Life insurance don't miss time from Facebook

In the context of the movement using the social networking site, Facebook is blooming, the insurance company has to make the most of this channel to interact with customers, business service products, insurance services. At the forefront of the trend to use social networking to moving closer to the customer is as insurance companies Generali Vietnam, Chubb Life or Manulife Vietnam ... "Using social networking sites such as Facebook to interact with customers is hard sexual trend of enterprises in General and life insurance companies is no exception. In addition to sharing information in order to help customers better understand the product, it is also a channel bring more potential customers for the insurer, "one industry expert said.

Life insurance don't miss time from Facebook
With the insurer to have the insurance plate development online, the social network is the fastest connection between business-to-customer. Exchange for stock investments, representing Hanwha Life said, besides the traditional channels of interaction with the client as messages, phone hotline, the company has reserved a clue to receive insurance advice, answer questions for customers through Facebook. Since then, this Department classification, reviews the content and distribution of business departments to give feedback to the customers as quickly as possible. Besides, Hanwha Life are continuing to improve and study new interaction channels to serve customers.

Not only take advantage of the benefits of social networking, the insurer also quickly into the race application technology to create competitive advantage in the supply of products or services. Recently, AIA has just launched the AIA application's Vitality in Vietnam. This is the health applications on mobile was first introduced by a life insurance company, this application will give insured clients the knowledge and tools to improve their health. In addition, the AIA also introduced to customers in the online customer service "insurance contracts" and the "online payment". Accordingly, the AIA's customers can pay the premium in more than 1,530 Payoo transaction set in the supermarket, shop, tech. ..

"In order to meet the changing needs of customers, AIA is innovating towards the digital with the AIA program Vitality, iPoS, payment through Payoo,...," said Wayne Besant, General Manager of AIA Vietnam shares. New step into the Vietnam insurance market, the insurance company Sun Life Vietnam also quickly raise the competitiveness to take advantage of technology to reach customers. At the ceremony announcing wholly owned company in Vietnam and Vietnam to Life Sun PVI brand new name is Sun Life Vietnam, said Roger Steel, Vice President of Sun Life Financial Asia said: "along with the expanded insurance sales channels, we will continue to intensify the search for the channels of interaction with the client the best and use social networking to enhance the interaction with customers more.

This new happenings in the life insurance market is a positive breeze, by whatever was on the domestic market a few dozen decades of life insurance, remain popular in wide extent to people. According to the evaluation of the market, have about 6-7% of the population are life insurance, by the way, the rapid increase in the number of clients understand and expect to be protected by insurance is an important task of leading insurance companies today. According to Mr. Wayne Besant, technologies are increasingly large role in every aspect of life of the Vietnamese people and it will change the way the operation of the life insurance business.

Life insurance market share: "Minor" little part

The life insurance sector, beginning in 2016 to witness many changes both in terms of location, personnel, market share, brand ... About 80% of the market share of Vietnamese life insurance market is in the hands of the "Mr. big" as Bao Viet, Manulife, Prudential ... Besides the FWD Corporation events, the life insurance business of Hong Kong, formally joined the Vietnam insurance market through business acquisition of Singapore's Great Eastern life insurance sector, the first months of the year 2016 are also witnessing many changes both in terms of location, personnel, market share brand, ... of the insurers, such the Life pass to capture top Prudential, Prévoir Vietnam or have brand new identity after the "Farewell" VNPost ... All this upheaval predicted the competition in the life insurance sector will be more fierce than in the coming time.

Official figures in December 2016 year of insurance supervision authority (Ministry of Finance) shows, the market share of premium revenue of new mining of Life hit 21.06%, followed by Prudential to 19.25%, the next positions in the Top 5 in turn is Manulife Vietnam, Dai-ichi Life Vietnam and AIA Vietnam (each business accounted for more than 10% of the market). Market share in total revenue in the first five months, Life also is leading with 28.1% market share, while Prudential accounted for 26.2% market share ... The Prudential to missed the number 1 on the hand Life is predictable thing, when that Life time through many changes and in action to strong, especially on high level personnel.

About market share, as of this time, in addition to the change of Prudential and Life, the market does not have many notable fluctuations. In the Top 5, then 2 on the business, the location of the next turn is Manulife Vietnam, Dai-ichi Life Vietnam and AIA Vietnam when still wearing the alignment stars on the market for years. In the Group of smaller market share, PVI Sun Life attention thanks to the constant market share was improving, while Vietnam and Generali Chubb Life as "Rookie" FWD promises will have new movements.

Prévoir Vietnam, a French insurer had also quite small in the Vietnam market, also shows positive changes since the launch of the new slogan and brand. On the insurance market, Prévoir Vietnam is known through the sale of insurance through postal system (VNPost). However, at present, Prévoir Vietnam was no longer sold products through this channel, by Dai-ichi Life Vietnam has become the new partner of the VNPost system. Reportedly, after the change to the new identity, Prévoir Vietnam will continue to study and perfect to give the market life insurance products, including the product life has risk protection benefits, savings and investment benefits provided to customers through premium channel associated with the Bank , the products associated with the insurance broker partners and other potential distribution channels.

In one other move, the Vietnamese insurance market has just received a new Member's life insurance company, Ageas MB with Charter capital is 1,100 billion. In particular, military Bank (MB) contributed 671 billion, equivalent to the national capital owned 61%, the rest by two foreign partners is Ageas Insurance International NV (Belgium) 319 billion contribution, the proportion owning 29% and Muang Thai Life Assurance Company Limited (Thailand) contributed 110 billion, respectively 10% rate. According to experts in the industry, competition will continue to take place in groups of large enterprises, while accounting for about 80% of the market share of the whole market. For the smaller business, although set out these goals quite ambitious and there are many efforts, but to increase market share in a short time was not the problem easily.

"With a population of more than 90 million people, yet many people buy life insurance, opportunity for insurance companies in Vietnam market is huge. However, to turn the opportunity into a reality, especially with the new names, is a big challenge, by the majority of the market is in the hands of longtime brand ", a professional look. In addition to new market, Ageas MB here also appear the information a insurance company name came from Asia, has had a representative office in Vietnam, also move to prepare market participants. However, according to learn of this insurer, investment remains "the judgment binh real estate". In fact, not just insurers, and insurers have pretty much "cheek" to another standing outside observation, rather than not yet officially revealed.

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