Prudential pays 23 billion VND to a customer in Can Tho

Recently, Prudential Vietnam Life Insurance Company (Prudential) paid insurance benefits to a customer in Can Tho with a total benefit payment of more than 23 billion VND.

Customer H. Thanh (customer name has been changed) entered into an insurance contract with Prudential in 2019 with the PRU-Flexible Investment product. In 2020, Ms. Thanh unfortunately discovered a critical illness at the age of 48. After submitting a request for insurance benefits, the customer was activated for the Critical Illness Premium Waiver benefit for the entire contract and was paid 100% of the late-stage Critical Illness insurance benefit, equivalent to 500 million VND. In early 2023, Prudential continued to receive requests for insurance benefits from the customer's family and has just completed payment of the death insurance benefit to the customer's family with a total benefit payment of more than 23 billion VND.

“We understand that when an insurance event occurs, customers are going through the most difficult time in their lives. With all our care and empathy, Prudential always strives to pay insurance benefits quickly and promptly with the simplest process to ensure the rights of customers. We hope that with Prudential's support, customers' families will soon stabilize their lives and continue to look forward to good things in the future" - Ms. Nguyen Thi Giang - Deputy General Director of Insurance Transactions of Prudential shared.

In addition, on March 11, Prudential also paid total and permanent disability benefits to a customer with a total benefit of nearly 2.6 billion VND in Quang Binh province.

According to data recorded in 2022, Prudential Vietnam continues to fulfill its commitment to be a financial support for more than 2.1 million customers with a total insurance payment of nearly VND 9,600 billion, an increase of 11% compared to 2021, accounting for 1/4 of the life insurance market in Vietnam. Of which, the amount paid for insurance benefits including Death, Total and Permanent Disability, Critical Illness and Medical Care is more than VND 1,600 billion, an increase of 35% compared to 2021.

Prudential Vietnam's 2022 and 5-year payout figures

In 2022, the Bancassurance channel will continue to be Prudential's key distribution channel alongside the Agent channel, providing financial protection, health and savings solutions to more than 410,000 customers. Last year, the number of cases and the amount of insurance benefits paid to customers via the Bancassurance channel both more than doubled, by 64% and 69% respectively compared to 2022. The largest payment for a customer participating in insurance via the Bancassurance channel in 2022 was up to VND 6.8 billion.

With a customer-centric strategy, according to the 2022 survey results, customer satisfaction index when experiencing Prudential's insurance benefits settlement service is the best in the market with 7.2 points on a 10-point scale (higher than the average of 6.7 points of the whole market).

Prudential always strives to improve customer experience.

Prudential also continuously invests in infrastructure and enhances digital capabilities, including transforming the insurance benefits settlement experience through digital platform pages, constantly upgrading and perfecting the automatic insurance benefits payment process (e-Claim) to help bring satisfaction and convenience to insurance customers. In 2022, the rate of online claim settlement will account for 80.2%, of which the rate of files processed within 30 minutes will account for 11.6% and 60.7% of files will be resolved within the day.

The life insurance industry is considered a "shield" for the socio-economy, annually paying tens of thousands of billions of VND in compensation and insurance benefits to individuals and businesses facing risks. In 2022, the total amount of insurance benefits paid by the entire life insurance industry is estimated to reach 40,600 billion VND, an increase of 25.1% compared to 2021.

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