Super typhoon verifies claim management excellence of Vietnam’s leading insurer

PVI Insurance Corporation winning the “Outstanding Claims Management” category at the Country Awards for Excellence 2025 hosted by Insurance Asia News (Hong Kong) affirms its strong service quality, not only within Vietnam but also in the broader regional insurance community.

Claims – The ultimate test for insurers

In recent years, as natural disasters have grown in frequency and intensity, claims handling has emerged as a core metric in evaluating the true value of an insurance provider.

PVI Insurance is not only known for its financial strength and leading market share but also for its transparent, rapid, and customer-centric claims handling process. Major claims are often settled in a short time, especially in the wake of natural disasters, clearly demonstrating PVI’s capability and commitment.

For instance, only 10 days after super typhoon Yagi, the third to hit the Vietnam last year, PVI Insurance issued advance payments to the first affected customers. Within just 45 days, 100% of customers requesting advance payments received disbursements. In total, 944 claims were filed, with an estimated loss reserve of VND3.4 trillion ($140 million).

As of June 2025, nearly a year after Yagi, the most devastating storm in over 70 years, struck, the company had resolved 469 claims, accounting for approximately 50% of the total reported losses.

In the first half of 2025 alone, it processed an additional 253 cases - a testament to its impressive claims handling speed, particularly given that many of these involved large, complex policies requiring multiple stages of assessment. The target is to complete the remaining Yagi-related cases by September 2025, one year after the typhoon.

“PVI Insurance promptly advanced VND10 billion ($381,642 ) to us right after the storm, even while our factory was still in disarray. That payment helped us pay contractors, repair equipment, and resume production in time, thus minimizing losses from the disaster,” said Nguyen Minh Phuong, CFO of Pacific Crystal Textile Co., Ltd., one of PVI’s corporate clients heavily affected by typhoon Yagi.

“Outstanding Claims Management” award - A testament to reputation and market standards

The “Outstanding Claims Management” award by Insurance Asia News is not merely a momentary recognition. It reflects a long-term effort to build internal capacity and set high industry standards. It is also a validation of PVI Insurance’s service quality as Vietnam’s No. 1 non-life insurer.

This award category has stringent requirements, assessing companies on speed, operational efficiency, financial strength, and actual customer satisfaction.

The handling of nearly 1,000 typhoon Yagi-related claims in under six months, rapid response across disaster-affected provinces, and timely, sufficient advance payments to clients are clear proof of PVI Insurance’s organizational capabilities and financial preparedness.

With a solvency margin consistently above 140% and reinsurance partnerships with global leaders such as Swiss Re, Munich Re, and Hannover Re, PVI Insurance has not only the capacity but also the credibility to provide fast and transparent compensation for client losses.

For many consecutive years, PVI Insurance has maintained its market-leading position across all financial metrics. Being honored in the claims category - a domain often under intense pressure - underscores that the company is fulfilling the core mission of insurance: keeping promises when customers need it most.

With the progress made in 2024 and the first half of 2025, PVI Insurance has clearly positioned itself as a pioneer in setting new claims management standards for Vietnam’s non-life insurance sector.