The Viet Nam Insurance Exhibition 2019 featuring 20 booths of domestic and foreign insurance firms and technology companies was part of the Viet Nam Insurance Summit. Photo courtesy of the IEC Group Insurance companies should use more electronic transactions and take advantage of high-tech produts to better compete in the market, a government official said on Thursday in HCM City Speaking at the Viet Nam Insurance Summit, Dr Nguyen Viet Hung, deputy head of the Department of Financial Informatics and Statistics under the Ministry of Finance, said that more IT products should be created by insurance companies to meet customer demand. The Government has been working on legal regulations on electronic transactions and applied technologies in the Industry 4.0 era. Current legal regulations recognise electronic invoices, and a digital financial-service ecosystem is being set up, he said. Deputy Minister of Finance Huynh Quang Hai said the ministry should use IT in managing and monitoring the market professionally and effectively. Developing a safe, effective and sustainable insurance market will help raise long-term capital for the economy and protect financial risks for investors, he said. Tina Nguyen, CEO of Generali Viet Nam, said that insurance firms should increase investment in high-tech applications… Read full this story
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