AAA Insurance rebrands on journey towards top 10 non-life insurers

October 23, 2023 | 17:08
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AAA Insurance Company, a prominent player in Vietnam's insurance sector, has undergone a transformation and rebranded itself as AAA Insurance Corporation.
AAA Insurance rebrands on journey towards top 10 non-life insurers

The Ministry of Finance in late September has granted approval for AAA Insurance Company to rebrand itself as AAA Insurance Corporation.

“This change represents a significant milestone in AAA Insurance's evolutionary journey, reaffirming the enterprise's stature, vision, and alignment with its developmental goals in this new era,” said a company representative.

“With a nationwide presence across more than 50 branches, the new name befits the company's extensive reach, reflecting its unwavering commitment to sustainable growth and a stronger foothold in the insurance industry.”

A member of the Bamboo Capital Group, a diversified conglomerate in Vietnam, AAA Insurance Corporation is well-equipped with robust financial resources and a wealth of management experience.

This transformation took shape following its integration into Bamboo Capital Group at the end of 2021, breathing new life into AAA Insurance.

Under this new management, the non-life insurer has adopted a more efficient approach, optimising operational costs, expanding its product distribution channels, establishing a comprehensive branch network nationwide, and placing a strong emphasis on digital transformation and the application of technology to enhance the overall customer experience.

AAA Insurance Corporation has exhibited impressive growth, with its revenue doubling within the first nine months of 2023 when compared to the previous year. This achievement is particularly noteworthy as it occurred during a period when the overall growth of the insurance industry has been relatively sluggish.

The corporation is now setting its sights on a loftier goal – to become one of the top 10 non-life insurers in the country.

Tran Doan Dat, CEO of AAA Insurance Corporation said, "In the first nine months of 2023, our business operations have displayed remarkable growth, and our branch network now spans the entire nation. All key performance indicators unequivocally signal the swift recovery and comprehensive development of AAA Insurance."

"With our highly efficient operation, a team of exceptionally skilled and knowledgeable professionals, a strong commitment to professional ethics, and an unwavering enthusiasm, we are poised to reclaim our position among the industry's leaders. Our objective is to secure a place among the top 10 non-life insurers, delivering the most outstanding market performance in 2024."

AAA Insurance Corporation's product portfolio has been thoughtfully redesigned to cater to the evolving needs of the market.

Products such as motorcycle insurance, vehicle insurance, health insurance, travel insurance, fire and explosion insurance, and condominium insurance have gained significant popularity among customers seeking comprehensive coverage.

The company's renewed focus on innovation, customer-centricity, and efficient operations places it on a trajectory towards becoming a formidable force in the non-life insurance sector.

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