Mr. Tran Dinh Quan, CEO of Dai-ichi Life Vietnam, spoke with VET about the company's successful results and plans for 2015.
Looking back on 2014, what were the major achievements of Dai-ichi Life Vietnam?
Well, 2014 marked another successful year for Dai-ichi Life Vietnam during its eight years in Vietnam. Despite the economic hardships, we continued to outperform the market with impressive sales results, as new business premiums reached VND965 billion ($44.88 million), an increase of 36 per cent against 2013, total premium revenue reached nearly VND2.55 trillion ($118.6 million), a 37 per cent increase compared to 2013, and preliminary profit has been estimated at VND248 billion ($11.53 million), or 23 per cent higher than in 2013. With this remarkable growth, Dai-ichi Life Vietnam reaffirmed its credibility and premier position as one of the Top 4 life insurance companies in Vietnam. We also expanded the number of our offices and general agencies to nearly 140 nationwide, putting us among the Top 3 regarding network scale.
In June 2014, with nascent fund management operations in Vietnam still facing a lot of challenges, the opening of the Dai-ichi Life Vietnam Fund Management Company, our wholly-owned fund management subsidiary, marked a new stage of development for our business strategy in Vietnam and demonstrated our solid financial strength, our aspiration for growth, and our long-term orientation in the country.
Being at the forefront in providing optimal financial solutions to meet the sophisticated needs of customers, we successfully introduced the Health Care Rider to the market in July 2014. This was the first comprehensive medical insurance plan in the life insurance market, combining the outstanding benefits of in-patient, out-patient and dental care, aimed at providing customers throughout the country maximum peace of mind against all medical and accidental risks.
Last but not least, another key milestone of Dai-ichi Life Vietnam in its eight-year journey in Vietnam was the honor of serving more than 1 million customers, reached on July 21, 2014, which reflected the sustainable growth and ever-increasing trust of our valued customers in the premier Japanese life insurance brand.
What lies behind Dai-ichi Life’s success in Vietnam?
Our great success can be attributed to our consistent sustainable growth strategy and the dedicated devotion and passion for success of our Management Board, employees and financial consultants, who act tirelessly to provide advanced products and quality services as well as sustainable values to our customers and the community.
What are your business plans for 2015?
Following our consistent strategy towards the four primary goals of “Sustainable Growth”, “Customer Service Excellence”, “Operational Excellence”, and “Lifetime Partner”, in 2015 Dai-ichi Life Vietnam will continue to be a pioneer in product innovation, focusing on developing our inner strengths, attracting young human resources, enhancing customer services, diversifying our distribution channels to serve our growing customer base, and supporting the local community, with the aim of garnering the highest level of satisfaction from customers and fulfilling our commitment to being the “Lifetime Partner” of the people and the country of Vietnam.
- Dai-ichi Life