Prudential Vietnam has recently officially appointed the first new general manager (CEO) of Vietnamese nationality. Since the beginning of the year, this is the third life insurance company with a new CEO.
The new CEO will have new expectations and new strategies. At Hanwha Life Vietnam, with the goal of making Hanwha the most trusted and reputed insurance company in the market, Im Dong Jun, the new CEO and Chair of the Board of directors, said that he would focus on building the company towards customers, putting customers at the centre of all activities.
“We need to take care of our customers more, care about their lifestyle, even our customers’ personal lives to really understand what their needs are. This is very important, especially for young customers the main customers of insurance companies these days,” said Im Dong Jun.
Currently, besides finance and securities, Hanwha Life has plans to expand into asset management in Vietnam market. Im Dong Jun said, the company’s network of financial companies could combine to provide customers with a more comprehensive package of life solutions, instead of simple insurance solutions.
“With our unique strengths, we will provide a comprehensive solution for our customers’ lives, both financial and non-financial, not just insurance. This is also the difference between Hanwha Life Vietnam and other companies in the market,” Im Dong Jun emphasized.
And Phuong Tien Minh, new CEO of Prudential Vietnam shared that the insurance field was the relationship between people, customers, consultants as well as appraisers. Therefore, the factor “people” must always be placed first.
“A strong addition to the human element to increase internal strength and superiority is one of Prudential’s core strategies. Customers this limitless resource will be a supplement to the human element that we have been, always focus on, in all our development strategies,” Minh emphasized.
Along with understanding the market, consolidating internal resources and building the next generation, the commitment to action will be a highlight of the new CEO’s strategy. In fact, that commitment is being implemented by Prudential through products and new, effective technology experiences, typically the first digital healthcare application in Asia Pulse by Prudential has just been officially introduced to Vietnamese users.
“Vietnam’s insurance market is facing great opportunities and in response, Prudential Vietnam will continue to invest in technology, develop healthcare solutions, uphold the core values, and focus on the human element,” Minh said.
In fact, investing in technology is now considered a top priority of all insurance businesses. Therefore, “customer experience based on digital solutions” will probably continue to be a strategy to pursue of life insurance company bosses.
After more than 20 years of establishment and development, besides the traditional model as an agent, Vietnam’s life insurance market is witnessing the strong development of new distribution channels such as Bancassurance, Direct Marketing, Telemarketing, and Worksite. However, the CEO of an insurance company acknowledges that the strategy of developing new distribution channels will not stop here, but also appear more and more in the future. Accordingly, the diversity of products in the future will also have many changes, especially those products aimed at young people.
