Hanwha Life Vietnam: Top 10 sustainable business in Vietnam in 2017

Nguyen Nha Ngoc Tram Anh, Chief Operations Officer of Hanwha Life Vietnam, accepted the Top 10 Corporate Sustainability 2017 award

This achievement is a convincing proof for the firm’s efforts for sustainable development in the Vietnam market, not just in terms of business performance, but also the many expedient

The sustainable business review and rating in Vietnam is a prestigious annual initiative commissioned by the Vietnam Chamber of Commerce and Industry (VCCI) jointly with the Vietnam Business Council for Sustainable Development (VBCSD) to pay tribute to 100 forefront businesses with an excellent track record for sustainable development. Before being listed, Hanwha Life Vietnam went through serious and demanding assessment based on the corporate sustainability index (CSI), designed as a measure of how a business is valued through three key criteria – economic, social and environment influence.

Over the 8-year-plus in active existence in Vietnam, Hanwha Life Vietnam has quickly launched itself among businesses with the most impressive growth performance in the insurance industry. In the span of the last five years (2012-2017), new policy revenue growth records 41% on average, 10% higher than the industry average. In addition, 2^nd year policy retention consistently remains at over 70%.

Hanwha Life Vietnam has completed installing 100 customer service outlets in mid-August, 2017, four months earlier than planned. By mid-October, the company reached another milestone by cracking the VND500 billion revenue mark, VND150 billion more than the same period of 2016. In the first nine months of this year alone, the company recruited 19,000 new financial consultants.

Hanwha Life Vietnam has been investing intensively in systems, technology and applications to upgrade service quality, putting in operation a Call center in a bid to become the life insurance firm offering the best customer care. The company has also diversified its product lines by unveiling the new “Hanwha Life – Health is Gold” – an all-encompassing health insurance and user fee support product with coverage spanning all of Vietnam, Asia and the world.

Not just making general contributions to the local economy, Hanwha Life Vietnam has been a close companion of the Vietnamese people through its pragmatic community activities. On Nov. 28,, in cooperation with Child Fund (Korea) and Child Fund Vietnam, the company handed over a meaningful gift to the health center of Lang Ngam commune, Ngan Son district, Bac Kan province, for an amount equivalent to VND2 billion. This is the third health center yet to receive a Hanwha Life Vietnam gift dedicated to Northern upland provinces. The company previously presented the gift to two other commune health centers in Hoa Binh province.

Also in 2017, in cooperation with HCMC Association for Protection of Poor Patients, Hanwha Life Vietnam handed out more than 9,500 health insurance cards, worth nearly 2 billion dong in total. Before that, in just three years between 2014 and 2016, poor people from 14 provinces and cities all over the country received more than 27,260 health insurance cards, worth an estimated VND6.3 billion from the firm. Added to that, Hanwha Life is also involved in various projects building “homes of love”, schools and health centers, providing nearly VND22 billion in sponsorship fund.

“I hope that with these efforts of Hanwha Life Vietnam's, the quality of living of Vietnamese people will improve and get better every day. Moving forward, we will be working on many more realistic projects that benefit local communities as a way of saying we are here to stay with the people and country of Vietnam”, said Mr. Back Jong Kook, Chairman and CEO, Hanwha Life Vietnam.