KYOBO LIFE - KOREA'S 3RD LARGEST LIFE INSURANCE PROVIDER

Quick look at Kyobo Life Insurance
#3
largest life insurance provider in South Korea
20,500
Financial Consultants
implemented
June-July 2014 and April-June 2015

results overview

50%

administrative time

30%

delivery costs

Kyobo Life Insurance uses TouchHub Central to save its sales team time, and the company money

Kyobo Life Insurance did two separate implementations of TouchHub Central. Prior to the first implementation, which was done over a 6-week period between June and July 2014, Kyobo Life Insurance had books, music, movie tickets, email, and DM (direct marketing) channels for non-face-to-face-contact with customers. The TouchHub implementation added POP (Point of Purchase) automation.

Kyobo Life Insurance services many small and medium sized businesses. These business owners need to produce POP on a regular basis for sales activities such as specials and advertising new products. Their needs aren’t met by normal stationary supply stores, so they go to print shops that specialize in POP. This ends up costing them 10,000-15,000 Korean won (approximately $10-$15 USD) per print. This gets expensive very quickly.

By implementing TouchHub Central, Kyobo Life Insurance was able to bring this cost down to 3,000-5,000 Korean won (approximately $3-$5 USD) per print for their customers. TouchHub provided more than 200 POP templates for small and medium sized business owners to use for sales activities, and they fully automated the production, shipping, and delivery process. TouchHub also provided cloud-based tracking. Two months after implementation, small and medium sized business owners had printed over 15,000 sheets of POP material through TouchHub.

During Kyobo Life Insurance’s second implementation of TouchHub Central, carried out between April and June 2015, they expanded the number of non-face-to-face contact channels they used by adding a Courier Service, 3PL (third party logistics), and Mobile Vouchers.

Prior to implementing TouchHub, Kyobo Life Insurance had difficulty implementing a mobile voucher program, because of the strict regulations surrounding the financial industry and customer information security. It is much harder to keep customer information secure when you are working with the promotional goods supplier, the logistics company, and the individual delivery person to make sure that an order is completed. TouchHub puts all of those vendors in one place, automates the process, and keeps customer information safe with its own SSL and SHA-2 256 bit encryption.

By working with MindwareWorks to implement TouchHub, Kyobo Life Insurance cut their costs by 30%.

* The results presented in these success stories are limited to specific situations and business models, data input and computing environments described in this article. Customer experience with TouchHub may vary depending on the business model and technical variables. Actual savings, results, and performance will vary by customer. The only warranties for products and services are set forth in the limited warranty statements and agreements accompanying such products and services. To learn more about how TouchHub can help your business, go to www.touchhub.net for more information.


results overview

After implementing TouchHub, Kyobo Life Insurance was able to offer 4 additional non-face-to-face contact channels. The 4 new channels saved Kyobo Life Insurance between 30% (delivery costs) and 300% (POP) per transaction.

The automation that TouchHub offered cut time spent on administrative tasks by 50%.

administrative time

delivery costs

per POP print
$10-15 $3-5