April 24, 1957 and is headquartered in Seoul, South Korea.“

“Samsung Life Insurance History

March 2012 – Proclamation of Business Concept and VisionSamsung Life claimed its goal to reestablish the definition of life insurance and to become a global life partner that is focused on customer’s profit. All process focus will be shifted from the business to the customer. Our goal is to become a global insurance company with 500 trillion KRW in assets by 2020.

May 2010 – Samsung Life goes PublicIn May 2010, Samsung Life executed an IPO to lay down its foundations as a global financial company. With this, our employees began to establish the no-flaw sales system, in efforts to improve quality in step with quantity.

April 2006 –100 trillion KRW in AssetsSamsung Life is the first company in Korea that is not a bank to reach 100 trillion KRW in assets. This was all credited to the company’s efforts since it first reached 1 trillion KRW in assets in 1983, which was also the first for any nonmonetary institution. The numbers reached 2 trillion in 1985, 20 trillion in 1995, finally reaching 50 trillion KRW in 2000.

July 2005 – The Launch of a Collaborative Company in ChinaSamsung Life collaborated with China Airlines to establish China Airways-Samsung Life Insurance Company Limited and began operations in July 2005. This was the first Korean company from among all the life insurance companies in Korea that made it into China. This was the third branch to be opened outside of Korea, after having opened branches in Japan, Taiwan, and Thailand since 2004.

May 1994 – First insurance quality guarantee policy introducedIn 1994, Samsung Life became the first company in the industry to introduce an insurance quality guarantee policy. This renewed the public’s perception about insurances and strengthened our position as an industry leader. It was a part of our effort to help the people understand why insurance is important. The policy was a milestone in Korea’s insurance industry.

January 1971 – Systemization of Business ProceduresIn January 1971, Dongbang Life Insurance introduced a computer room, which was the first for any financial company in Korea. The systemization procedures began by coding the stocks, followed by coding insurances. As a result, in November 1985 branches throughout the nation were equipped with a computer, which was a giant leap in systemizing the company’s data.

July 1963 – A New Beginning as a Part of SamsungIn July 1963 the company merged with Samsung, which was been the company that had pushed Korea forward. Having solid trust with Samsung, Dongbang Life was able to have sustainable growth and became the industry leader.

May 1957 – Dongbang Life Insurance is FoundedDongbang Life was founded upon family values in order to develop and enrich the people and to spread happiness. There was very little awareness about life insurance, but the company made a bold move into the unknown pastures to spread the seed of hope.”

*Information from Forbes.com and Samsunglife.com

**Video published on YouTube by “SamsunglifeBlogs“