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|The entire Dai-ichi Life Vietnam family is looking towards more success and recognition in the coming years|
Dai-ichi Life Vietnam has been named best life insurance company at the Golden Dragon Awards Ceremony, held in Hanoi this past April, demonstrating the solid and sustainable trust built between the company, its customers, and the community.
Tran Dinh Quan, general director of Dai-ichi Life Vietnam, said, “After 12 years of incessant efforts to build up customer trust, we are delighted and proud to receive the Golden Dragon Awards for the eleventh consecutive year. This shows that our commitment of providing excellent products and services of Japanese quality has been recognised by the community.”
“This award is great encouragement for Dai-ichi Life Vietnam to continue striving towards our goals of innovation and premier product solutions, as well as enhancing service quality to meet customers’ various financial needs,” Quan added.
Late last year, Dai-ichi Life Vietnam obtained approval from the Ministry of Finance for its eighth increase of capital, up to nearly VND7.7 trillion ($335 million), for its business expansion. With this increase, the Vietnamese arm of the group becomes one of the top life insurance companies in terms of capitalisation in the market, demonstrating the company’s solid financial strength.
After 12 years of operations, Dai-ichi Life Vietnam has built up a solid foundation and maintains an expansive network, with 290 offices and agencies covering 63 cities and provinces nationwide, while serving over 2.5 million Vietnamese customers. In celebration of its long-term success, and in appreciation of its customers’ ongoing trust and support, Dai-ichi Life Vietnam has launched its “Connect for Love” campaign. The message will be spread to its customers, staff, and agents as well as the local community through a series of meaningful customer appreciation programmes and corporate social responsibility activities aimed at securing a better life and bright future for Vietnamese families.
Dai-ichi Life Vietnam is also among the companies pioneering in the expansion and diversification of distribution channels, especially bancassurance. The company has signed strategic partnership agreements with numerous prestigious institutions including Sacombank, VNPost, SHB, LienVietPostBank, and HDBank.
In 2018, revenue from its alternative distribution channels, including bancassurance and VNPost, reached more than VND1 trillion ($43.47 million) and accounted for nearly 20 per cent of new premiums revenue. The company expects that this rate will increase to at least 30 per cent in 2019.
These alternative channels help Dai-ichi Life Vietnam diversify its distribution network and approach more customers, especially potential mid-level income customers, to better meet their financial needs and long-term welfare. This provides the company with yet another way to fulfil its commitment to sustainable development in Vietnam.
Founded in 1902, Dai-ichi Life Group is one of the leading life insurance companies globally, with total assets worth nearly ¥5.6 trillion. According to the financial statement of the year ending March 2019, ordinary revenues of Dai-ichi Life Group amounted to ¥7.18 trillion, and group-adjusted profits totalled ¥236.3 billion.
Along with this success, the group was ranked 145th in the Global 500 companies by Fortune magazine last year, which ranks the top 500 companies worldwide in regards to annual revenues.