Habit Factory Demonstrates Viability of Full-Time Agents with 13 Billion Won Revenue in the First Half

Signal Financial Lab, a subsidiary of fintech company Habit Factory, currently employs 92 agents, a notable increase from 59 agents in the first half of the previous year(The photo above is not related to this article.)

Habit Factory's subsidiary, Signal Financial Lab, is successfully establishing full-time agents while showing a strong upward trend in revenue. Despite industry skepticism about the viability of full-time insurance agents, the company is demonstrating gradual and stable growth. This post explores Habit Factory's approach to full-time employment for agents and its impact on revenue growth.

Signal Financial Lab, a subsidiary of fintech company Habit Factory, currently employs 92 agents, a notable increase from 59 agents in the first half of the previous year—an increase of 33 agents or 55.9%. The company has also seen its revenue rise, reaching 13 billion won in the first half of 2024, up 149.3% from 5.21 billion won in the same period last year.

Although the insurance industry generally views full-time agents as challenging to sustain, Signal Financial Lab is proving that a stable employment model can lead to revenue growth. Unlike typical agents, who are often commission-based and face variable income depending on sales performance, Signal Financial Lab offers fixed salaries and benefits, including national pension, health insurance, employment insurance, and industrial accident insurance.

The full-time status provides agents with a stable income, removing the pressure to engage in aggressive sales tactics. This stability contributes to higher job satisfaction and retention, helping the company maintain a solid team of agents.

Additionally, Habit Factory has launched 'Signal Care,' a post-sales service designed to improve customer retention rates. Unlike commission-based agents who may frequently change jobs, full-time agents can offer consistent post-sales support, which helps in maintaining client relationships and enhancing contract retention.

An industry expert commented, “While full-time agents may not exhibit rapid growth, their job satisfaction and stable employment provide a foundation for gradual and sustainable growth. However, the guarantee of a fixed salary may attract less motivated individuals, which could impact profitability.”

Habit Factory’s Signal Financial Lab is successfully leveraging the full-time agent model to achieve revenue growth and maintain a stable workforce. This approach highlights the potential benefits of full-time employment in the insurance industry, including improved customer service and agent retention. As the company continues to grow, the success of this model will be closely watched and could influence future industry practices.