No enemy is permanent, only interests are forever. The relationship between Ngoc Lan and MVI Life under Manulife is the clearest proof of this classic saying.
The famous drama between actress Ngoc Lan and MVI Life Insurance (under Manulife Vietnam) has temporarily ended with a "happy ending", after being pushed to a dramatic level.
At first, Ngoc Lan said she was deceived by insurance. The online community was seething, sympathizing, and defending her after she cried during the livestream. Many customers were startled and read the contract again and panicked, it turned out that they were also deceived by the insurance agent like this actress?
After the incident was pushed to a climax, both sides unexpectedly held a press conference to apologize to each other. Here, Ngoc Lan and the Director of MVI Life expressed their sympathy and shared their feelings with each other.
Seeing Ngoc Lan's radiant face during the press conference, completely different from her tearful face when she livestreamed to accuse the insurance company, some people commented: "It turns out she wasn't scammed by the insurance company", but will we be able to have the insurance company cancel the contract and remove some items that we don't agree with like her?
Many victims are busy claiming benefits because of the "trap" insurance companies have with their contracts, only wishing: "If only I were as famous as Ngoc Lan, my complaints would be heard and thoroughly handled by the authorities and insurance companies."
Looking back at the above drama, it can be seen that both sides gained and lost after this incident.
First is the insurance companies in general and MVI Life (Manulife) in particular. The reputation of insurance companies has seriously declined after Ngoc Lan and a series of customers accused the consulting agents of being ambiguous and the contracts of “inserting” terms unfavorable to the insured.
Along with the decline in reputation, new insurance premium revenue of businesses may be affected by such distrustful incidents.
As for MVI Life, although the company has "scored" in working with customers to resolve the media crisis, it is inevitable that public opinion has been seething with skepticism since yesterday. The online community thinks that Ngoc Lan "turned the table" and when the benefits are redistributed, she is willing to ignore them. But many people who have fallen into the same situation as her when signing an insurance contract, will the insurance company give them the favor of changing the terms in a favorable direction like her?
The fact that Ngoc Lan did not take her eyes off the paper while speaking at the press conference showed that she had not even had time to memorize her "lines".
As someone with years of experience performing in front of the camera, it would be difficult for her to lose her composure to the point of having to hold up a piece of paper to read her mind in front of a group of people.
From here, insurance companies in general, especially Manulife and MVI Life, will need a long time to gradually regain their image and trust from customers.
Previously, MVI Life had to explain to the Ministry of Finance about the insurance contract with actress Ngoc Lan.
The losses of insurance companies have many consequences for related parties, including insurance agents. Many bank employees said they are at risk of not completing their targets (bancassurance) because customers have turned their backs on insurance.
Insurance agents are also becoming frustrated because customers are now cautious and wary when invited to participate in insurance.
Many insurance contracts that have just been signed and are in the 21-day period for customers to "reconsider" have been canceled, leaving insurance agents "unable to react".
Even many customers who have participated in insurance for a long time, now suddenly look back at the insurance term in their contract. If they only now realize that the terms are not suitable, will the insurance company accept the change like Ngoc Lan, or will they have to accept the cancellation and lose all the money they have paid?
As for Ngoc Lan, MVI Life supported her with some terms in the contract, instead of having to regretfully cancel the contract and accept losing more than 2 billion VND in fees paid over 3 years.
For customers who accept to lose the premium amount paid to cancel the contract, the insurance company will automatically receive the premium amount the customer has paid, without having to worry about paying insurance benefits to the customer in the following years.
However, this is only a short-term benefit. Overall, in the long term, this is a big loss.
After insurance scandals, people will be updated with more knowledge about life insurance, they will be more alert and careful before deciding to work with insurance agents.
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