Trade promotion Trade promotion
Insurance SVIC: Affirm trademark by quality service

Draft - In 2008 the country's economic crisis and struggling with the complicated, financial markets, currencies, securities are deeply influenced by, the insurance industry is no exception to the impacts. In this context, the introduction of the Insurance Company SHB - VINACOMIN, now renamed the General Insurance company shares SHB - VINACOMIN, is determined to a great effort of the founding shareholders include Coal Industry Group - Minerals of Vietnam, Saigon Commercial Joint Stock Bank - Hanoi (SHB), Corporation of T & T and other shareholders.

Following the traditional heroes of the coal industry was forged in the four letters of gold "discipline - the mind" with potential and financial strength of the shareholders, SVIC with the motto "Safety for development" has provided best service to customers and aims to be Vietnam's leading companies in quality and efficiency in the field of non-life insurance, gradually reaching out to international markets.

Through three years of construction and growth of the economic indicators of SVIC year is higher than the previous year. In 2009 total revenue was 182 billion plan by 114.3%. Total revenue in 2010 reached 338.7 billion SVIC, by 111% as planned, compared with 85% growth in 2009. After two years of operation SVIC become insurers ranked 13/28 venture non-life insurance companies, accounting for 1.62% market share. Profit before tax reached 25.6 billion, growing 195% over 2009. Dividend rate in 2010 was 6%, 140% growth over 2009. Estimated 2011 total sales reached 390 billion, growing 15% compared to 2010, profit before tax 42 billion, compared with 64% growth in 2010.

With these results, two consecutive years 2009 - 2010, SVIC honored as an insurer only for non-life ministry of Trade Award for service in Vietnam "Vietnam Top Trade Service Awards" and merit of the ministries and other sectors.

* The market conditions for non-life insurance is tough competition today, the company has identified its own development strategy of how to meet customer needs?

- Define human resources is critical, "Man is the greatest asset of the company" because from the beginning SVIC vayngay focused network development, attach importance to attracting high-quality human resources have many years of experience in insurance, finance, regular care and proper methods for training and fostering to raise their professional qualifications for staff in the system. So far SVIC has 15 member companies, 57 insurance office in the provinces and cities across the country, with 439 employees including more than 70% have university degrees or higher, recruitment and training on 1,160 insurance agents.

With a view to work together to build Vietnam's insurance market healthy, beginning in 2009 SVIC signed a comprehensive cooperation agreement with Bao Vietnam, Bao Minh, PVI, PJICO and some other insurers. This has facilitated access to SVIC insured for major projects in Vinacomin and expanding participation in major projects in transportation insurance, energy ... At the same time expanding the opportunities for cooperation not only in the areas of original business insurance, reinsurance and financial investment.

With SVIC sense not merely insurers but also as a consultant on risk management for Vinacomin, SVIC has been working closely with Marsh Group research and development of new products for the insurance for pit of machinery has a high degree of risk of Vinacomin, is expected to sign a contract early in 2012.

In addition, SVIC focused on improving the quality of corporate governance and rapid development and promulgation of the product system, business document management, financial management, investment management ... to ensure the business is convenience-oriented and law. Focus intensive investment for information technology, step by step maintenance management system standard ISO system to build a modern corporate governance to meet the requirements of sustainable development, with high efficiency.

* Orientation of SVIC in the future is what, sir?

- SVIC will balance to determine the harmony between the interests of short-term objectives with the aim to develop stable long-term stable. Besides, also focused on strengthening, stabilizing the network of units and regional offices to ensure efficient operations, such as improving the quality of corporate governance to ensure effective and efficient in all system, continue to implement and improve the quality of training to improve their professional language for employees, strengthen the publicity image, branding SVIC market; file resources to improve service quality in all stages of extraction - evaluation - compensation. Building a network of customer care, professional assessment of compensation, timely, satisfactory manner.

In the following years, striving SVIC earned premium growth of 20% on average, fulfilled the obligation to pay the state budget and other financial indicators assigned by the shareholders.