The Vietnam Actuarial Conference 2018 hosted by Prudential with the attendance of over 200 actuaries and insurance professionals discussing Big Data More insurance businesses are now planning to apply new technologies in their management systems and improve customer services, while many also plan to develop new products to meet market demand as well as diversify insurance sales channels, according to a survey released by Vietnam Report in June last year. In particular, 82.4 per cent of insurance companies said they were building a Mobile Internet development strategy and 64.7 per cent have adopted strategies based on two key factors in Industry 4.0: the Internet of Things (IoT) and Big Data. Disruptive technology Big Data provides new insights from social networks, telematics sensors, and other new information channels. As a result, it allows understanding customer preferences better, enabling new business approaches, product development, and enhancing existing internal models, … [Read more...] about How can Big Data drive the future of insurance?
Lead way insurance
LONDON, May 17, 2010 (AFP) - British insurance giant Prudential said Monday it will raise 14.5 billion pounds (17 billion euros, 21 billion dollars) from the sale of new shares to help fund a record takeover of Asian insurer AIA. "Prudential today announces further details of the proposed combination of the Prudential Group and the AIA Group, including the terms of its fully underwritten rights issue to raise approximately 14.5 billion pounds," a statement said. The British group had delayed by almost two weeks details of the record rights issue needed to fund the insurance sector's biggest ever takeover, as regulators voiced concerns about the enlarged company's capital strength. Prudential announced in March that it had agreed to buy AIA -- the Asian arm of troubled US insurer AIG -- for 35.5 billion dollars (29 billion euros). It expects to complete the takeover in the third quarter of 2010 while reports suggest Prudential may have to sell its British operations to fund the rest of … [Read more...] about Prudential launches record cash call to buy Asian insurer
Competition a good thing for Vietnam life insurance industry Serving as general director of Singapore-invested Great Eastern Life (Vietnam) as a newcomer to Vietnam's life insurance market, Andrew Yeo shares with the Daily his thoughts about the challenges and opportunities in the domestic life insurance industry in 2009, as well as the company's competition strategy in the long run. Excerpts follow. The Saigon Times Daily: Do you think now is the right time for Great Eastern to enter the life insurance market in Vietnam? - Andrew Yeo: Life insurance is a long term commitment, both from policyholders and life insurance companies. The decision to invest in Vietnam was not made overnight. The evaluation and analysis were rigorous and thorough before the decision was made. We have been here since 2004 and since then we have been actively involved in the development of the insurance industry with the authorities and the business community. As such, our commitment to our investment in … [Read more...] about Competition a good thing for Vietnam life insurance industry
Vietnam is regarded by the international community as one of the developing countries which have made outstanding achievements in economic reform targeting growth and poverty reduction. During the past ten years, Vietnam's economy has been growing fast yet steadly. The average GDP growth rate per annum reached 7.2 percent during the period 2001-2010. The average GDP per capita in 2010 is expected to reach 1200 USD, three times what it was in 2000. As a result, Vietnam is now moving from being one of the poorest countries to lower middle income status. … [Read more...] about VietNam 2/3 of the way achieving the millenium development goals
CEO of AIA Vietnam Stephen Clark Good products, excellent customer service and professional sales people are three core fundamentals in the operation of AIA Vietnam. With the rich experience and deep understanding of the Asian market, the new CEO of AIA Vietnam is expected to help this financial institution become the preferred insurance company in Vietnam. Stephen Clark has an exclusive interview with The Saigon Times Daily. Vietnam’s insurance industry is not yet familiar with you, and the expectation of AIA Group in general and AIA Vietnam in particular towards a CEO is very high. Do you feel much pressure? - Having spent the past six years as CEO for two of AIA’s joint venture companies in the Philippines, I am aware of the very high expectations of the group. AIA is very focused on being an important and integral part of the insurance industry in all the countries it currently operates within. Vietnam is no exception. My aim as CEO of AIA Vietnam is to build on the … [Read more...] about AIA will be preferred insurance company in VN