Initiated in 2001, the Golden Dragon Awards has become the largest annual event organized by the Vietnam Economics Times Group in coordination with ministries, localities, and relevant agencies for foreign-invested enterprises (FIEs) operating in Vietnam. With the theme “Vietnam Moves Towards a Green and Sustainable Economy”, the 2024 Golden Dragon Awards were held on April 10 and honored FIEs operating effectively in green investment and sustainable development and making positive contributions to the development of the national economy.

Receiving the title of “Leading Reliable Life Insurance Service” is worthy recognition of the effective business strategy taken by Hanwha Life Vietnam’s Board of Directors and the effort of its entire team in bringing the greatest level of satisfaction to customers, as demonstrated through three key goals: Effective digital transformation, Quick settlement of insurance claims, and Actively implementing corporate social responsibility (CSR) activities.

Regarding digital transformation, Hanwha Life Vietnam launched the Hanwha Life+ mobile application last year, with a youthful, friendly interface and many outstanding features to provide users with a seamless and convenient experience.

It is estimated that about 60 per cent of requests to change policy information and 95 per cent of requests related to insurance claims can be submitted online with a quick processing time. Additionally, eight types of policy-related adjustment requests and 10 per cent of hospital benefit request files can be processed automatically within 3 to 5 minutes.

With Hanwha Life+, operations are streamlined, applications are submitted online anytime, anywhere, and the process is automated, bringing ease, reducing waiting times, and increasing user satisfaction across all ages.

One of the significant results that Hanwha Life Vietnam’s digital transformation strategy has achieved is the effective processing and shortening of response times for insurance claims from customers.

While in 2022 the average time to process insurance claims was about six days, by the end of 2023 this has been reduced by nearly half, to just over three days, with more than 83 per cent of insurance claims being made online. This is a clear demonstration of Hanwha Life Vietnam’s efforts to improve the quality of service and customer care.

By implementing a sustainable development strategy in business activities in Vietnam, Hanwha Life recorded many outstanding business results in 2023, such as insurance premium revenue of more than VND3.8 trillion, and an increase in after-tax profit of nearly 56 per cent compared to 2022, marking the first year the company has erased accumulated losses and operated profitably in Vietnam.

At the same time, Hanwha Life Vietnam’s journey to conquer the hearts of customers has been marked by many loving steps, with a series of CSR activities held in three key areas: Protecting children, Promoting education, and Medical support. Hanwha Life Vietnam’s community activities also receive consensus and response from all employees, contributing to demonstrating a spirit of community service as well as Hanwha Life’s strong commitment to long-term growth with Vietnam.

Specifically, in recent times, Hanwha Life Vietnam has actively cooperated with the government and organizations to continuously deploy projects to build local medical infrastructure, support hospital fees, participate in the humanitarian blood donation program Red Sunday, raise community awareness to prevent child violence, and award hundreds of scholarships to students overcoming difficulties around the country.

Hanwha Life Vietnam also coordinates with education departments to find and nurture talent in the ICT and finance industries by accompanying the “5th Informatics Olympiad in the Central - Central Highlands, 2024” competition, attracting more than 5,000 students from around the country.

With positive values cultivating society and outstanding business results, in addition to the Golden Dragon Award, Hanwha Life Vietnam also received the “Enterprises with significant contributions to the community” CSR award for three consecutive years (2021-2023) from Saigon Times, and was honored in the rankings of the Top 500 largest enterprises in Vietnam for four consecutive years (2020-2023), affirming the effective sustainable development strategy and overall strength of the business.

Hanwha Life Vietnam will continue to promote customer-centric service activities, aiming to become the most trusted life insurance company in Vietnam.