Shinhan Life Vietnam is ready to enter a period of breakthrough growth

Shinhan Life Vietnam is ready to enter a period of breakthrough growth - Photo 1

Shinhan Life Vietnam is ready to enter a period of breakthrough growth - Photo 2

Since starting operations in the Vietnamese market in January 2022, Shinhan Life Vietnam has set out the vision to Enhance the Quality of Life through Innovation. With this vision, quality is the guiding principle in the Korean insurer’s business strategies in Vietnam. Furthermore, Shinhan Life comes from Korea, a developed life insurance market, where customers are very meticulous and detail-oriented and customer interests are emphasized. Therefore, from the beginning, this insurance company has focused on training a professional sales team to provide correct, sufficient and appropriate advice to customers.

Despite entering the market during a volatile period due to the Covid pandemic, followed by a period of general difficulty in the market, Shinhan Life still takes steady steps and grows positively. In parallel with the quality principle, Shinhan Life always strives to create a difference in its insurance product portfolio, distribution channels, and management operations to build its position in the market.

Entering the third year of doing business in Vietnam, Mr. Bae Seung Jun, General Director of Shinhan Life Vietnam revealed: “Shinhan Life Vietnam’s goal is to become an insurance company loved by Vietnamese people. We will constantly strive to make Vietnamese customers remember Shinhan Life as a reliable life insurance company with quality distribution channels, superior financial solutions and always putting customers’ interests first. first row”.

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To adapt to strong development in the new era, the head of the company said, Shinhan Life Vietnam will combine USP (Unique Selling Proposition – different business) and ESP (Emotional Selling Proposition – emotional advantage). emotions) to create a distinct brand mark in the market.

According to Mr. Bae Seung Jun, ESP is demonstrated through an excellent sales team and dedicated after-sales service. USP demonstrates the combined strength of subsidiaries of Shinhan Financial Group in Vietnam (One Shinhan), and through the transfer of know-how from the experience of Shinhan Life Korea. Both of these factors will create the strength and difference of Shinhan Life in the market in the coming time. “I believe that very few companies in the market can own or copy this factor,” the General Director emphasized.

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Vietnam’s life insurance market, after a year of strong adjustment, is clearly shifting from “quantity” to “quality” with the goal of quality growth. One of the “hottest” requests during the past period, and in the coming time, is to improve the quality of insurance agents to improve customer experience.

After 2 years of operation, Shinhan Life is providing a diverse product portfolio, providing comprehensive and flexible insurance solutions, meeting many different protection needs and provisions for the future of customers. Vietnamese. In order to continuously improve consulting quality, the new distribution channel – The personal insurance agency channel officially came into operation at the end of last month, the Korean insurer expects to contribute to further improving the customer experience. Vietnamese customers when buying life insurance products.

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“With the new distribution channel FC, we will continue to put quality at the heart of our customer consulting activities. We do not develop in quantity but focus on quality, aiming to recruit and train a professional team with a good foundation. At Shinhan Life Korea, FC is the main channel contributing to sales, contributing to the company’s sustainable development. We will apply this successful model to Shinhan Life Vietnam’s FC channel, with the goal of becoming a new key factor, creating a change in perception in the Vietnamese insurance market.” General Director Bae Seung Jun shared.

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The head also said that FC channel in particular and Shinhan Life Vietnam in general will always be supported in all aspects by parent company Shinhan Life Korea. With a competitive income policy as well as an attractive training program, the FC team will always be supported by the Company to achieve success in their career path.

Along with the Bancassurance channel, telemarketing, organizational agents and cooperation with companies of the same group, the FC channel with a team of professional consultants that has just come into operation is expected to promote strong growth for Shinhan Life. next time.

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Life insurance is highly humane, a product where all values ​​revolve around people, for a brighter future for each individual and family, effectively contributing to social security. Also stemming from this core value, Shinhan Life has been taking steps towards realizing the goal of becoming an insurance company loved by Vietnamese people.

“To turn this dream and goal into reality, instead of simply pursuing profits, Shinhan Life will always aim for a cooperative relationship of mutual development, contributing to economic development and welfare. Vietnamese society. Together, with the One-Team spirit, we are all working to build a Shinhan Life Vietnam – where staff and agents always feel happy and proud”, General Director Bae Seung Jun said.

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In 2024, although the life insurance market still faces many challenges, with a macroeconomic foundation forecast to have many bright spots and a complete basic legal framework, the market is expected to transform. more actively to achieve the positive growth target of 5%, contributing more effectively to the country’s socio-economic development.

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With firm belief in the market’s recovery, as well as the great potential of the Vietnamese insurance market in the long term, General Director of Shinhan Life Vietnam said: “Looking at the huge number of investments back into the economy and payment of insurance benefits of life insurance each year, it shows the role of contributing to stabilizing the macroeconomy as well as contributing to supporting the Social security policy. Furthermore, the life insurance participation rate of Vietnamese people is still modest, only about 11%. Therefore, we always believe that the life insurance market will soon recover and continue to grow in the coming time.”

Shinhan Life Vietnam is ready to enter a period of breakthrough growth - Photo 10

“The launch of the FC channel and investment in expanding the customer service center at this time are also proof of Shinhan Life’s solid belief in the development potential of the market. With the great support of the parent corporation, Shinhan Life will continue to expand and develop this year, to promote the sustainable development of the insurance market, as well as contribute to social security and development. Vietnam’s economy”. Mr. Bae Seung Jun emphasized.

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