A standout in Sun Life's recent catalogue of innovative solutions is a one-stop insurance transaction service, powered by a digitised data system. This service is encapsulated in a compact Sun Card that houses all insurance information and terms, making it readily accessible to customers anytime, anywhere. This integration accelerates the process of retrieving contract data, saving customers significant time.
|LIT space |
Sun Life's digitalisation efforts don't stop there. The company continues to roll out new solutions on digital platforms to support its business operations, which ultimately deliver convenience and long-term value to customers.
Anything from insurance registration and electronic policy issuance to benefit settlement can be done on an iPad, saving considerable time. Benefit payments are also digitised. Customers can automatically enter request data, automatically verify, improve the payment process. The time to pay benefits from the time the customer submits the claim to the time it is received is only 15 minutes for simple cases, instead of two working days as before.
In terms of benefit payments, Sun Life has ventured into digitalisation again. Customers can now input request data and verify it automatically, leading to a considerable improvement in the payment process. What used to take two working days has been trimmed down to a mere 15 minutes in simpler cases, setting new industry standards for efficiency and customer convenience.
"We are reinventing ourselves as a digital company, with a focus on delivering premium and unique customer experiences through a multichannel interactive multimedia journey," a representative from Sun Life said.
Beyond the realm of digitalisation, Sun Life places an intense focus on humanising its customer experience. This is made evident in its practice of sending each contracting client a personalised welcome letter penned by poet Vi Thuy Linh. Through such thoughtful, small-scale initiatives, customers can sense the insurer's caring approach and unwavering commitment to their journey.
In addition, Sun Life energises its customers and community through regular videos under the "Look by Sun Life" series. These snippets provide interesting insights and highlight Sun Life's positive and impactful activities, packaged in vivid and intuitive imagery.
Pushing the envelope further, Sun Life Vietnam is pioneering an innovative blend of art, culture, and insurance services. The company organised the "LIT - Light on" exhibition and the "Under the Sun" event at their flagship location, attracting around 12,000 and 8,000 visitors respectively. By sponsoring basketball hoops for schools, the insurer wants to enhance the sports spirit and support a healthy and positive lifestyle among the community.
Luc Nhon Ly, CEO of Sun Life Vietnam, highlighted the company's vision, saying, "In addition to financial protection, we aim to enrich the spiritual life of our customers and the community. By creating a new cultural and artistic backdrop and inspiring creativity, we strive to bring good things to life."
Through its solutions and customer-focused approach, Sun Life Vietnam protects nearly 240,000 people, with a total claim payout of VND2.63 trillion ($109.58 million) in recent years. Its strong financial position allows it to invest effectively in people, innovative technology, products, and services.
The insurer's future-proof strategy prepares it for the expected surge in Vietnam's life insurance market. With increased awareness of insurance's role and the recent Law on Insurance Business, Sun Life is poised for robust growth.
|DeLaSol Space |
In late 2022, Sun Life inaugurated a new experience office in Ho Chi Minh City. Known as the Sun Life Flagship, it serves as a unique interaction point for clients and the insurer. Here, customers feel liberated to discuss and share their needs without conventional barriers.
The architectural marvel is inspired by the symmetry of the square, where customers are enveloped in a liberating ambiance. They become an integral part of the dynamic space, breaking free from the shackles of traditional queues at the counter. This openness is not just a fleeting feature, but a tenet of Sun Life's approach as it continuously crafts and launches revolutionary workspaces. The YLounge lobby and the customer experience office in Ho Chi Minh City are shining examples of this ethos.
With each new addition to its geographical portfolio, Sun Life pushes the envelope, challenging the preconceived norms of a conventional workplace. It’s not just about creating an office; it’s about sculpting experiences and cultivating an environment that sparks innovation, invites collaboration, and encourages freedom of thought.
"Our creative spaces are the foundation for creating new experiences and harmonising the optimistic spirit towards good values in life," Ly said.
Through a people-oriented creative strategy, Sun Life aspires to create a harmonious connection between business, culture and art to bring different and profound experiences.
| ||Sun Life Vietnam and TPBank announce exclusive bancassurance agreement in Vietnam |
Sun Life Vietnam Insurance Company Limited (Sun Life Vietnam) and Tien Phong Commercial Bank (TPBank) today announced a 15-year exclusive bancassurance partnership in Vietnam.
| ||ACB and Sun Life Vietnam announce exclusive bancassurance partnership |
Asia Commercial Joint Stock Bank (ACB) and Sun Life Vietnam Insurance Co., Ltd. on November 18 announced that they have formed a 15-year exclusive bancassurance partnership in Vietnam.
| ||Sun Life Vietnam and ACB announce 15-year exclusive bancassurance partnership in Vietnam |
Vietnam's financial institutions are enjoying a rise in bancassurance activities with more monopoly deals coming.
| ||Sun Life Vietnam increases charter capital |
Sun Life Vietnam, a local subsidiary of Canada-based financial group Sun Life, has just been approved by the Ministry of Finance to increase its charter capital from VND5.070 trillion ($220.43 million) to VND14.380 trillion ($625.2 million).