Life Insurance Growth Predicted

According to the latest update of the report of the Bureau of insurance supervision and management (Ministry of Finance), the total cost of the new mining revenue the first year 2015 of the life insurance business was estimated to reach 5,392 .76 billion, up 53.32% compared with the same period a year ago.
This is the growth figure surpassed all predictions of the insurance company.

Business investment-linked insurance had the highest new fee revenue, representing 44.06%; mixed insurance representing 42.91%; death insurance States representing 2.01%; retirement insurance representing 1.95%; the remaining services (lifetime, b., paid periodically) representing 0.09% and supplementary products representing 8.97%.

Explain about the predicted growth rate of the sector in the first six months of this year, representing a few insurance companies have the largest growth for that, has many causes, both subjectively and objectively, to help businesses achieve life insurance sales. In it, the awareness of the people about life insurance is increasingly changing, following the trend to actively find and buy insurance, is one of the important causes of promoting strong growth as well as sustained by the industry.

“I myself recently or receive phone calls thanks to consulting, introduction of any insurance product. This previously very little “, representing an insurance company shares. A further cause of making the client more excitement with life insurance is the insurance companies give the market more and more practical option and close to the actual needs of the client. In it, the insurance products protect client’s interests before the type of illness is always the best selling products.

Additionally, interest insurance companies are paying currently quite competitive compared with bank interest rates, not to mention even more the other value in the product as be covered not only inflation but also the USD USD …

The insurance companies continue to expand Office, tapping new markets, increase employment, reach customers in a variety of styles also contribute to promote mining new revenue. For example, as of the present time, Manulife Vietnam had nearly 40 offices, AIA Vietnam has more than 120 offices (both the Office of the agent), Dai-ichi Life Vietnam has a total number of offices and agents up to 147 Office, continue to affirm the third position on the grid to serve customers all over the country. …

Meanwhile, other brands such as Vietnam, Vietnam Generali Life Hanwha also constantly busy with plans to “open realms”. The number of financial consultants recruitment of Hanwha Life monthly Vietnam always reach over 1,000 people, at the same time, this brand continues to perform network expansion strategy with 20 sales offices in larger cities and 28 offices in the small and medium-sized cities, as of June, 2015. This year Hanwha Life planning network system expansion up to 60 locations across the country.

Along with Bao Viet, Manulife and Prudential Vietnam and AIA are the Vietnam business for new higher extraction fee revenue of over 100 billion per month in June 2015 (according to preliminary statistics of the Department of management and supervision of insurance).

Exchange with ĐTCK, a representative of the insurer to share, not only increased the number of the contract (the number of new mining contracts-main insurance reached 577,703 contracts in the first half of the year 2015) that the quality of new mining contracts is also very stable.

According to the Statistics Bureau of the management and supervision of insurance, the average premium for new mining contracts reached 8.53 million contracts, an increase of 45.5%, compared with the same period last year. The average cost of a mixed contract reached 10.14 million, contract, of a general link contract reached 12.43 million/contract, contract electronics States reached 0.7 million per contract.

VIP customer, customers who have large values of contracts, high charge/year are rising sharply in the client list of many insurance companies is also one of the many causes that generate the growth of the market.

Represents a premium brand, said the company is focusing on customer groups have high and stable income with rates close from 10 million a year or more. The company still has the product of the premium from 7 million/year, however, those who buy insurance with this level in the company not more as rates on 10 million/year.

“The contract is from 5 to 7 billion no longer rare that ever-increasing”, represented a different insurer said.

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