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VNI expects to reach revenue $43.9 million in 2018

Released at: 10:31, 04/05/2018 What's on

VNI expects to reach revenue $43.9 million in 2018

Photo: VNI

The company is expected to reach big goals this year.

by My Van

Vietnam National Aviation Insurance Corporation (VNI) expects to reach $43.9 million in revenue in 2018.

The company wants to expand its channels through banking, the internet, telesales, insurtech, and application technology in order to best serve its customers and become one of the top 10 businesses. At a conference, they released their 2017 results and implemented their business plan for 2018. Here, they also received the certificate of merit of the Hanoi People's Committee. 

Moved up 5 rankings in market share

In 2017, the Vietnamese economy had many difficulties, but VNI was able to fulfill all the targets assigned by its board of directors. Total revenue reached VND763 billion ($33.5 million), up 39 per cent over the previous year and after-tax-profit grew by 159 per cent,

In terms of market share, VNI has risen by 5 ranks in the insurance market staying in the top 10. The company has been considered to have the leading edge in the insurance market.

Target revenue reached VND1 trillion ($43.92 million)

The world economy is forecast to continue with its high growth rate, but there are still many unpredictable risks. However, VNI remains consistent with its target of "effectiveness – sustainability." The target revenue of VNI is approximately VND1 trillion ($43.92 million), of which 34 per cent is non-aviation insurance revenue. The compensation rate does not exceed 34 per cent, according to Mr. Tran Trong Dung, General Director of VNI in 2018.

To accomplish its goals, VNI has come up with comprehensive solutions. It continues to expand its network, strengthen its image marketing and branding, diversify sales channels, and cooperate with many partners. They also strengthen their channels of selling insurance through banks (Bancassurance), through e-commerce, and by using information technology as the foundation to develop more applications for customers. These applications are used for building online sales websites, online compensation, bill payment, electronic certificates, digital signatures, call centers, telesales, insurtech, and customer care.

Helping the community

In parallel with its business activities, VNI has always paid close attention to social activities such as organizing the loving Mid-Autumn Festival in the North Central Region of Vietnam for the children at the National Institute of Hematology and Blood Transfusion, Ho Chi Minh City Blood Hospital, Da Nang Children Hospital.

In addition, they also send gifts to people in Con Nam, Ba Don and Quang Binh to support the people who suffered heavy losses from storms. In July 2017, VNI was the only insurance company to participate in the program "Red Journey - Connection blood Vietnam 2017." This was a humanitarian program to aid people with anemia that helped save many people. It contributed to education and training youths.

Ms. Le Thi Ha Thanh, Chairman of the Board of Directors VNI, added that aside from having safe, effective and sustainable business development, VNI is also known for its spirit of superior rule of law, responsible for society and community through many programs that VNI has participated in, supported and contributed. These are the core values, which is the culture of VNI in the strategy of building and developing the corporation.

VNI launched the slogan "10 years VNI - For a future - Strongly shine" to celebrate the 10th anniversary of VNI. They expect to reach VND1 trillion ($43.92 million) in 2018 and be in the top 10 list of non-life insurance companies by 2020.  

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