Prudential Vietnam Insurance Co., Ltd. (Prudential Vietnam) was awarded the ‘International Life Insurer of the year’ and ‘ESG Initiative of the Year’ under the 8th Insurance Asia Awards ceremony held on 27 July 2023, at the Marina Bay Sands Expo and Convention Centre, Singapore.
This is the 5th year in a row that Prudential has been recognized as the ‘International Life Insurer of the Year’ and for the 2nd year in a row receiving the ‘ESG Initiative of the Year” – the award represents for practical projects that directly contribute to solving social problems and sustainable development. This winning streak continues to affirm Prudential’s commitments to responsible business in the Vietnamese market and demonstrates Prudential’s relentless efforts to create positive changes for the community.
Insurance Asia Awards is an annual award organized by the Charlton Media Group. The award honours insurance companies in Asia with outstanding achievements, new and innovative business initiatives, bringing sustainable values to customers and contributing to the overall development of the insurance industry. This year, Insurance Asia Awards has more than 30 award categories for life and non-life insurance companies from Japan, Hong Kong, China, Singapore, Taiwan, Thailand, Vietnam, Philippines, Indonesia, Qatar, Iran, Pakistan… The judges for this year’s award categories are all leaders from Big 4 – the Top 4 biggest accounting firms in the world (Deloitte, EY, PwC, KPMG).
In 2023, Prudential is marking a dual celebration of 175th year of global service and 24th year of presence in the Vietnamese market. The ‘International Life Insurer of the year’ award is the recognition of the market and the industry in Asia, as well as affirming the “role model” proposition of Prudential in Vietnam’s insurance industry.
In 2023, Prudential has implemented many important activities to timely enhance customer experiences, aiming towards a new chapter in the journey of sustainable development. In June, Prudential launched a new and comprehensive life insurance policy contract with only 8 pages and made of eco-friendly materials to summarize the coverage and outlines the major details of the policy.
In addition, Prudential Vietnam continues to promote diversified products that meet the needs of multiple customer segments by making healthcare affordable and accessible and by promoting financial inclusion with flexible premium payments. From these outstanding advantages, Prudential’s products are continuously trusted, received and appreciated by customers, e.g., The innovative universal life product PRU-FlexiProtect of Prudential has been honoured in the “Top 100 Best products – services for families and children 2023” award organized by the Labour & Social Newspaper.
An essential element in the journey to deliver the great customer experiences is an elite team of consultants who is flexible in the use of technology applications, constantly developing skills and dedicated to customers. In Jun 2023, according to the statistics of the Association of Million Dollar Round Table (MDRT)*, Prudential Vietnam currently holds the position of Top 1 in Vietnam and Top 6 in Global in terms of quantity with 1976 MDRT members. At the same time, the company also holds the Top 1 position in the number of MDRT growth and the Top 1 position in the number of repeats MDRT per year in Vietnam.
“I would like to say ‘Thank you’ to the Insurance Asia Awards Committee for recognizing our effort. I would like to thank every individual of Prudential Vietnam, who have contributed to the journey of helping our customers in Vietnam get the most out of life” Ms. Mandy Tran – Chief Agency Officer of Prudential Vietnam shared at the event.
Prudential’s development is always associated with social activities with the desire to build a healthier and more prosperous life for Vietnamese people. With the ‘ESG Initiative of the Year’ award, Prudential once again proves its innovative pioneer position and quickly catches up with the common global ESG trend with long-term projects that help solve social problems. In Vietnam, Prudential is honoured to be one of the partners in supporting the Government of Vietnam in its efforts for the just energy transition partnership (JETP).
In July, Prudential Vietnam, in collaboration with Climate Bonds Initiative (CBI) and supported by the British Chamber of Commerce (BritCham), conducted the “Thematic bonds & Transition investment Workshop” in Hanoi to solicit feedback on how to support the growth and development of the thematic/labelled bond market in Vietnam. The workshop participants had a productive session, where ideas and solutions of how to further develop the thematic/labelled bond market were generated, which clearly showed the willingness in looking forward to working with the Vietnamese Government to sustainably develop the thematic/labelled bond market to support the pathway to achieve Vietnamese Government’s 2050 net-zero target.
(*) MDRT (short for Million Dollar Round Table) is an association founded in 1927 for outstanding financial and insurance consultants, recognized globally and reviewed on the criteria of business results and specific income.