Hanwha Life Vietnam among Vietnam’s Top 10 sustainable businesses
Hanwha Life Vietnam among Vietnam’s Top 10 sustainable businesses
On December 6, Hanwha Life Vietnam was named among the Top 10 Sustainable Businesses in Vietnam in 2017 by the Vietnam Chamber of Commerce and Industry (VCCI). This achievement is proof of the firm’s efforts to achieve sustainable development in Vietnam, not only via business practices, but also via various community-oriented initiatives.
The sustainability review and business rating report is a prestigious annual initiative commissioned by VCCI and the Vietnam Business Council for Sustainable Development (VBCSD).
The report and related event aim to pay tribute to the 100 businesses with the best track record of sustainable development practices. Before being listed, Hanwha Life Vietnam went through serious and demanding assessment based on the corporate sustainability index (CSI), which was designed to measure businesses through three key criteria—economic, social, and environmental influence.
Being present in Vietnam for over eight years, Hanwha Life Vietnam has quickly established itself as one of the industry’s fastest growing businesses. In the span of the last five years (2012-2017), new policy revenue growth was recorded at 41 per cent, 10 per cent higher than the industry average. In addition, second year policy retention consistently remains over 70 per cent.
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 crossing the VND500 billion ($22.01 million) revenue mark, VND150 billion ($6.6 million) higher than its earnings in 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 centre in a bid to become the life insurance firm offering the best customer care services.
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 the whole 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 November 28, in co-operation with Child Fund from Korea and Child Fund Vietnam, the company handed over VND2 billion ($88,000) to the health center of Lang Ngam commune, Ngan Son district, Bac Kan province. This is the third health center to receive a Hanwha Life Vietnam gift dedicated to northern mountainous provinces. The company previously presented similar gifts to two other communal health centers in Hoa Binh province.
Also in 2017, in co-operation with the Ho Chi Minh City Association for Protection of Poor Patients, Hanwha Life Vietnam handed out more than 9,500 health insurance cards worth nearly VND2 billion ($88,000) in total.
Before that, in just three years (2014-2016), 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 ($277,423) from the firm. Additoinally, Hanwha Life is also involved in various projects building “homes of love,” schools, and health centers, providing nearly VND22 billion ($968,779) in sponsorship funds.
“I hope that Hanwha Life Vietnam's efforts will improve the day-by-day living of Vietnamese people. Moving forward, we will be working on many more projects that benefit local communities as a way of saying we are here to stay with the people and the country of Vietnam,” said Back Jong Kook, chairman cum CEO of Hanwha Life Vietnam.
