Strictly manage the quality of consulting and issuing insurance contracts with M-Pro application

The process of authenticating and monitoring the issuance of insurance contracts via the M-Pro application is expected to be piloted at the end of November 2023 before being officially applied in early 2024.

According to the new process, after the customer has been consulted by the agent, submitted an insurance application and gone through the appraisal process, the insurance contract will not be issued immediately but the customer needs to perform an additional step of information verification to help the company monitor the quality of consultation as well as proactively protect their own rights.

Customers are required to access the M-Pro application to perform electronic identification and check the personal information provided. At the same time, important information about the insurance contract, including product benefits, notes on investment risks, premium payment responsibilities and other important terms are presented fully, clearly and concisely, so that customers can clearly understand and confirm before issuing the contract. Customers will also self-confirm their participation in insurance on a voluntary basis, in accordance with their financial capacity and insurance needs.

Manulife said that the M-Pro contract issuance verification and monitoring process is designed to be user-friendly and easy to use for all customers, helping the company to independently check and evaluate the consulting content of agents across all distribution channels before issuing contracts, in addition to previously available forms such as Welcome calls and Mystery shopping surveys.

This new process not only aims to ensure transparency and efficiency, improve the quality of agent consultation, but also helps to raise awareness, understanding and proactive role of customers in the process of learning about and participating in life insurance.

Upgrade your contract to keep customers informed of important information.

As part of its sales process improvement activities, Manulife said it is preparing to release a new insurance contract, upgraded in both content and form. This new contract will be accompanied by a summary table containing important information that customers need to pay attention to, such as product benefits, exclusions, insurance period, mandatory premium payment period, premium payment period, contract review period, etc., to help customers grasp the most important information of the contract and easily look it up during the insurance participation process. The summary table is expected to help customers reduce their worries about insurance contracts being too long and containing many difficult-to-understand terms.

With the launch of the M-Pro contract issuance verification and monitoring process and important improvements to the insurance contract suite, Manulife Vietnam is a pioneer in efforts to improve the quality of agent advice and increase the transparency of insurance contracts.

It is known that, up to now, Manulife's total investment in the Vietnamese market is more than 22 trillion VND. On average, Manulife Vietnam pays nearly 42,000 claims for customer benefits each month, with total compensation and insurance payments in the first half of 2023 reaching more than 8,800 billion VND.