To promote the development of insurance that is meaningful to the community, contributing to stabilizing social security in Vietnam

To promote the development of insurance that is meaningful to the community, contributing to stabilizing social security in Vietnam

According to Vietnam's Decision 808/QD-BTC, the implementation tasks of the Vietnam Insurance Market Development Strategy to 2030, for example, are as follows:

- Promote enterprises that are qualified and have the need to list on the stock market.

- Promote the development of products that are meaningful to the community and contribute to stabilizing social security, such as micro-insurance, health insurance, voluntary retirement insurance, green insurance, etc.

- Promote insurance and reinsurance businesses that are eligible for credit ratings.

- Encourage insurance enterprises to develop diversified new product lines, focusing on customers.

- Encourage innovation in the method of developing and designing insurance products associated with the industrial revolution; Insurance products are designed in the direction of personalizing the characteristics and needs of customers.

- Promote the application of electronic transactions, electronic signatures, and electronic contracts in insurance transactions, ensuring safety, security, and reliability.

- Diversify distribution channels in the direction of best serving insurance buyers and creating conditions for customers to easily access insurance.

Professionalize distribution channels through the issuance of regulations or codes of ethics; building a system to evaluate the quality of the distribution channel system.

Standardize insurance distribution activities through institutional agents and banking agents; improve the quality of insurance agent training and exams

- Improve the quality of human resources, especially human resources in the new fields specified in the Law on Insurance Business, such as risk management, risk-based capital, financial management of insurance companies, information technology, etc., through training, recruitment, payment mechanisms, etc.

More details can be found in Decision 808/QD-BTC, effective from the date of signing.

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