Bao Minh Keeping the Faith
Keeping the Faith
Overcoming numerous difficulties and
challenges, from unpredictable economic fluctuations to fierce competition on
the insurance market, Bao Minh Insurance Corporation asserts the top position on
non-life insurance industry and confidently affirms the brand value of Bao Minh
Insurance on the market.
cooperation agreement on IT development signed by Bao Minh Insurance and IBM
Building and maintaining trust
the strategic vision "Building Bao Minh into a leading non-life insurance
company in Vietnam operating in a financial and insurance service,” Bao Minh
always attaches importance to improving the quality of services and products,
developing highly capable human resources and professional insurance
consultants, and expanding nationwide distribution channels. In addition, the
company diversifies, advertises and introduces its products to customers. The
insurer also simplifies all procedures towards “single window compensation”
direction, standardises insurance regulations, boosts up transparency of
insurance terms, conditions and premiums, and enthusiastically advises clients
on all aspects. Thereby, the corporation creates the trust of customers.
secrets to success, Bao Minh Insurance General Director Le Van Thanh said:
“Since its inception, Bao Minh has studied the insurance market, built suitable
development strategy and roadmap. Pride, also the secret to success of Bao Minh,
is the experienced, dedicated staff.”
Minh's success is evidenced by impressive revenues over the years. Particularly
in 2011, despite domestic economic volatility, Bao Minh's total premiums reached
VND2,962 billion, up 12.5 percent over the previous year. In 2012, the
corporation expects revenue to reach VND2,947 billion, compensations on revenues
to reduce to 47 percent, and profits to climb to VND193.2 billion.
firm continues restructuring the apparatus, developing distribution channels,
diversifying new products like attorney liability insurance, notary liability
insurance, physician professional insurance, export credit insurance,
agriculture insurance, etc.
satisfied with its business successes, the Bao management actively explores new
IT applications to improve governance and administration like SAM and SAM plus
software for agent management, SAP for accounting statistics. Especially, Bao
Minh is proud to be the first non-life insurance company to apply insurance
management core software called core-Insurance, which helps boost strategic
planning and customer care.
Earnest desire for leadership
Minh’s today results have created the foundation for increasing the popularity
of "Bao Minh Insurance" brand name on the market. Defined to be a leading
non-life insurance company in Vietnam with “effective and sustainable”
operations and “wholehearted” services, Bao Minh set outs strategic objectives
with specific targets for in the 2011 - 2015 period.
achieve its objectives, Bao Minh always focuses on strengthening and stabilising
networks, restructuring capital portfolios, mobilising all resources to develop
core non-life insurance businesses. At the same time, it improves the quality of
corporate governance, raises qualifications of staffs, and enhances service
quality for customers.
Minh is committed to providing best services to customers, meeting expectations
of shareholders, maintaining its position as a successful leading non-life
insurance company in Vietnam in both quality and performance. Bao Minh President
Tran Vinh Duc stressed: “Above any solutions, the most important is the
closeness and unity of the entire company and agents. Therefore, the unity will
continue to be promoted in the future to power up its sustainable development.”
young, dynamic and experienced workforce and specific, detailed and clear
planning, Bao Minh has always strengthened its position as a prestigious brand
in the market, kept the trust of customers, and contributed to the sustainable
development of Vietnam's insurance market.