The Insurance Asia News' Country Awards for Excellence 2025 is an annual event that recognizes outstanding organizations in the insurance, reinsurance, and brokerage fields across the Asia-Pacific region. This year's judging panel consisted of financial experts and senior leaders in the insurance and finance sectors from auditing firms and strategic consulting companies within the region.
Only eight awards were presented to the Vietnamese market this year. PVI insurance claimed three of these: Best General Insurer, Vietnam’s Outstanding Claims Management, and Best Digital Insurer of the Year. It is the only non-life insurance company in Vietnam to receive all three awards.
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PVI Insurance is the only company in Vietnam honored in three categories. Photo: PVI |
PVI Insurance is the only company in Vietnam honored in three categories. Photo: PVI
The Best General Insurer award acknowledges PVI's impressive business performance in 2024. According to reports, PVI became the first non-life insurer in Vietnam to surpass 20,000 billion VND in revenue, representing a growth of over 40% year-on-year. Pre-tax profit reached 766 billion VND, with the reinsurance segment contributing nearly 5,900 billion VND, an increase of more than 113%.
The Outstanding Claims Management award recognizes PVI's efforts in supporting customers throughout the claims process. Notably, during Typhoon Yagi in 2024—the most devastating storm in over 70 years—the company responded effectively by implementing special regulations for Yagi-related losses, shortening the claims processing time by 30-40%, with some stages reduced by 80-90%. This allowed customers to quickly resume their business operations and demonstrated PVI's corporate social responsibility.
In the realm of digital transformation, PVI received the Best Digital Insurer of the Year award due to its strategic initiatives, such as the establishment of PVI Digital in 2023 and the integration of artificial intelligence (AI) across the entire insurance process, from policy issuance and loss assessment to customer service. The company also expanded its multi-channel partnerships with e-commerce platforms, digital wallets, banks, and ride-hailing apps, reaching millions of digital customers.
In addition to its success at the Country Awards for Excellence 2025, PVI Insurance also received the Underwriting Initiative of the Year - Vietnam award from Insurance Asia magazine. This award recognized PVI's innovation in product portfolio development, implementing new risk assessment methods, and applying technology to appraisal and underwriting activities. These efforts have enhanced the company's operational efficiency, minimized financial risks, and increased its competitiveness in the international market.
A company representative stated that these international awards validate PVI Insurance's long-term development strategy, its dedication to service improvement, and its commitment to customers over the years. This success also strengthens the company's position in the domestic and regional insurance markets.
Minh Ngoc
