Nguyen Nha Ngoc Tram Anh, chief operations officer of Hanwha Life Vietnam, accepts the 2017 Top 10 Corporate Sustainability award. — Photo courtesy of Hanwha Life Vietnam
Hanwha Life Vietnam is proud to have been honoured as a Top 10 Sustainable Business in Viet Nam in 2017 by the Viet Nam Chamber of Commerce and Industry.
This achievement is convincing proof of the company’s efforts to achieve sustainable development in Viet Nam, not just in terms of its business performance but also the many contributions it has been making to the community.
The sustainable business review and rating in Viet Nam is a prestigious annual initiative commissioned by the VCCI jointly with the Viet Nam Business Council for Sustainable Development (VBCSD) to pay tribute to 100 leading businesses with an excellent track record in sustainable development.
To make it to the list, Hanwha Life Vietnam went through a demanding assessment based on the corporate sustainability index designed as a measure of how a business is valued based on three key criteria – economic, social and environmental accountability.
In its eight years in Viet Nam Hanwha Life quickly became one of the businesses with the most impressive growth rates in the insurance industry. In the last five years new policy revenue growth has been 41 per cent on average, 10 percentage points higher than the industry average.
Its second year policy retention consistently remains at over 70 per cent.
Hanwha Life Vietnam opened its 100th customer service outlet in mid-August this year, four months ahead of schedule.
By mid-October the company had reached another milestone by cracking the VND500 billion revenue mark, VND150 billion more than a year earlier. In the first nine months of this year alone the company recruited 19,000 new financial consultants.
Hanwha Life has been investing extensively in systems, technology and applications to upgrade service quality and set up a call centre in a bid to become the life insurance company offering the best customer care.
It has also diversified its products with the new “Hanwha Life – Health is Gold”, an all-encompassing health insurance and hospital expense coverage product with coverage spanning the whole world.
Besides making general contributions to the country’s economy, Hanwha Life has also been a close companion of the Vietnamese people through its pragmatic community activities.
On November 28, along with the Child Fund (Korea) and Child Fund Vietnam, the company donated a medical centre costing VND2 billion to Lang Ngam commune, Ngan Son District, Bac Kan Province. This was the third health centre gifted by Hanwha Life to northern mountainous provinces after donating the first two to Hoa Binh Province.
Also in 2017 in co-operation with the HCM City Association for Protection of Poor Patients, Hanwha Life Vietnam gifted health insurance cards to more than 9,500 people worth nearly VND2 billion.
Before that, in just three years between 2014 and 2016, more than 27,260 poor people in 14 provinces and cities around the country received health insurance cards worth an estimated VND6.3 billion from the firm.
Hanwha Life is also involved in various other charity programmes like building “homes of love”, schools and health centres and providing nearly VND22 billion to sponsor funds.
“I hope that with these efforts by Hanwha Life Vietnam, the quality of living of Vietnamese people will improve day by day,” Back Jong Kook, chairman and CEO, Hanwha Life Vietnam, said.
“Moving forward, we will be working on many more projects that benefit local communities as a way of saying we are here to stay with the people and country of Vietnam.” — VNS