Manulife invests more in digital technology

Sunday, May 05, 2019 15:40

Kim Fleming, general director of Manulife Vietnam, speaks to the media. The company has announced plans to invest more in technology to become the top digital customer-centric company in the industry. – VNS Photo Courtesy of Manulife Vietnam

Life insurer Manulife Vietnam on Thursday unveiled plans to invest in technology and become the top digital customer-centric company in the industry.

Kim Fleming, its general director, said: “In 2019 we focus on implementing the ambition to become the leading insurance company in digitising with a customer-centric policy.

“We will continue to invest in digital transformation, as well as staff development and distribution channels to achieve this ambition.”

The digital transformation has been ongoing at the company since last year and many applications have been launched, like eClaims, EPOS and Genie, to support customers and agents, he said.

It is the first insurer to introduce an automatic claim settlement process, eClaims. Since its introduction, over 65 per cent of total claims have been submitted through it.

Manulife said as a result customer satisfaction increased by 32 per cent in the first quarter of this year.

Last year it achieved revenues of over VND13 trillion (US$570 million), a 31 per cent jump from 2017, with net insurance revenues rising by 36 per cent to VND10.8 trillion ($473 million).

Premiums from new contracts were worth VND4.5 trillion ($197 million), a 38 per cent increase.

Manulife was the first foreign life insurer to enter Viet Nam, which it did in 1999.

It was the largest life insurance company in terms of charter capital as of the last quarter. – VNS

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