Agribank Insurance "Responsibility and sharing" joins the flow of Vietnam integration

Responsibility associated with the mission of serving agriculture , farmers and rural areas

Born with the goal of accompanying the three agricultural sectors - agriculture, farmers and rural areas - Agribank Insurance (ABIC) has continuously expanded its network, bringing insurance products closer to people in remote areas. While other insurance companies focus on the urban market, Agribank Insurance has firmly chosen a special direction: Protecting rural workers and small-scale producers - those who are vulnerable to natural disasters, risks and economic fluctuations.

Insurance in the agricultural sector such as crop insurance, livestock insurance, borrower insurance, etc. are practical products that not only help farmers feel secure in production but also contribute to stabilizing social security, reducing the burden on the state budget in disaster relief work. From here, Agribank Insurance clearly demonstrates its sense of social responsibility in each policy and each product package implemented.

Together with Agribank, working closely with local people, Agribank Insurance gradually understands and sympathizes with the difficulties that people in agricultural and rural areas have to face. Bancassurance channel products are built on the basis of credit activities but must be friendly and close to rural agriculture and people. It can be said that Agribank Insurance was born with the political mission of being a tool to disperse and share risks, using insurance techniques, through insurance products for the life and health of borrowers or assets formed from loans, assets mortgaged for loans, to protect the State capital through Agribank providing capital to the agricultural, rural and farmer sectors.

From the people's perspective, insurance contributes to overcoming risks and losses caused by natural disasters and epidemics, helping people to be able to repay loans, be eligible to access new loans from Agribank, have the opportunity to reinvest, soon restore production and stabilize life.

With Credit Security insurance, farmers have a foothold to confidently expand production.

With Credit Security Insurance, farmers have a foothold to confidently expand production, develop the application of science and technology in large-scale production, contributing to the development of agriculture and rural areas, and minimizing risks.

When the Bank reviews the loan application, the customer's Credit Security insurance contract actually becomes an additional risk contingency plan, becoming a priority in choosing to approve the loan. In case of a risk to the borrower, Agribank Insurance will pay the bank debt on behalf of the borrower.

In cases of risks within the scope of insurance, thanks to the Credit Security insurance contract, the borrower's debts will not be transferred to bad debt. This is very important, it helps protect the credit rating of the borrower, is a necessary condition, helping the borrower to continue borrowing not only from Agribank but also from other credit institutions.

Agribank Insurance has gradually developed and expanded its distribution channel model, which has helped Agribank Insurance affirm its position in the top 10 on the non-life insurance market map with more than 3 million farming households and tens of thousands of businesses, of which nearly 2 million customers participating in credit security are mostly farmers, fishermen, and salt farmers.

Agribank Insurance has resolved nearly 300,000 cases with a total compensation value of more than 6,000 billion VND, contributing to helping individuals and households borrow capital to repay bank loans, meet the conditions for re-borrowing capital, and restore production and business. That is also the reason why users consider Agribank Insurance as a solid shield because Agribank Insurance always emphasizes the mission of a non-life insurance company, pioneering in providing reputable insurance products to protect the health, property and business activities of people, especially in the agricultural and rural areas, always accompanying and protecting customers on every journey.

Currently, Agribank Insurance is a pioneer in deploying retail insurance products in the Agriculture-Rural-Farmer sector. In particular, Credit Security-Life and Health Insurance for Borrowers is the most successful product of Agribank Insurance through the Bank-Insurance distribution channel with Agribank, including 2,300 transaction offices and more than 30,000 agents nationwide. And in 2024, it received the National Brand Award.

In the field of agricultural insurance, Agribank Insurance continues to affirm its pioneering role when implementing many practical insurance programs such as: rice crop insurance, livestock insurance, long-term industrial crop insurance... Thereby, contributing to minimizing losses caused by natural disasters and epidemics, protecting and stabilizing agricultural production, creating trust and motivation for farmers to firmly step on the journey of production and business, improving income and life. Typical agricultural production models with the support of capital flows and Agribank insurance policies, from the vast rice fields in the Mekong Delta to high-tech livestock farms in the North, have become typical examples of the success of the combination of credit - agricultural insurance - sustainable development.

Firm business in the integration process

In the context of globalization and deep integration, Vietnam is gradually affirming its position in the international arena. To accompany and contribute to building a sustainable economic development, Vietnamese enterprises not only need to improve their competitiveness but also gradually apply digital technology in their business activities. Grasping that trend, Agribank Insurance has proactively implemented strong digital transformation throughout the system, identifying this as a vital factor for sustainable development. The application of base.vn enterprise management software to internal management has helped optimize operating processes, increase work coordination efficiency, make information systems transparent, improve labor productivity and operational efficiency.

This is an important step towards building Agribank Insurance into a digital enterprise, operating flexibly, modernly, approaching international standards.

At the same time, Agribank Insurance has been implementing many new business solutions, promoting product digitalization, expanding online sales channels, applying technology in customer data management, developing a digital insurance ecosystem to improve customer experience, bringing insurance services closer to people, especially in rural and remote areas.

Continuing the journey of half a century of national unification, with the fortitude tempered through hardships and the spirit of constant innovation, Agribank Insurance vows to devote all its passion, intelligence and creativity to continue affirming its position as one of the prestigious insurance companies, closely associated with agriculture and rural areas of Vietnam.

Continuously expanding its vision and improving the quality of human resources, Agribank Insurance has also actively participated in specialized seminars and workshops organized by management agencies, insurance associations, and financial and banking organizations. Through events such as: Digital transformation workshop for the insurance industry, Seminar on sustainable agricultural insurance development, Microinsurance symposium, training programs on risk management, corporate governance, etc. Agribank Insurance not only absorbs new trends and modern business models, but also strengthens connections and shares practical experiences with leading experts at home and abroad.

This is a valuable source of knowledge for Agribank Insurance to continuously update and innovate products and services, improve business processes, enhance competitiveness, and better meet development requirements in the digital era and deep international integration.

With the determination to develop safely and effectively, contributing positively to the cause of building a prosperous and happy country, Agribank Insurance is committed to always accompanying customers, partners and the community, affirming its position as one of the leading insurance enterprises, closely associated with the development of agriculture and rural areas of Vietnam in the integration period.

Source: https://nhandan.vn/bao-hiem-agribank-trach-nhiem-va-se-chia-hoa-chung-vao-dong-chay-viet-nam-hoi-nhap-post877698.html