Shinhan Life diversifies services for beneficiaries

Could you please share about the products and services that the company is focusing on? What have you implemented to diversify products and improve service quality to leave your own mark?

We are developing specialized products for each distribution channel, focusing on online products so that people can easily register for life insurance. We are also continuously developing applications and technology platforms which facilitate our staff in consulting and providing services to customers, and also facilitate customers’ insurance payment.

Currently, in addition to the individual agent channels (FC channels), we always focus on expanding distribution channels through banks and organizations, diversifying life insurance and health insurance products by our partners’ consulting staff. This demonstrates our determination in providing comprehensive protection solutions and insurance products at reasonable costs to millions of Vietnamese people. In the future, we plan to expand our insurance product portfolio, improve our technology system and infrastructure to better suit each channel.

During volatile insurance market conditions, what measures has Shinhan Life Vietnam implemented to overcome challenges and achieve positive results?

I believe that the current difficult situation in the insurance sector is an opportunity for insurance companies to restore customer confidence and improve selling processes, switching from quantity growth to quality growth. Shinhan Life Vietnam is also pursuing quality growth by continuously investing in human resources, technology systems and training activities.

We expect a comprehensive recovery of the insurance market next year and will expand our business effectively.

Bae Seung Jun, General Director of Shinhan Life Vietnam

In order to improve service quality, what activities has Shinhan Life Vietnam focused on to check and monitor the operations of FC teams?

Shinhan Life Vietnam regularly conducts internal controls and periodic sales compliance checks. In addition, we regularly and systematically organize the introduction, training and performance analysis of individual agents to improve service quality.

We are implementing a differentiated business strategy combining USP (Unique Selling Proposition) and ESP (Emotional Selling Proposition) to create a distinct brand mark in the market. To build a positive brand image, we are committed to providing quality products and no compromising on quality for any reason.

How has your company raised public awareness of the meaning, role and impact of insurance products?

I think we need to spread the meaning of insurance products that can minimize health-related risks, and protect individuals and families from natural disasters and diseases through media and community activities, etc. As for Shinhan Life Vietnam, we are actively spreading the meaning of insurance through free online insurance programs, supporting hospital fees for children suffering from cancer and sponsoring education funds.

Could you please share a little about the company’s goals and strategies in the coming years?

In the future, we plan to expand our insurance product portfolio, improve our technology system and infrastructure to better suit each distribution channel and ensure stable growth for the company. In addition, we plan to actively carry out community activities through volunteer activities from Shinhan Life and other activities with Shinhan companies in Vietnam.

The insurance industry is currently experiencing a lull to focus more on quality improvement. We expect a comprehensive recovery of the insurance market next year and will expand our business effectively.