As of 2020, there were 71 insurance companies operating in Vietnam, up from one player in the 1990s. According to Statista, the total premium value of the non-life insurance business reached 57 trillion Vietnamese dong in 2020 with 32 non-life insurers serving 97.34 million.
Providing high-quality insurance and risk management services to enterprises across the region, Tokio Marine Insurance Vietnam (TMIV) has established itself as a trusted partner for its customers in a dynamic and competitive industry.
As part of its growth and expansion plans, the company strives to provide the highest standards of service, including clear, prompt client communications by developing efficient workflows that enable seamless processing of high-volume client requests.
“One of the most important pieces of client communication for us is the policy document. Previously, we relied on manual processes to design, edit, and personalize these documents. This approach was so time-consuming, increased production costs, and resulted in long wait periods for customers,” said Hideki Maeomote, general director of TMIV.
The P&C insurer implemented OpenText solutions to modernise its client communication.
“We needed a solution that would streamline and accelerate our document workflows, which is aligned with our values to “Japan Quality” to our customers,” Maeomote continued.
According to TMIV, in modernising its internal processes with OpenText Exstream the company can cut time spent on preparing insurance documents by almost half.
To improve customer experience, TMIV leveraged OpenText Exstream and accelerated the creation of policy documents by 40%, helping the company to process growing volumes of client requests. Manual processes were replaced with streamlined digital authoring and editing tools, cutting production costs and improving customer satisfaction as clients now receive their policy information faster. The solution was also utilised by the company’s Indonesia non-life insurance entity, PT Asuransi Tokio Marine Indonesia (TMI), for policy issuance.
According to James McGourlay, executive vice president, international sales, OpenText, TMIV is transforming standard client communication processes to provide highly effective and efficient client experiences.
