Being protected is more than just having an insurance policy.

Financial capacity - the survival of insurance companies

In the big picture of life insurance today, the 19 companies operating each have their own impressive colors. There are leading state-owned enterprises, domestic and foreign joint ventures, but most are the offspring of famous insurance and financial corporations from the US, UK, Japan, etc.

According to Mr. Nguyen Viet Hai, General Director of Net Zero Company, who used to be in charge of the investment sector of the largest foreign insurance company in Vietnam and also held the position of General Director of An Binh Securities Company for many years, shared: " In the field of life insurance, businesses must both ensure the responsibility of protecting the financial safety of customers and adapt to the constant changes of the market . Life insurance is based on trust, so financial capacity is really a strength to compete over a very long distance". According to Mr. Hai, a life insurance contract usually has a fairly long term, the insurance amount when it matures or when paying insurance benefits to customers can be up to hundreds of millions, even billions of VND. Therefore, a business with financial strength is a huge plus for customers to choose to participate in insurance.

Position of leading insurance group

In recent years, the life insurance market has become very familiar with Chubb Life Insurance Company Limited (Chubb Life) - a member of Chubb Limited (Chubb), a leading insurance group in the United States with nearly 232 years of experience. This is the world's largest publicly listed insurance group, present in 54 countries and territories.

Chubb Corporation has just announced extremely impressive business results. In the third quarter of 2023, the Corporation's net income reached 2.04 billion USD, with a record increase of 157.8%, bringing the 9-month net income to 5.73 billion USD, an increase of 45.5%.

In Vietnam, Chubb Life's steady progress has led the Group to increase its investment in this market. Mr. Sang Lee, President of Chubb Life Southeast Asia and New Zealand, affirmed: "Vietnam is a key market . We have carefully planned our strategy for penetration and development in this market and I believe that Chubb Life Vietnam will continue the success of other business segments as well as the long-standing culture of the Group ."

Được bảo vệ không chỉ là sở hữu một hợp đồng bảo hiểm- Ảnh 1.

This leader also highly appreciated the steady development of Chubb Life in Vietnam, stating that this is the result of Chubb Limited's long-term and steadfast investment commitment, the inheritance of US standards on corporate governance and finance from the world's leading insurance group, along with the effective business strategy of the local enterprise. Over the years, Chubb Life has always maintained a very high solvency margin, as of October 2023, this figure is 2.5 times higher than the statutory requirement.

Protecting customers is always our number one responsibility…

" The insurance market has just passed the 30-year milestone of formation and development in Vietnam, and over the years, life insurance has done a very good job of its protection mission . Protecting customers is the number one task of insurance. Life insurance service providers need strong capacity to ensure financial security for their customers in all circumstances, " said Mr. Ngo Trung Dung, Deputy General Secretary of the Vietnam Insurance Association. According to information from the Vietnam Insurance Association, by the end of October 2023, although total life insurance premium revenue decreased by 10.9% compared to the same period in 2022, insurance benefits were estimated at VND 46.6 trillion, up 42.3% over the same period last year. This once again affirms the important role of life insurance in protecting people's financial security. For Chubb Life, good financial capacity has helped the company stay steadfast in its role as the most trusted life insurance brand for Vietnamese breadwinners and families.

Được bảo vệ không chỉ là sở hữu một hợp đồng bảo hiểm- Ảnh 2.

Also as of October 2023, this company has paid nearly 6 trillion VND in insurance benefits to customers, accounting for more than 2,800 billion VND in 2022 and the first 10 months of this year. Most recently, Chubb Life has paid 3.1 billion VND to the families of two customers who died in a fire at a motorbike and bicycle shop in Hoai Duc district, Hanoi . The company has also paid insurance benefits to the families of customers who were victims of a mini-apartment fire in Thanh Xuan, Hanoi, with a quick compensation settlement process.

Companionship is not just about paying insurance…

Ms. Thuy Hang (Tay Ho, Hanoi) is participating in Chubb Life's "Flexible Financial Plan" product and shared: " This company's solutions seem to be specifically designed and tailored to the individual needs of each person and each family, not just revolving around what the business finds beneficial."

"Flexible Financial Plan" is an example of one of the unique products on the market that Chubb Life has built to meet the diverse needs of customers. Each product launched is not only a protection solution but also a seamless, convenient and continuous experience journey through an advanced technology ecosystem invested on a sound financial foundation.

Khách hàng của Chubb Life luôn ở trong trạng thái được chăm sóc và bảo vệ, chứ không phải chỉ là sở hữu một hợp đồng bảo hiểm — Chubb Life's customers are always in a state of care and protection, not just owning an insurance contract.

The solidity of resources also helps Chubb Life invest heavily in training strategies, developing a team of agents and employees, aiming for professionalism, standards and above all, dedication to serving customers and their families. In the first 11 months of 2023, the company has successfully implemented more than 2,000 financial consultant training courses, nearly 1,200 courses to improve consulting and business management skills.

Through the promotion of synchronous development from products, services, technology to human resources, from administrative departments to sales teams and coordination with partners, Chubb Life's customers are always in a state of being cared for and protected, not just owning an insurance contract.

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