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Bao Viet Insurance pays tribute to excellent counselors

Released at: 20:26, 29/03/2017

Bao Viet Insurance pays tribute to excellent counselors

Photo: Bao Viet Insurance

High achievers recognized at Counselor Conference 2017.

by Duy Anh

Bao Viet Insurance held its Counselor Conference 2017 from March 23 to 26 to pay tribute to 150 excellent counselors in 2016, who represent a total of more than 30,000 Bao Viet counselors nationwide.

The annual tribute was held to honor the contributions and excellent achievements of counselors in bringing the Bao Viet Insurance brand closer to customers.

Officials from Bao Viet Insurance handed out 82 Golden Star prizes, 37 Platinum Stars, and five Diamond Stars to counselors with the highest insurance premium revenue in 2016. Ten team leaders of counselors with notable achievements in their localities and 23 counselors with more than 15 years of employment at Bao Viet Insurance were also honored.

On the sidelines of the event, counselors also participated in conferences to share and learn about different sales methods and handling difficult situations. This was aimed at helping them to gain knowledge and skills during the sales process.

Speaking at the event, Deputy CEO of Bao Viet Inusrance Mr. Quang Thanh Nam sincerely thanked all counselors for their outstanding efforts and contributions, which resulted in Bao Viet Insurance’s success in 2016.

While many companies saw declining growth last year, Bao Viet Insurance secured a 12 per cent growth rate against 2015. Revenue from initial insurance premiums exceeded VND6.8 trillion ($298.3 million), or nearly 20 per cent of all revenue in Vietnam’s insurance market. It’s not only the leading insurer for household customers, it is also the leading insurer for packaged insurance solutions, minimizing damage to institutional customers and companies.

On behalf of all Bao Viet Insurance officials, Mr. Nam committed to continuing to carrying out other programs to promote sales, assisting counselors in opening up the market, and taking care of customers. This is set to strengthen Bao Viet Insurance in leading the country’s insurance market.

Bao Viet Insurance was recently named the Best Place to Work in Vietnam’s non-life insurance sector for the second consecutive year. It was also in the Top 3 workplaces within the insurance sector. Rankings were based on salary levels, bonuses, welfare, and work-life balance.

Life insurance players in Vietnam made an impressive showing in 2016, with growth reaching 37 per cent, the highest in a decade. Figures from the Insurance Supervisory Authority reveal that premiums totaled around VND86 trillion ($3.8 billion) last year, representing a rise of 22.74 per cent over 2015.

In particular, total revenue for non-life insurance was VND36.4 trillion ($1.6 billion), up nearly 14.7 per cent, while revenue from life insurance was over VND49.2 trillion ($2.2 billion), up 28.4 per cent. Vietnam’s insurance industry remains dominated by Bao Viet and Prudential. Prudential leads the market in terms of total insurance premiums while Bao Viet has the strongest book of new business.

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