Insurance sector increases by about 16pct in Q1 2020

09-Apr-2020 Intellasia | Dau tu Chung khoan | 6:02 AM Print This Post

According to statistics of the General Statistical Office, in the first quarter (Q1) of 2020, insurance business recorded an estimated high growth rate of 16%, in which life insurance premium revenue increased by 21 percent and non-life insurance premium revenue grew by eight percent.

To achieve such impressive growth in the current difficult economic situation, insurance companies have quickly and flexibly switched to online transactions, from selling products to providing pre, during and after sale services.

The more important point is that most insurance companies have quickly designed and launched more flexible and timely product packages (particularly health insurance products), increasing support packages to attract customers to buy appropriate insurance contracts.

For life insurance companies, the new recruitment continued to grow (as the policy for agent recruitment has been changed flexibly in the context of disease), and that has contributed significantly to the growth of new insurance premium, etc.

In addition, when the epidemic progresses complicatedly, people have also changed their awareness, searched and purchased more health care insurance.

It is known that in Q2 2020, insurance companies will not only promote online transaction methods from customer care to insurance sales, and also launch more products to the market, still focusing on health care and health insurance.


Category: Finance, Vietnam

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