M-Pro not only empowers customers with a comprehensive understanding of their policy before signing but also allows Manulife Vietnam to independently assess the quality of advice provided by its agents. — Photo courtesy of Manulife Vietnam

HÀ NỘI — Manulife Vietnam’s sales verification and supervision process, M-Pro, has been recognised as the 'Digital Transformation Initiative of the Year' at the Insurance Asia Awards 2024, one of the most prestigious awards of the insurance industry across the Asia Pacific.

The judging panel of the Insurance Asia Awards 2024 highly commended Manulife’s M-Pro process for its pioneering and innovative approach, the significant value and benefits it brings to customers and its overall efficiency and contribution to the insurance industry.

Launched in early 2024, M-Pro enables customers to digitally verify their identity and confirm their personal information. At the same time, customers are offered the opportunity to review key aspects of their insurance policy, including benefits, premium payment details and other investment risk disclosures.

This initiative not only empowers customers with a comprehensive understanding of their policy before signing but also allows Manulife Vietnam to independently assess the quality of advice provided by its agents, ensuring that customers receive a thorough consultation.

According to Manulife's internal survey, 99 per cent of customers highly appreciate the transparency of the M-Pro process. The same percentage of customers also reported feeling more confident toward their insurance agents, Manulife and their chosen insurance products.

Approximately 96 per cent of surveyed customers completed the M-Pro process without requiring any assistance, demonstrating its user-friendliness and suitability for a wide range of customers.

Beyond the M-Pro process, which is a significant highlight in Manulife Vietnam's digital transformation journey, the Canadian insurer has also implemented several other notable digital initiatives. — Photo courtesy of Manulife Vietnam

Tina Nguyễn, CEO of Manulife Vietnam, said: "Effective digital transformation is the key to improving customer experience while enhancing transparency, safety, and speed in customer service and insurance business operations.

"M-Pro is a bold innovation, being used for the first time in the insurance industry. We are delighted that this initiative has been positively received by our customers. Soon, Manulife Vietnam will launch additional digital initiatives such as 24/7 Customer support and the Medallia customer feedback system (tNPS) to provide even more convenience for our customers."

Việt Nam's life insurance market is undergoing a transformation and a strengthening of customer trust. As a result, efforts to increase transparency in the insurance industry have become crucial for businesses in this sector. Digital transformation has emerged as a vital tool to achieve this goal, aligning with global trends, especially in dynamic markets like Việt Nam.

Being recognised as the 'Digital Transformation Initiative of the Year' at the prestigious Insurance Asia Awards 2024 demonstrates Manulife Vietnam's rapid and significant progress after a year of facing industry-wide challenges, solidifying its position as a pioneer in the digital transformation race, the company said in a note.

Beyond the M-Pro process, which is a significant highlight in Manulife Vietnam's digital transformation journey, the Canadian insurer has also implemented several other notable digital initiatives.

These include upgrading the online claims platform (eClaims 3.0) with advanced features to reduce average claim handling time to just 1.6 days, launching the Manulife Vietnam app, providing a comprehensive solution for customers to manage their policies, track claims, and access other useful features and introducing the M-PA smart assistant app to enhance the efficiency of its agency network.

Previously, Manulife Vietnam was honoured by Vietnam Report as one of the top 10 most reputable life insurance companies in 2024, with the strongest financial capacity in the market. — VNS