ABL Life has launched a company-wide initiative to reinforce its commitment to financial consumer protection.
Specifically, the Seoul-based insurer, a subsidiary of Woori Financial Group, noted that it has designated a monthly Consumer Protection Day.
The insurer held a declaration ceremony recently at its head office in Seoul, attended by CEO Kwak Hee-pil and Chief Consumer Officer Sun Ho-gyu.
As part of the initiative, ABL Life has designated the third day of each month as Consumer Protection Day, aimed at institutionalising best practices.
The company plans to integrate these principles into employees’ daily workflows by implementing system-based prompts and checklists, ABL Life noted.
On designated days, internal systems for employees will display guidelines related to internal controls, regulatory compliance, and consumer protection.
Meanwhile, systems used by insurance planners will feature checklists to ensure full compliance with sales practices and reinforce consumer protection standards.
The declaration ceremony began with opening remarks from the CCO, followed by a commemorative speech from the CEO.
All participants collectively recited a declaration pledging to prioritise the protection of financial consumers’ rights and signed a formal commitment to uphold these principles across the organisation.
“Consumer protection is not a task limited to a single department but a fundamental value that must be practiced across the entire business process – from product development and sales to contract management, claims payment, and complaint handling,” Mr Sun said.
“Through this declaration, we aim to ensure that all employees and insurance planners fully recognize its importance and work together to build a life insurance company that earns lasting trust from customers,” he added, reported The Korea News Plus.