Ms. Susan Loftus, CEO and General Director of AIG Vietnam, talks about the company's strategies and products and its commitment to Vietnam.
■ Can you tell us about AIG’s history in Vietnam?
AIG is the world’s largest insurance organization, with over 64,000 employees serving more than 88 million customers in over 100 countries and jurisdictions around the world. Our presence in Vietnam dates back to 1925. In 1993 AIG opened a representative office, in 2000 AIG Life Insurance was founded, and in 2005 we established our non-life business, AIG Insurance.
AIG Vietnam is proud to be the first 100 per cent owned US general insurer in Vietnam, and has become widely known for its innovative risk solutions, professional staff, and best-in-class customer service. In Vietnam we have a team of more than 150 highly-trained and experienced insurance officers and specialists who work together with our global network of insurance and claims experts.
■ Where is Vietnam in AIG’s global strategy?
AIG aspires to be the world’s most valued insurer to clients, investors, employees, and our market at large. This means we take a longer term view by balancing our pursuit of sustainable and profitable performance with meaningful improvements to our people, product offerings, processes and technologies in the short to medium term.
AIG continues to view Vietnam as an exciting growth market for both our commercial and consumer businesses, as evidenced by our long-term presence here. We continue to invest in all facets of our business and we encourage a culture of innovation in order to best serve the needs of the Vietnamese market now and into the future while delivering value to our Vietnamese customers each and every day.
■ What insurance products does AIG offer to Vietnamese customers?
AIG offers a broad array of risk solutions for both commercial businesses and individual consumers. In the commercial market we offer products such as Property, Marine, Energy, and Trade Credit and specialty products such as Cyber and Directors & Officers Liability, to name just a few. We have a unique package product called “Made in Vietnam Protect”, which is targeted to Vietnamese companies who export their products to Europe and the US. Our individual consumers are served by products such as Travel, Auto, Personal Accident, and Expat Healthcare.
■ What differentiates AIG Vietnam from other general insurers?
Our ability to provide relevant and innovative risk solutions from the small to the very large coupled with superior claims services is what differentiates AIG from other general insurers. Whether the need is as fundamental as insuring a new car or as complex as insuring an oil rig, our priority is to provide clients with the solutions they need to reduce their risks and to grow their businesses. Behind every policy is the AIG commitment of world-class claims capabilities and expertise. Very few companies, if any, have our global network of claims professionals, who can assist with claims wherever they may occur.
■ What does AIG Vietnam do regarding corporate social responsibility?
AIG supports road safety initiatives in Vietnam as part of our global commitment to “Make the World a Safer Place”. In 2014, in partnership with the Asia Injury Prevention (AIP) Foundation, AIG provided almost 2,000 high-quality helmets along with road safety education totaling $30,000 to students, teachers, and staff at the Trung Vuong Primary School in Hanoi’s Hoan Kiem district. This month we will sponsor a kindergarten in Hanoi with helmets and safety education.
The program is part of the road safety initiative, Helmets for Kids, which is conducted in collaboration with AIP, the National Traffic Safety Committee, the Ministry of Education and Training, the Hanoi Department of Education and Training, and the Hanoi Traffic Safety Committee. AIG Vietnam was one of the original companies supporting the start-up of the Protec Helmet Factory, which not only manufacturers the helmets but also employs people with disabilities, who account for 30 per cent of their staff.