Bao Viet Nghe An: Firm belief, lasting commitment

Going through many stages of development, associated with the changes and advancement of the country and the province such as separating the province, upgrading, changing the name to suit the scale, tasks and structure of Bao Viet Group and its affiliated units, in 2007, the official name of the company was Bao Viet Nghe An Company, the trading name was Bao Viet Nghe An since that day.

Growing up from hardship

Based on the decision to establish Vietnam Insurance Corporation, branches in the provinces were converted into companies. Nghe Tinh Insurance Company was officially established from that time. In 1991, Nghe Tinh province was divided into 2 provinces Nghe An and Ha Tinh, so Nghe Tinh Insurance Company was separated and changed to Nghe An Insurance Company.

In 2000, after 4 years of pioneering and openinginsurance marketlife insurance (starting from 1996), according to the Decision of the Ministry of Finance, the Life Insurance sector was separated from Nghe An Insurance Company to establish Nghe An Life Insurance Company. Since then, Nghe An Insurance Company specializes in trading non-life insurance products while Nghe An Life Insurance Company specializes in trading life products. By 2007, Nghe An Insurance Company was renamed Bao Viet Nghe An Company and the trading name is Bao Viet Nghe An.

Inauguration and handover of charity houses in Do Luong district. Photo: PV

Starting with only 4 officers and employees who diligently and diligently deploy a number of individual insurance operations in Vinh City and assess goods according to the Agreement from the Soviet Union and socialist countries, the facility was only a small room at the Department of Finance. However, clearly aware of its mission to provide the best insurance services to manage risks, bring peace and improve the quality of life for customers,

The company turns the aspiration of constantly reaching further and reaching higher into reality. After 40 years of establishment, the company has a staff of 63 people, more than 7,000 agents, financial and insurance consultants in the province. The company's network of transaction points serving customers covers 21/21 districts, cities and towns with 9 regional transaction offices; 5 business and development departments, 5 management and service departments. Currently, Bao Viet Nghe An is implementing over 50 insurance operations in all 3 groups: Personal Insurance, Property Insurance and Liability Insurance.

During its 40 years of operation, Bao Viet Nghe An has participated in insuring many large properties, construction and installation works inNghe An, North Central region and the whole country, of which the typical projects are Hoang Mai Cement Factory, Ban Ve Hydropower Plant, Nghi Son Thermal Power Plant, National Highway 1A... The company also participated in the insurance program for fishing boats according to Decision 289/2003/CP of the Government, the pilot program of agricultural insurance according to Decision 315/2011/CP; the projects are symbols of the technical level, technology and construction architecture of the Vietnamese Transport industry at that time such as the Hai Van Pass tunnel, Nhat Tan bridge across the Red River in Hanoi...

Hai Van Pass Tunnel insured by the Company. Photo: PV

Aspiration to reach new heights

Since 2010, entering a new phase, implementing the direction of the Group and the General Corporation, on the basis of the Joint Venture Project between Bao Viet Insurance andBao Viet Life Insurance, together distribute products and serve customers, maximize Bao Viet's unique strengths, thereby making business results develop more and more firmly.
Over the past 40 years, Bao Viet Nghe An has been developing continuously, with revenue growing continuously, with a period of growth of 20-25%/year; from a revenue of 5 billion VND in 2005 and 100 billion VND in 2013. Up to now, the Company has always been the leader in revenue and market share in the non-life insurance sector. In 2020, despite facing numerous difficulties caused by the Covid-19 pandemic and facing fierce competition, the Company still achieved a spectacular finish, joining the Club of Member Companies with revenue of over 200 billion VND and entering the top 10 Companies with the highest revenue and growth rate.

With the motto "Prestige - Responsibility - Dedication", Bao Viet Nghe An always considers the implementation of commitments to customers, loss prevention and limitation, and compensation settlement as the top and most important tasks. Along with that, the Company also settles compensation quickly, promptly, and in accordance with the regime for losses under insurance liability. Currently, every year the Company settles compensation for more than 54,000 personal insurance records and more than 4,000 accidents involving cars, ships, goods, construction works and many other properties with compensation amounts up to hundreds of billions of VND.

Signing of coordination regulations between Bao Viet's member companies in Nghe An. Photo: PV

To achieve and maintain the above achievements, the leadership and direction of the Party Committee and the Board of Directors play a very important role. The Party Committee of the Company always fulfills its role and mission as a leader and organizer of the comprehensive implementation of the tasks of the enterprise. The Party members are always exemplary and take the lead; organizations, unions and members promote the role of solidarity, unity and make efforts to build the Company to develop more and more. With the above efforts, the Party Committee of Bao Viet Nghe An Company is continuously recognized as a strong and clean Party Committee. In 2011, it was certified by the Central Organizing Committee and Propaganda Committee, and the Communist Magazine as an "Outstanding Party Organization" at the Program "Nationally selecting and honoring 100 outstanding Party organizations in the first enterprise sector".

Every member must consistently follow the motto of "Complying with the law and customer satisfaction"; next, diversifying products so that customers have more choices, diversifying distribution channels so that customers can be served most conveniently; third, paying attention to and improving communication and consulting for customers; fourth, organizing well after-sales service, promptly and satisfactorily resolving insurance benefits for customers with the highest sense of responsibility, dedication, effort and sharing; finally, pioneering the application of technology in administration, operation, digitalization in management and business; continuing to improve management capacity, taking work efficiency and business efficiency as a measure of staff capacity and business health; actively participating in many activities for society and the community...

Nhat Tan Bridge - one of the key projects of Hanoi Capital, insured by Bao Viet Nghe An Company. Photo: VNA

In the context of increasing pressure and challenges, the Company's Party Committee and leadership always identify culture as the soul of the company.business. Bao Viet Nghe An team constantly builds a dynamic, creative, united and loving working environment. On the one hand, the Company always focuses on cultivating knowledge, training ethics, skills, dedicated working style, responsibility and affection for the staff and party members, but on the other hand, it also boldly recognizes the limitations and shortcomings of the past to thoroughly overcome them. The Company strives to maintain the No. 1 position in terms of Prestige - Market share - Income for employees and customer choice.