우리나라 생명보험회사의 경쟁력 강화를 위한 경영전략에 관한 연구 - 기존사와 신설사의 경영 전략 비교를 중심으로 -

A Case Study on Competitive Strategy of Korean Life Insurance

For the last three decades the Korean life insurance industry has been enjoying a quite stable and high growth in a favorable business environment. However, today's external and internal environment of the life insurance industry is changing at a rapid speed, thus making the life insurance industry to face new challenges. The purpose of this paper is to present how life insurance industry has established competitive strategy in the point of view of existing firm and newly operated firm. This paper, firstly, analyzes environment of life insurance industry by dividing it into macro and micro ; secondly, presents the model of case study in view of cash flow of life insurance ; lastly presents the results of the case study of existing firm and newly operated firm separately. Analysis model presents the elements of strategy which are related to underwriting incomes and investment incomes in cash inflow and cash outflow point of view. Each element of the strategy has close relationship and it has a dynamic character where the importance of the strategy changes respect to internal and external environment and the size of the firm. The results of the case study are the following. In the case of existing firm, it has to focus its strategy for growth and also establish a strategy to face and prepare for growing newly operated firm. In the case of newly operated firm, it has to focus its strategy for the survival of the firm.