Founded in 1965 as Vietnam Insurance Company, Bao Viet has blossomed into a financial services conglomerate that includes banking, asset management, and insurance, amongst others. Last year, Bao Viet became the first Vietnamese insurance company to surpass the $1bn revenue mark. Bao Viet operates the largest financial services network in the country with over 180 branch offices in 63 cities.
The company has now upgraded its corporate IT backbone to allow for streamlined internal processes, improved front office operations, and enhanced customer experience – and satisfaction. Bao Viet is recognised as one of the strongest brand names in Vietnam thanks to the company’s relentless dedication to operational efficiency and excellence in customer service.
By exploring – and exploiting – synergies between its six constituent business components – Insurance, Life, Securities, Fund, Bank, and Invest – Bao Viet ensures not only optimum corporate performance but also the sustainability of the company. Baoviet employs over 5,500 people and works with around 40,000 agents, dispersed throughout the country, to market its products and services, and ensure proximity to the client.
Since its earliest days, Bao Viet has promoted and implemented sound governance practices. This includes the adoption of international best practices and a code of conduct that clarifies duties and responsibilities, and creates a solid framework for decision-making processes.
The CFI.co judging panel commends the company on its proactive approach to the pursuit of excellence in corporate governance – and the impressive results attained. The judges declare Bao Viet winner of the 2017 Best Financial Group Governance Award.