Hanwha Life Vietnam and digital transformation strategy

15:07 | 24/12/2020
Amidst the challenges besetting the life insurance industry, Hanwha Life Vietnam pushes for significant development by focusing on digital transformation to enhance customer experience, business efficiency, digitalise new distribution channels, automate operational agilities, and increase brand awareness.
hanwha life vietnam and digital transformation strategy
Hanwha Life Vietnam invests in the industry 4.0 technologies to bring more benefits to customers

To tap into the 4.0 trend, Hanwha Life Vietnam has recently announced the completion of digital ecosystem by automating insurance procedures to serve customers and sales force. Accordingly, insurance procedures are now being automatically processed on online platforms such as Customer Portal, multi-channel customer service centres, digital premium payment, and quick compensation JetClaim.

In consequence, customers can feel more convenient with the Customer Portal’s management functions, up-to-date policy-related information, as well as request deposit from policy value and online payment. To be more understood and interact better with customers, Hanwha Life Vietnam has introduced the Contact Centre in September to support customers via multiple channels such as telephone, text message, internet, social media, and email.

hanwha life vietnam and digital transformation strategy
By adopting Industry 4.0 technologies, Hanwha Life Vietnam can support its staff to do businesses efficiently

In an effort to bring more convenient and innovative services, Hanwha Life Vietnam has one of the widest payment networks which includes all commercial banks, digital wallets, online payment portals, and direct fee collection locations. Particularly. In the third quarter of 2020, Hanwha Life was actively partnering with fintech partners like MoMo, Payoo, Viettel Pay, and VNPay-QR to digitalise premium payment channels.

Besides e-wallets, Hanwha Life Vietnam’s premium payment network also covers large commercial banks and direct collection partners at 23,000 transaction sites of Vietnam Post, Viettel Post, and convenient stores with Payoo. With this network of payment channels, Hanwha Life Vietnam brings a great deal of choices, convenience, and fewer cash transactions.

Besides enhancing customer experience, one of the priority targets of digital transformation is improving the efficiency of the salesforce. The current applications such as E-submission help financial consultants to manage potential customers and online claim request submission effectively.

Now, 100 per cent of claim requests at Hanwha Life Vietnam is now automatically handled via E-submission, which helps manage customer data, evaluate potentiality, and customise services according to customer need.

In addition, financial consultants can spend less time processing documents with the functions of verifying infomation, premium payments, and online submission of insurance documents, among others. Daily activities of financial consultants and the company’s competitiveness as a whole have been significantly improved day by day by E-submission and other applications like FC-portal for sales operation and E-recruitment for online recruitment.

Digital transformation for a better future

Digital transformation not only focuses on enhancing customer experience, making a difference in service quality, boosting sales efficiency but also aiming to become the most trusted life insurance company by 2025.

Accordingly, Hanwha Life Vietnam is developing a smart application on mobile devices for customers. Mobile application brings many benefits such as digitalise data, providing online contracts (ePolicy), auto underwriting and issuance, and e-payment, among others. Not only bringing many utilities, the Customer app enhances the experience, bringing more added values and creating a complete ecosystem for customers on digital platforms.

One of the biggest goals of digital transformation is to improve sales force efficiency. Accordingly, FC portal, Zalo official account for salesforce, automated sales platform, and an e-learning platform will be completed soon. The highlights of the business intelligence platform and automation is the integration of useful tools such as e-learning, online sales, e-recruitment, and e-counselling to help the sales force provide professional and effective services to customers.

Working towards the target of becoming the most trustworthy company in 2025, building corporate culture, staff collaboration, and pride is very important. An application for Hanwha Life members (including staff and financial consultants) is being developed. The application will help staff understand more about Hanwha, with practical and funny functions.

Furthermore, the company is doing research and development on suitable simplified digital products, which are affordable and customised. In the near future, simplified products will be introduced on e-commerce platforms to approach customers faster.

Currently, the gap between financial and non-financial business is being removed in the global life insurance market, financial institutions equipped with fintech is impacting the market. To lead a breakthrough in the insurance market, Hanwha Life Vietnam is working with financial and non-financial partners, as young and millennial customers want more and more effective products and services.

Hanwha Life Vietnam is therefore boosting cooperation in various respects like technology, banks, healthcare, and e-commerce to provide more holistic services and smart applications on digital platforms in business operation, in order to serve customers better.

With significant changes towards diverse digital ecosystem, being both holistic and user-friendly, Hanwha Life Vietnam has been bringing a better customer experience journey, easy-to-understand insurance procedure, and a perfect life solution to customers.

By Thanh Van

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