Insurance Asia Awards 2024 honored OPES as Virtual Insurer of the Year

DNHN - OPES Insurance Joint Stock Company was honored as the "Virtual Insurer of the Year" and received the "Auto Initiative of the Year" award at the Insurance Asia Awards 2024 ceremony held in Singapore.

This marks the first time a non-life insurance company from Vietnam has won the "Virtual Insurer of the Year" award at the Insurance Asia Awards, a prestigious program recognizing insurance companies in the Asia-Pacific region organized by Charlton Media Group.

The award recognizes OPES's innovations and effective application of digital technology in the insurance sector, offering optimal operational solutions, product development, and improved customer service. This has been OPES's development direction since its inception, embedding technology as the core DNA throughout the building and development of a pioneering virtual insurer, thereby enhancing the customer experience at every touchpoint. Through digital platforms, OPES's customers and business partners can easily manage contracts, and track claim declarations via mobile apps, websites, and electronic portals. Notably, this award also acknowledges the achievements of digital transformation in Vietnam's insurance industry, keeping pace with global trends.

In addition to the "Virtual Insurer of the Year" award, OPES also won the "Auto Initiative of the Year" award for its flagship product, O.CAR. With O.CAR, OPES has integrated advanced technologies that allow users to track their driving journey after completing a trip, enabling customers to self-assess and improve their driving behavior, promoting responsible and safer driving.

Being honored in two important categories at such a prestigious international insurance award like the Insurance Asia Awards demonstrates OPES's significant progress, quickly establishing its position in the non-life insurance market in Vietnam, particularly as a pioneer in digital transformation.

To achieve these results, in 2023, OPES signed partnerships with major technology firms and quickly implemented key projects such as the CORE solution from Sapiens Software Solutions and a collaboration with Microsoft to leverage cloud technology in insurance. In January 2024, just seven months after starting the CORE project, OPES completed phase 1, successfully transitioning over 6 million customers to the system, fully integrating with OPES's sales platforms and other internal systems.

According to the organizers, OPES completely impressed the jury of esteemed international experts from the Insurance Asia Awards 2024 with its achievements over six years since its founding. OPES has digitized all processes, minimized personnel, and used resources efficiently to achieve gross insurance revenue of over 100 million USD and some of the best financial metrics in the market in 2023, serving over 14 million customers and issuing more than 230 million insurance policies. The company's digital strategy has not only driven significant growth but also improved quality, reaffirming its commitment to delivering new experiences for every OPES customer.

In May, OPES also made it into the Top 10 Outstanding Enterprises in ASEAN at the ASEAN Economic Forum 2024 and the fifth ASEAN Award announcement ceremony. This award further bolstered OPES's reputation, trust, and standing among partners and customers.

With outstanding achievements in 2023 and recognition from prestigious awards, OPES is setting even greater goals for 2024. Leveraging its customer network from the parent group - Vietnam Prosperity Joint Stock Commercial Bank (VPBank) and combining internal capabilities, OPES promises to bring optimal insurance products and solutions closer to customers across Vietnam.

Hanh Nguyen