Digital transformation, towards digitizing insurance services

In the digital age, insurance is no longer limited to traditional transactions but is shifting strongly to digital platforms. Digital insurance is not simply the digitization of processes but also a comprehensive change in the perception of both businesses and customers.

Today’s customers expect to buy insurance quickly, transparently, easily look up information and receive compensation conveniently. Thanks to digital platforms such as banking apps, e-wallets, websites and AI chatbots, customers can access insurance anytime, anywhere without having to meet a consultant directly.

This requires insurance companies to think flexibly and apply technology to simplify procedures and improve user experience.

Accelerate digital transformation, providing maximum convenience to users

Grasping the digital technology trend in social life, diversifying insurance product distribution channels and increasing convenience and experience for customers, from 2022, Agribank Insurance has deployed a service of providing compulsory civil liability insurance for motorbike and motorbike owners right on the Agribank plus application.

Customers only need a smartphone with the Agribank plus application installed and registered to easily experience the utility of purchasing compulsory civil liability insurance for motorbikes online in a very simple way with just a few simple steps.

The advantage of this utility is that customers can participate in insurance anywhere, anytime without having to come in person, without having to present vehicle registration papers and without having to pay in cash.

In addition, customers do not have to worry about keeping or losing the Insurance Certificate saved on the phone.

Agribank Insurance promotes digital transformation.

Next in the digital transformation journey, Agribank Insurance's online sales website launched in April 2023 continues to be a solution to change the customer approach, bringing customers new experiences.

Notably, the implementation of sales on online platforms has helped Agribank Insurance not only realize the solution in the digital transformation program, but also take another step forward in its efforts to improve the quality of products and services and bring better experiences to customers.

Designed with the following criteria: simple insurance purchase process, transparent benefit information, and secure security policy, making insurance purchase simple and quick.

On the online insurance website of Agribank Insurance, 3 popular insurance products are being sold and meet the needs of the majority of customers. These products are: "Compulsory civil liability of motorbike owners", "Compulsory civil liability of car owners" and "Comprehensive private home insurance".

Agribank Insurance will continue to bring products such as Account Security, Cardholder Security... to customers through the website's "Shopping Cart" and connect with e-commerce sites as well as other online applications, so that customers can easily access and experience ABIC's products.

With pre-packaged insurance products, each insurance package is transparent about benefits and premiums, meeting the needs and desires of all customer groups to buy insurance. Insurance premium payments are absolutely secure by the VNpay electronic payment gateway.

In April 2024, Agribank Insurance cooperated with Insurtech company SaveMoney to distribute compulsory civil liability insurance for car owners on the ZaloPay platform. Customers can buy insurance online quickly and conveniently through this e-wallet.

In October 2024, Agribank Insurance signed a strategic cooperation agreement with VNPAY to integrate digital insurance products into VNPAY's digital ecosystem. Customers can purchase suitable insurance packages right on the banking application and e-wallet, providing a seamless and convenient experience.

Along with implementing insurance sales through digital channels, from 2023, Agribank Insurance will also build a product package to protect customers against fraud risks through online transactions...

The product was born in the context of increasingly sophisticated technology crimes, customers can lose money in their accounts due to fraudulent tricks such as bank impersonation, phishing, malware while Agribank's customers are mainly farmers, so this product helps minimize financial losses if they unfortunately encounter these risks. Currently, account security is sold directly on Agribank's Agribank plus app.

Towards digitizing all insurance services

Increasing digitization of insurance services.

On March 20, the Steering Committee for Innovation, Science and Technology Development and Digital Transformation at Agribank Insurance held its first meeting. Speaking at the opening of the meeting, Chairman of Agribank Insurance Nguyen Tien Hai emphasized: "Innovation is not just a slogan but must become a guideline in all activities. Heads of units must directly lead, direct, set an example and encourage the spirit of daring to think, daring to do, daring to take responsibility."

In the coming time, Agribank Insurance will focus on promoting innovation, encouraging creative thinking, promoting initiatives and improvements to promote all activities. The company also focuses on developing science and technology, increasing investment in technology and data infrastructure, and devoting sufficient resources to ensure the development of information technology according to the principles of modernity, synchronization, safety and efficiency.

At the same time, the entire company will accelerate digital transformation activities, comprehensively digitize operating processes, especially internal processes, towards streamlining the apparatus, optimizing operations, diversifying training forms and developing human resources suitable to the requirements of the digital age.

Realizing that digital transformation plays a particularly important role in the insurance sector in general and agricultural insurance in particular. Agribank Insurance, with its specific focus on serving farmers and small-scale production and business households, requires a simple, fast and accessible process.

The application of digital technology will help automate the process of granting applications, assessing losses, and compensating, shortening the time it takes to process documents, and improving transparency and operational efficiency.

In particular, Big Data technology and artificial intelligence (AI) will support risk analysis, product optimization, and help provide insurance packages that suit the needs of each region and each customer segment. As a result, agricultural insurance can reach a broader audience, improving the financial protection capacity for farmers against natural disasters, epidemics, and production risks.

To achieve these goals, leaders of units need to raise awareness and political determination, strengthen leadership, directly direct and set an example in implementation, launch a movement of innovative thinking, dare to think, dare to do, dare to take responsibility.

The company will also have a mechanism to encourage and promote innovative thinking in management, operations and business. The meeting also pointed out bottlenecks that need to be removed such as the compensation appraisal system, technology, and bidding, in order to create a premise for stronger development in the future.

With advice from leading technology partners, Agribank Insurance aims to build an information technology development strategy until 2030, with a vision to 2035.

The focus is on comprehensive digital transformation of business processes, digitizing 100% of internal processes, creating a solid foundation for sustainable development. The company also prioritizes investment in upgrading information technology systems, building centralized databases, and applying big data analysis to optimize products and services.

Recognizing the role of people in digital transformation, the company will streamline its organization, build a high-quality workforce, implement in-depth training programs on information technology, digital project management, and attract talent in the fields of technology and innovation.

Agribank Insurance advocates expanding cooperation with technology enterprises, participating in digital ecosystems, and utilizing advanced platforms to enhance competitiveness.

The combination of modern technology and creative thinking will be the key to help Agribank Insurance continue to affirm its pioneering position in the insurance industry in Vietnam.

With strategic steps and determination from the leadership team, Agribank Insurance is gradually realizing the goal of becoming a pioneer insurance company in digital transformation, ready to meet development requirements in the new era.

Source: https://nhandan.vn/chuyen-doi-so-huong-den-so-hoa-cac-dich-vu-bao-hiem-post868378.html