21:12 (GMT +7) - Thursday 24/05/2018

BUSINESS SPOTLIGHT

Vietcombank-Cardif Life Insurance picks up Golden Dragon Award

Released at: 11:28, 27/04/2018 Vietnam golden dragon awards & Vietnam Excellent Brand Awards

Vietcombank-Cardif Life Insurance picks up Golden Dragon Award

Photo: Vietcombank-Cardif Life Insurance

Insurer named "Best Life Insurer" for third year in succession at VET's Golden Dragon Awards.

by Ngoc Lan

Vietcombank-Cardif Life Insurance (VCLI) has received a Golden Dragon Award from Vietnam Economic Times as the “Best Life Insurer in 2017”.

The Golden Dragon Awards are held every year to honor foreign-invested enterprises in Vietnam for their outstanding achievements in terms of production and business as well as their significant contributions to Vietnam’s economy.

This award is testament to VCLI’s substantial efforts and strong commitment to meeting customer needs by bringing the best products to the market and for its contributions to Vietnam’s socio-economic development.

CEO Ms. Yong Lai Yin said that VCLI is very much honored to receive the award for a third consecutive year and it is a source of pride for VCLI on its ten-year journey in Vietnam and serving its people. "This is major recognition of our efforts in bringing high-quality products and services to the community," she added. "We are in a continuous process of upgrading our core system to support customer services via digital services, which are improving our operational process and providing greater customer convenience and attending to their immediate needs. In particular, we are developing online products to give customers the best benefits and quality services.”

At the end of fiscal year 2017, VCLI recorded growth of more than 80 per cent thanks to its loyal customers, partners and staff, who have trust in the company. It has continued its development in 2017 by launching new products such as BaoAn Tin Dung Uu Viet, Bao An Tai Tri Uu Viet, and Bao An Toan Gia, to meet the increasing needs of customers.

The new “Limited Pay Endowment” made a considerable contribution to the company’s success during the year. With unique and special features, the financial solution meets the savings needs of customers and provides comprehensive protection and healthcare for families.

Established in 2008, VCLI is a joint venture between Vietcombank, BNP Paribas Cardif, and SeABank, providing life insurance products that cover increasing demands in modern life and risk protection. 

VCLI currently offers five products: BaoAn Tin Dung, Bao An Tai Tri, Bao An Tin Dung Uu Viet, Bao An Tai Tri Uu Viet, Bao An Toan Gia, relating to bank loan protection, education, healthcare, and savings. 

The company operates based on the bancassurance model, leveraging banking resources combined with high-benefit insurance products to provide premium financial solutions to families and individuals.

VCLI and Vietcombank have cooperated to distribute the BaoAn Tin Dung loan protection product since 2009.

BaoAn Tin Dung is an efficient financial solution for customers, ensuring that their families will be always protected from unpredictable risks like death or total or permanent disability. Any outstanding balance on bank loans will no longer be a burden for relatives and collateral will not be liquidated, as VCLI makes a payment.

VCLI paid insurance claims in 71 cases last year, with payments of about VND11 billion ($489,000). During the first three months of this year, it made payments to customers borrowing loans at Vietcombank totaling nearly VND3 billion ($133,300).

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