Rejuvenating human resources and working culture - Strategy to bring Chubb Life closer to customers

If we compare a business to a big house, then building the foundation plays a key role, creating a premise to overcome storms and stand firm over time. Chubb Life Vietnam is no exception to that rule. With 18 years of presence in Vietnam, the business has grown sustainably based on a solid foundation of strong financial potential; a culture of integrity, promoting youthfulness; and the guiding principle of "putting people at the center".

As evidence of this, Mr. Nguyen Hong Son - General Director of Chubb Life Vietnam - recently visited offices in Phu Tho, Thanh Hoa, Vinh (Nghe An) and attended a series of recruitment and customer seminars. The activities not only shortened the distance between senior leaders and employees, creating an open environment, but also helped people in the provinces better understand the value of protection - the essence of life insurance.

Good "material" creates a solid foundation

Chubb Life Vietnam is the life insurance business of Chubb Limited from the United States. Chubb Limited has a history of 231 years of development and operates in 54 countries worldwide. The group's total assets as of March 31, 2023 reached 201.4 billion USD (equivalent to 4.73 million billion VND) and capital reached 67.7 billion USD (equivalent to 1.59 million billion VND).

In 2005, Chubb Life began to realize its mission of “insurance is protection” in the S-shaped strip of land. Inheriting the experience and solid financial foundation from the parent corporation, combined with local understanding, Chubb Life offers insurance solutions suitable for each customer group: from protection products for each stage of life or throughout the age from 1 month to 99 years old, products accompanying children, senior products to products that meet both investment and protection needs. Thereby, Chubb Life becomes a solid foundation to help customers reduce the burden of risks.

The practical value chain brought to customers helps Chubb Life build its reputation and increasingly expand its operations across 63 provinces/cities. In 2022, Chubb Life's total assets will reach over VND 17,332 billion, pre-tax profit will reach VND 1,150 billion, maintaining sustainable growth for 14 consecutive years.

When "humanity" becomes the driving force to fly high

Seizing opportunities, staying ahead of trends and having strong finances are necessary factors, but perhaps not enough to talk about Chubb Life's success. Mr. Nguyen Hong Son - General Director of Chubb Life Vietnam, once shared:“Life insurance is a special service related to people, requiring human interaction”. Therefore, over the past 18 years, despite promoting digital transformation and technology development, Chubb Life has not forgotten to focus on people - including both employees and customers.

The value system of “Standards - Professionalism - Ethics” is the compass that guides the staff to fully fulfill the mission of “insurance is protection”. Each employee begins their journey at Chubb Life with the goal of helping customers understand the true and complete value of life insurance. In addition to training courses and in-depth training programs, Chubb Life also builds a creative working environment with a culture of integrity, creating conditions for everyone to maximize their capacity and access open promotion opportunities.

At Chubb Life, the leadership is always close and accompanies to understand the wishes of the staff. Most recently, Mr. Nguyen Hong Son - General Director of Chubb Life Vietnam, visited the offices in the localities of Phu Tho, Thanh Hoa, Vinh (Nghe An).

In particular, these are also the localities where Chubb Life has extended its journey “For the future generation” by joining hands to build 3 schools (2 in Thanh Hoa and 1 in Nghe An). Because for Chubb Life, supporting educational activities will create conditions for children to access knowledge, become useful citizens for society, thereby making practical contributions to the community with sustainable values.

In addition to learning about the working environment, the visit also motivated and inspired the sales team to have more confidence in the humanitarian mission. Mr. Nguyen Hong Son shared:"ItemChubb Life's goal is to be a companion to all generations. Therefore, we have boldly rejuvenated our human resources, thinking and working methods to be closer to our customers. From this strategy, each sales representative becomes a "bridge" of trust, fully fulfilling the commitment to become a solid shield for the breadwinner and family.”.

Understanding that there will be many obstacles on the journey to realizing goals, the leader encouraged employees to be determined, persistent and never give up.

Mr. Nguyen Hong Son emphasized:“When helping customers, especially those in remote areas, understand insurance correctly, from thereimprove quality of life, reduce riskthenIt is also the time for Chubb Life Vietnam members to contribute more value to themselves and society, making the work they are pursuing more meaningful.”.

The strategy of putting people at the center of the business is also the key to helping Chubb Life always be ready to accompany customers in the most difficult times. In 2022, the company spent nearly VND 1,360 billion to pay compensation and accompanying insurance benefits, an increase of 52% compared to 2021. In the first half of 2023, Chubb Life's renewal premium collection rate was also among the highest in the market, reaching 80.4%.

The solid foundation from Chubb Limited, the close supervision of the leadership team, the innovative working environment, and the practical protection benefits provided to customers promise to take Chubb Life's 18-year journey of "building a fortress" in the insurance industry in Vietnam further, conquering new goals.