Dealer channel affirms its "trump card" position

Over the past 15 years, Hanwha Life Vietnam has developed business strategies along with commitments to respect the rights of distribution partners and customers, aiming to comprehensively protect the health and finances of Vietnamese people.

The company develops a variety of distribution channels including agency channels (including individual agents, general agents, organizational agents), bank cooperation, online distribution channels, etc. However, the agency channel is still the key business channel, contributing more than 90% of the company's insurance premium revenue. This is also similar to the business strategy of Hanwha Life Group Korea with 77 years of experience, which continues to focus on investing in developing the agency channel and maintaining its position in the proportion of business contribution.

Not only helping to increase revenue, reputable and professional insurance agents also help Hanwha Life Vietnam retain and increase customer confidence in the product, as shown through many financial indicators. Ending the first 6 months of 2023 with many fluctuations and challenges, Hanwha Life Vietnam still maintained the growth of renewal premium revenue, with total insurance premium revenue reaching over 1,900 billion VND. These bright spots are maintained thanks to the invested and visionary nationwide agent distribution channel network.

Currently, the company has more than 38,000 professional financial consultants, 120 general agents, 141 customer service points and 6 business partners, spread across 46 provinces and cities. The entire team wishes to connect with customers not only in an insurance purchase transaction, but also in a long-term, strong connection in the future.

Sustainability - the keyword that helps connect the dealer channel

In order to promote and support the development of the dealer channel, the company always pays attention and makes appropriate investments such as applying attractive remuneration policies, well-designed training and skill development programs, and many large-scale brand marketing programs to support business development activities.

Hanwha Life Vietnam guides agents through a clear career path, transparent benefits, linked to contract retention rates and business quality. The company has a retention bonus policy, based on contract term, to encourage consultants to create more satisfaction to retain customers. If agents have a short-term mindset and do not value the quality of service for customers, they will certainly not receive the benefits they deserve.

Having been with Hanwha Life Vietnam for 10 years, Mr. Ho Van Duc - Director of An Nhon General Agency Office (Binh Dinh) shared: "The time working with the company is a memorable journey with many challenges and glories. My team of consultants and I are always satisfied with the training, support and treatment policies that the company gives to agents, especially always trusting the company's business strategies. We identify this as our solid career, constantly striving to build trust and the highest satisfaction with customers, contributing to Hanwha Life's mission of becoming the most trusted insurance company in Vietnam".

Currently, in addition to the traditional general agency model, Hanwha Life Vietnam is also promoting the Flexible General Agency (Flexi GA) model. The Flexi GA model operates as a "startup incubator" for individuals who are enthusiastic and passionate about distributing life insurance products. The model provides comprehensive support in terms of offices, working facilities, management personnel, training in startup skills, management skills, human development, etc. When the opportunity is "ripe", Flexi GAs will transform into independent businesses, expand and contribute solid values ​​to the local community and society.

The company also develops framework programs for operational management, training and financial support for the sales team, including the Hanwha Lead program for key dealers, the Hanwha Master program for sales managers and the Hanwha Partner program for its general dealers. At the same time, the company is always proactive in reviewing and perfecting dealer management processes, monitoring operations, business processes and customer care... as well as strengthening the supervision of the implementation of business system processes.

Mr. Bui Quang Nam - Deputy General Director of Sales of Hanwha Life Vietnam said: "One of the factors that create the company's success is brand reputation. To do so, respecting the principles of conduct in business is a factor that cannot be overlooked. We manage sales by making agents imbued with and clearly understand the company's business philosophy. If we only rely on sanctions and penalties, the effectiveness will not be sustainable."

"With a solid foundation, the next stage is a great opportunity for Hanwha Life Vietnam to continue to make breakthroughs. Along with perfecting insurance sales models, the company will also promote digital tools to enhance interaction and increase digital financial experiences with users," Mr. Bui Quang Nam added.