Published : Dec. 27, 2011 - 17:57
Prudential of Korea’s headquarters in Seoul
The vision of Prudential of Korea is to become the most trusted company. Instead of becoming the biggest or most profitable company, it aims to be an honest and ethical company trusted by customers.
The life insurance firm believes that the way it can achieve the vision is by keeping the promise it makes to its customers, which is delivery of insurance benefits.
POK is committed to fulfilling the mission of life insurance, which is delivering financial security and peace of mind.
Since its inception in 1989, the company has achieved many “firsts,” in the Korean insurance industry.
When POK started its business in Korea, it introduced the Agency System, Professional Career Agent System, and Life Planners.
In terms of products, it introduced whole-life insurance for the first time in the Korean industry, “Living Needs Benefit” which pays the benefit to help make arrangements for death beforehand, “Funeral Needs Benefit” which can be paid for funeral preparation costs and the Silver Nursing Care rider which pays nursing annuity in case of long-term illness.
POK has maintained the No. 1 position in retention rate, persistency rate and Certified Insurance Consultant ratio for many years.
The insurance industry is intended to provide coverage for customers during their entire lifetimes. So if an insurance salesman who knows his customers well moves to other company, it is hard to maintain good service for a long time. As a result, the insurance salesman cannot guarantee the financial protection of his customers.
POK has been trusted by the customers because its Life Planners, who are the best qualified professionals, stay with their customers at all times and provide the best quality services to them.
In 2011, it proclaimed to grow into comprehensive protection company by strengthening its business in retirement and health, as Korean customers’ needs shift to health concerns and the post-retirement period.
In July, the company introduced policy “Double-Up Health Care”, protection-type policy with an emphasis on health care. In September, it introduced “Age 100 Plus Variable Annuity” to provide post-retirement income and protection.