Hanwha Life Vietnam's agency channel: Quantity goes hand in hand with quality.

The dealer channel asserts its position as the "trump card".

Over the past 15 years, Hanwha Life Vietnam has implemented business strategies along with commitments to respect the rights of its distribution partners and customers, aiming to comprehensively protect the health and finances of Vietnamese people.

The company has developed a diverse range of distribution channels, including agency channels (comprising individual agents, general agents, and institutional agents), bank partnerships, and online distribution channels. However, the agency channel remains the core business channel, contributing over 90% of the company's insurance premium revenue. This aligns with the business strategy of Hanwha Life Group in South Korea, a company with 77 years of experience, which continues to focus on investing in and developing its agency channel and maintaining its leading position in terms of business contribution.

Not only do reputable and professional insurance agents help increase revenue, but they also help Hanwha Life Vietnam retain and increase customer trust in its products, as demonstrated by various financial indicators. Despite the challenges and fluctuations in the first six months of 2023, Hanwha Life Vietnam maintained growth in renewal premium revenue, with total premium revenue exceeding VND 1,900 billion. These positive results were sustained by a well-invested and forward-thinking nationwide agency distribution network.

Currently, the company has over 38,000 professional financial advisors, 120 general agents, 141 customer service points, and 6 corporate partners, spread across 46 provinces and cities. The entire team aims to connect with customers not just through insurance transactions, but also through long-term, strong partnerships.

Sustainability - the key to building strong dealer networks.

To promote and support the development of the dealer network, the company always pays attention and makes appropriate investments such as applying an attractive compensation system, a well-structured and appropriately designed training and skill development program, and many large-scale brand marketing programs to support business development activities.

Hanwha Life Vietnam guides agents along a clear career progression path with transparent benefits linked to contract retention rates and business quality. The company has a retention bonus policy, based on contract duration, to encourage agents to create even greater customer satisfaction and retain clients. If agents have a short-term mindset and do not prioritize the quality of service provided to customers, they will certainly not receive the benefits they deserve.

Having been with Hanwha Life Vietnam for the past 10 years, Mr. Ho Van Duc - Director of the An Nhon General Agency Office (Binh Dinh) shared: "My time with the company has been a memorable journey filled with challenges and triumphs. My team of consultants and I are always satisfied with the training, support, and benefits the company provides to its agents, and we especially trust the company's business strategies. We consider this our solid career path, and we strive continuously to build the highest level of trust and satisfaction with our customers, contributing to Hanwha Life's mission to become the most trusted insurance company in Vietnam."

Hanwha Life's senior leadership honored and expressed gratitude to Mr. Ho Van Duc - Director of the An Nhon General Agency Office (second from the right) at the company's 15th anniversary celebration.

Currently, in addition to the traditional general agency model, Hanwha Life Vietnam is also promoting the Flexible General Agency (Flexi GA) model. The Flexi GA model operates as a "startup incubator" for individuals who are passionate about distributing life insurance products. The model provides comprehensive support including office space, workspace, management personnel, training in startup skills, management skills, and human development. When the time is right, Flexi GAs will transform into independent businesses, expanding and contributing substantial value to the local community and society.

The company also develops framework programs for operational management, training, and financial support for its sales team, including the Hanwha Lead program for key dealers, the Hanwha Master program for business managers, and the Hanwha Partner program for its general agents. At the same time, the company proactively reviews and improves dealer management processes, operational monitoring, business processes, and customer care… as well as strengthening the monitoring of the implementation of business system processes.

Mr. Bui Quang Nam, Deputy General Director of Sales at Hanwha Life Vietnam, stated: "One of the key factors contributing to the company's success is its brand reputation. To achieve this, respecting ethical business conduct is crucial. We manage sales by ensuring that agents thoroughly understand the company's business philosophy. Relying solely on sanctions and penalties will not yield sustainable results."

"With a solid foundation, the next stage presents a great opportunity for Hanwha Life Vietnam to continue its breakthrough. Along with perfecting insurance sales models, the company will also promote digital tools to enhance interaction and improve the digital financial experience for users," Mr. Bui Quang Nam further shared.

Source link: https://thanhnien.vn/kenh-dai-ly-cua-hanwha-life-viet-nam-luong-di-cung-chat-185230925160956105.htm