PVI Insurance honored with prestigious international awards

2025 marks a proud milestone for PVI Insurance Corporation (PVI Insurance), as it has been consecutively recognized with prestigious accolades from top-tier institutions in the Asian insurance industry.

These achievements reflect objective recognition of the company’s outstanding business performance, relentless innovation, and steadfast commitment to excellence.

At the Country Awards for Excellence 2025 hosted by Insurance Asia News (Hong Kong), PVI Insurance stood out as the only Vietnamese insurer honored in all three non-life insurance categories: Best General Insurer, Outstanding Claims Management, Best Digital Insurer of the Year. Remarkably, only eight awards were granted to Vietnam-based companies in this year’s edition.

The Country Awards for Excellence is one of the region’s most prestigious recognitions, celebrating insurers, reinsurers, and brokers who demonstrate excellence, innovation, and significant contributions to the insurance market across Asia.

Winners are selected by an independent judging panel based on rigorous evaluations of market insights, operational capabilities, and innovation efforts.

The “Best General Insurer” title for PVI Insurance was awarded in recognition of its exceptional performance in 2024. PVI Insurance became the first non-life insurer in Vietnam to surpass VND20,000 billion ($766 million; exchange rate: VND26,112 /USD) in revenue - marking a 40% year-over-year growth.

Additionally, the company achieved VND766 billion (about $29 milliom) in pre-tax profit, exceeding its target despite challenges from natural disasters and market volatility.

Reinsurance revenue soared to VND5,885 billion (about $225 million), a remarkable 113% increase, solidifying PVI Insurance’s leadership in market share, revenue, and financial strength.

Alongside business achievements, PVI Insurance earned the Outstanding Claims Management award for its strong commitment to customer service and efficient claims handling.

During Typhoon Yagi in 2024, the most devastating storm in over 70 years, PVI Insurance swiftly enacted dedicated protocols and enhanced its claims processing software to losses caused by the typhoon.

As a result, the company reduced claims processing time by 30-40%, with some stages shortened by up to 80-90%, enabling clients to recover and resume operations with minimal delay. These improvements not only enhanced service quality but also reinforced PVI Insurance’s strong sense of social responsibility

The Best Digital Insurer of the Year award recognizes PVI Insurance’s comprehensive digital transformation and continuous innovation. The establishment of PVI Digital in 2023 was a pivotal move, allowing the company to effectively integrate artificial intelligence (AI) into the entire insurance value chain - from policy issuance, claims assessment, and customer service to payout processes.

PVI Insurance has also expanded its digital partnerships across e-commerce platforms, e-wallets, ride-hailing apps, and banking channels, reaching millions of digital customers. This progress has positioned PVI Insurance as a technology pioneer within Vietnam’s insurance industry and beyond.

In addition to its success at the Country Awards for Excellence 2025, PVI Insurance also received the “Underwriting Initiative of the Year – Vietnam” from Insurance Asia (Singapore). This award celebrates PVI Insurance’s groundbreaking innovations in diversifying its product portfolio, implementing new risk assessment methods, leveraging advanced technologies and AI in underwriting and policy issuance.

These initiatives have improved operational efficiency, mitigated financial risks, and strengthened PVI Insurance’s competitiveness in global insurance markets. It also reflects the company’s adaptability to changing market dynamics and its leadership in embracing digital transformation.

These international accolades are a well-deserved recognition of PVI Insurance’s remarkable achievements. They represent the result of unwavering dedication, strategic vision, and a strong commitment to PVI Insurance’s core values of professionalism, innovation, and customer-centric service.

These accomplishments have further cemented PVI Insurance’s reputation and trust among domestic and international clients and partners, reinforcing its leadership position in Vietnam and throughout the Asian insurance market.