Hanwha Life Vietnam Cooperation with ASIANLINK Expanding Insurance Distribution Through Organised Agent Networks

10:58:41 AM | 12/18/2021

On December 17, Hanwha Life Vietnam signed a strategic cooperation agreement with ASIANLINK JSC – one of Vietnam’s most reputable insurance distribution agencies – to diversify its channels to meet the increasing demand of customers.

Besides channels like e-commerce and bancassurance, with the cooperation with ASIANLINK, Hanwha Life Vietnam continues to make a difference when expanding insurance distribution through institutional agency channels – a new and potential model that helps promote the insurance industry to develop strongly in the future.

Institutional agencies like ASIANLINK are the latest development in insurance distribution in Vietnam. While already established and tremendously effective in North America, Hong Kong, Japan, Singapore, and South Korea, they are still a novelty in Vietnam. However, the model has already achieved considerable success, contributing to revenues in the insurance industry and meeting the increasingly diverse needs of customers. In fact, many customers look to agents not only for advice on life insurance but also other non-life insurance products such as for travel, house, car, fire, and others. Therefore, the role of the institutional agent is to advise on many different insurance products, helping customers with comprehensive solutions and bringing the highest satisfaction.

With its vision of becoming the most-trusted insurance company in Vietnam and providing customer-oriented services and solutions, Hanwha Life Vietnam is constantly adapting to the demand. New and innovative ways to approach financial services, together with heavy investments in digital technology, bring different and superior experiences to customers.

Along with researching and developing products on an online platform, Hanwha Life Vietnam focuses on improving customer experience and optimising business operations. Accordingly, it has built the LIME application with a full suite of utilities for customers, such as online contract management, underwriting and automatic insurance, and online payments. The application not only provides life insurance content and services but also brings helpful tips and lifestyle hacks and other benefits to customers, while connecting customers with thousands of partners and diverse services such as dining, shopping, and healthcare to offer even more experiences on Hanwha Life Vietnam’s digital ecosystem. Hanwha Life Vietnam is also one of the life insurance companies with the widest range of payment methods in the market, including commercial banks, e-wallets such as MoMo, Payoo, and VNpay, electronic payment gateways, and in-person payments. In October, the company also launched LIME Pro – an online tool to support the sales force with many electronic utilities to make sales and service provisions more professional and efficient.

To reach the milestone of protecting 1 million customers and more, Hanwha Life Vietnam is promoting cooperation with many partners in the fields of healthcare, banking, fintech, and tech for the benefit of customers. Customers can easily access and experience Hanwha Life's products, aiming to realize Hanwha Life's mission of building comprehensive life solutions for customers in the Vietnamese market.

Meanwhile, established in 2019, ASIANLINK is a pioneer in providing and distributing selected non-life and life insurance products that offer the best benefits to customers. ASIANLINK’S comprehensive ecosystem includes a product system, technology, and marketing solutions, and a comprehensive training system to help consultants do their deeds more easily and effectively. 

On 3 November, the company has signed a strategic cooperation agreement to distribute insurance products with VBI JSC – which owns a nationwide network of 38 companies, 5,000 agents, and 13,000 collaborators. Hanwha Life Vietnam’s choice to team up with ASIANLINK will generate more value to its operations while at the same time providing comprehensive financial solutions for customers.

Dao Duy Ninh, Deputy general director of Strategic Development and Distribution Channels at Hanwha Life Vietnam shared, “Finding reputable units to cooperate with is a priority of Hanwha Life. We appreciate ASIANLINK for its youth, enthusiasm and dedication, as well as its rapid expansion in scale, quality, and network. ASIANLINK is continuously improving its position in Vietnam and through this partnership, we aim to deliver a differentiated customer experience, in line with our efforts to diversify distribution channels and help customers easily access our financial solutions.”

Tran Sy Khue, Tran Sy Khue, Chairman & Chief Excutive Officer ASIANLINK said, “With the motto of ‘Acting for the Vietnamese’, we wish to build trust and cooperate with prestigious insurance partners to provide diversified and effective protection with the highest value to customers. Hanwha Life Vietnam is one of the most-trusted South Korean life insurance companies in Vietnam, investing in many fields and understanding the needs of people. This is also the reason why ASIANLINK wishes to become a partner of Hanwha Life Vietnam, to bring products closer to the population.”

T.H (Vietnam Business Forum)