Insurance industry discusses ways to restore trust at Vietnam Insurance Actuarial Conference 2025

Conference View 2 — Overview of the in-depth discussion session "Creating the future, where protection creates trust" within the framework of VAC 2025

The Vietnam Actuarial Conference 2025 (VAC 2025) took place today, November 21, with the theme "Restoring trust, redefining insurance", gathering more than 400 delegates including actuaries, representatives of management agencies, leaders of insurance companies and many large reinsurance partners in the world .

The year 2025 marks a period of strong transformation for the insurance industry when a series of legal regulations are amended to improve transparency, tighten the quality of advice and increase responsibility to customers. In the context of market trust facing many challenges, VAC 2025 becomes a forum for management agencies and businesses to seek practical solutions to strengthen trust and improve service standards.

While previous conferences focused on improving the industry’s resilience to change, VAC 2025 shifted its focus to rebuilding trust and redefining the role of insurance in life. Insurance is no longer just a “risk shield”, but must become a health care, financial, and social security service.

The representative of the Organizing Committee said that the theme “Restoring trust, redefining insurance ” reflects the strategic orientation of the entire insurance industry in the current context. Trust is the foundation for customers to choose long-term companionship; and in the new era, the insurance industry can only develop sustainably when services are transparent, modern and oriented towards real experiences.

Emphasizing the importance of putting customers at the center, Mr. Andrew Loh, General Director of AIA Vietnam, said that restoring trust cannot be based on promises alone, it requires a fundamental shift across the industry.

“Putting customers at the center of the market is no longer a choice for individual businesses, but a common principle for the entire market. When every decision, from product design, pricing model to payment process is built on the real needs of customers, transparency and fairness will be demonstrated by actions, not just words. Through such clear and consistent experiences, trust will be restored, opening up a future where insurance is redefined as a modern, humane and daily life service,” said Mr. Andrew Loh.

At the conference, the role of the actuary team was highlighted in the context of the insurance industry's profound transformation towards new standards such as RBC or IFRS 17.

Mr. Le Thanh Nam, Deputy General Director of Finance of AIA Vietnam, emphasized that pricing is where data, technology and strategy meet, contributing to creating products that are fairer, more transparent and more suitable to the needs of the Vietnamese market.

At the conference, international reinsurance partners such as Swiss Re, Munich Re, Hannover Re, RGA and Pacific Life Re also shared many practical experiences from regional and global markets, including risk management, customer experience and building a sustainable protection platform.

This year's conference also has an in-depth discussion session "Creating the future, where protection creates trust" , focusing on a modern, humane, and transparent insurance market model, in which protection is not only a financial product but also a lifelong commitment to customers.

VAC 2025 is expected to become a new boost for the Vietnamese insurance industry, contributing to building a transparent, efficient and truly customer-centric service ecosystem.

Source: https://daibieunhandan.vn/nganh-bao-hiem-ban-cach-khoi-phuc-niem-tin-tai-hoi-nghi-dinh-phi-bao-hiem-viet-nam-2025-10396569.html