The Vietnam Actuarial Conference 2018 hosted by Prudential with the attendance of over 200 actuaries and insurance professionals discussing Big Data More insurance businesses are now planning to apply new technologies in their management systems and improve customer services, while many also plan to develop new products to meet market demand as well as diversify insurance sales channels, according to a survey released by Vietnam Report in June last year. In particular, 82.4 per cent of insurance companies said they were building a Mobile Internet development strategy and 64.7 per cent have adopted strategies based on two key factors in Industry 4.0: the Internet of Things (IoT) and Big Data. Disruptive technology Big Data provides new insights from social networks, telematics sensors, and other new information channels. As a result, it allows understanding customer preferences better, enabling new business approaches, product development, and enhancing existing internal models, … [Read more...] about How can Big Data drive the future of insurance?
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At the signing ceremony (Photo: VNA) Hanoi (VNA) – Petrolimex Insurance Corporation (PJICO), a top 5 non-life insurance company in Vietnam, has signed a cooperation agreement with the Republic of Korea’s Woori Bank. The two sides will jointly build added benefits to meet the increasing demand of customers for package insurance. PJICO insurance products will be delivered through the Korean bank’s network system, including motor vehicle insurance, health insurance, and property insurance. Woori Bank is a leading Asian bank and the oldest of its kind in the RoK with 119 years of operation and 410 branches in 25 nations. PJICO is a member of Petrolimex with 23 years of establishment and development. -VNA … [Read more...] about Vietnam non-life insurance company partners with Korean bank
The Hanoitimes - Domestic non-life insurance companies expect the additional investment capital will help them expand distribution networks and enlarge market shares in the prosperous but competitive market. Bao Long Insurance Corporation has so far approved a plan to increase capital through share issue, with priority for foreign investors. Accordingly, the company’s capital will increase from the current VND600 billion (US$25.53 million) to VND1 trillion (US$42.55 million). Currently, Saigon Commercial Bank and Eximbank are two large shareholders of Bao Long, holding 81.1 percent and 6.51 percent of the insurer’s charter capital, respectively. Bao Minh Insurance Corporation gets investments from France’s AXA Insurance Shareholders of AAA Assurance Corporation have also planned to issue shares valued at VND310 billion (US$13.19 million) for capital hike after getting a nod from the Ministry of Finance. AAA’s board of directors expected the issue will be … [Read more...] about Non-life insurance companies in Vietnam open doors for more investments
Clients study Liberty Insurance’s products. — VNS Photo Liberty Insurance has been named among the top 10 non-life insurers in Viet Nam for 2018. It is also the only limited liability company and the first 100 per cent foreign direct investment company to be ranked in this list, according to independent research compiled by Vietnam Report. Insurance firms were selected based on financial capacity, media credibility and client satisfaction. “Vietnam Report’s research shows the new trends in the insurance industry; technology, product development and networks. This aligns perfectly with the strategic vision Liberty has been developing to optimise product and service experience for our customers," the company said in a statement. Liberty Insurance is a member of Liberty Mutual Insurance, a Boston-based diversified global insurer established in 1912. As of December 31, 2017, Liberty Mutual Insurance had US$125.6 billion in consolidated assets and $38.3 billion in … [Read more...] about Liberty Insurance ranks in top 10 best non-life insurance companies in 2018
Bicycles presented to pupils (Photo: PANO)Additionally, AIA provided two sets of computers to the Dong Hoi SOS Village. According to Mr. Wayne Besant, AIA General Director, through the program, the AIA wants to share love and bring presents to disadvantaged children in Vietnam. “We are glad to work with the National Fund for Vietnamese Children to disseminate information for raising social awareness on the protection of child rights, and joining hands to help people live longer, healthier and better,” he said. In 2018, 12 events of the program are expected to be held across the country, with some 2,700 bicycles and 100 life insurance contracts (worth VND20 million each) to be presented to disadvantaged children./. Compiled by BTA … [Read more...] about Insurance company assists disadvantaged children in Quang Binh