The Hanoitimes - Le Bach Hong was deputy minister of Labor, Invalids and Social Affairs between 2005 and 2008. Vietnam state-owned steel company’s former bosses in hot water Vietnam’s police on May 4 launched a criminal prosecution against Le Bach Hong, former deputy prime minister of Labor, War Invalids and Social Affairs cum former general director of the Vietnam Social Security (VSS). Hong is accused of "deliberate violations of state economic management regulations, causing serious consequences." Le Bach Hong, former deputy prime minister of Labor, War Invalids and Social Affairs cum former general director of the Vietnam Social Security. Photo: internet The other three former senior officials are Nguyen Huy Ban, former general director of VSS, and Tran Tien Vy and Hoang Ha, two former chiefs of the VSS’s Finance and Planning Department. Two more accomplices are Nguyen Phuoc Tuong, former head of the VSS’s Finance and Planning … [Read more...] about Vietnam’s former official prosecuted for alleged insurance crime
Internet insurance companies
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?
Traditional life insurance models face uncertainty as changes gather pace, source: Internet As a result of rapid urbanisation, the pull of major cities is stronger than ever with people continuing to flow into them. Additionally, the use of digital technology is peaking in Vietnam as people of all ages are getting used to easily accessible digital applications. However the percentage of people owning life insurance in Vietnam is deemed rather small, which presents a great deal of opportunities for the insurance industry as a whole. According to Clive Baker, CEO of Prudential Vietnam, favourable circumstances exist for growth in the sector, with young, urban based customers who are the most familiar with digital applications being the prime growth market. This demographic in particular also shows an increasing interest in bolstering their assets through investments. Being the first foreign life insurance company to venture into the Vietnamese market, after 19 years of operations, … [Read more...] about Traditional life insurance models face uncertainty as changes gather pace
CMC Telecom introduced its cloud ecosystem at Internet Day 2018 in Hà Nội on Wednesday. — VNS PhotoViet Nam News HÀ NỘI — CMC Telecom has introduced its two Cloud services – Elastic Compute and Elastic GPU – which are suitable for many different consumer segments. Using modern virtualisation technology, multi-layer security and multi-tasking management, CMC Cloud solutions are currently being deployed for many domestic enterprises. Compared to a physical server, CMC Cloud helps customers to cut down on infrastructure investment, initial operation and management costs and wasted time, minimising the impact on production and business operation. Elastic Compute provides Cloud servers to customers who have the need to operate software, websites and data storage. Elastic GPU provides customers exclusive new technology. GPU virtualisation server supports complex mathematical problems such as Machine Learning, AI, video and image analysis and … [Read more...] about CMC Telecom introduces cloud ecosystem
Bamboo Airways and Petrolimex’s subsidiaries sign MoU Bamboo Airways Company Limited, a member of FLC Group, signed a memorandum of understanding (MoU) for co-operation with the Petrolimex Insurance Company (PJICO) and Petrolimex Aviation Fuel Joint Stock Company. The MoU was signed last week in the central province of Thanh Hoa. Under the terms, Bamboo Airways would give priority to use non-life insurance products of PJICO such as airplane insurance, airline liability insurance, machinery insurance and others as well as aviation fuel of Petrolimex. Meanwhile, the two subsidiaries of Petrolimex would give priorities to use airlines services of Bamboo. Speaking at the signing ceremony, Pham Van Thanh, Petrolimex’s chairman, said Petrolimex has been a member of the Joint Inspection Group (JIG), the world-leading organisation for the development of aviation fuel supply standards. "We committed to provide preferential to Bamboo Airways in its earlier … [Read more...] about BUSINESS NEWS IN BRIEF 23/11