GIC was founded on June 19, 2006, with a charter capital of VND 80 billion and headquarters in Ho Chi Minh City. GIC has made many positive changes in terms of business scale, product system, and human resources after 17 years of attempting to reach out in the market.

By 2023, the GIC system will have 21 member companies and a network that spans 60 provinces and cities across the country. GIC is pleased to announce that it has served over 3.5 million individual and corporate customers.

GIC's staff has undergone significant changes as a result of the investment from ERGO Insurance Group (Germany) since 2011, as well as the transformation of the model into a Corporation in 2014. Much in terms of both quantity and quality. The fact that the total number of GIC employees has surpassed 500 people demonstrates this. Simultaneously, GIC is gradually focusing on improving the quality of human resources through short-term training courses, improving welfare policies to attract and retain talent, and welcoming new generation workers.

Besides expanding business scale and improving the quality of human resources, GIC always considers products as a priority for development. Currently, GIC is focusing on developing traditional and convenient insurance products such as Motorcycle, Health, Accident, Home Insurance, etc. As a result, GIC issues more than 150,000 policies per month on average. co-insurance, in 2022 alone, revenue reached VND 2,054 billion.

With its dynamism and efforts, GIC has received absolute trust from domestic and foreign investors, partners, and customers, especially consumer finance companies such as Home Credit, FE Credit, JACCS, Lotte Finance, Mirae Asset, insurtech/fintech units such as MoMo, Smartpay, Igloo and banks such as TPBank, ACB, VPBank, Eximbank, Nam A Bank, OCB...

The insurance industry is gradually digitalizing, which is causing many changes in customer behavior and needs. Before that exciting picture, GIC quickly realized how to turn challenges into strengths. As a result, GIC has resolved to break through with a methodical strategy to meet the increasing customer demands.

GIC implemented a series of projects in the first six months of 2023 to increase the application of technology in business activities serving customers, such as: CRM (Customer Relationship Management); GIC mobile application development; Building a centralized compensation system...

GIC also continuously updates its organizational structure, expands its capacity for management and administration, etc. As evidenced by the fact that at the end of May, GIC implemented digitalization of the working environment, each employee exchanged work on a flat space, and just one phone can manage the entire work, research and application of modern information technology is particularly focused on effective human resource management. This increases productivity while also saving time. The GIC system will soon implement a similar project.

Mr. Phan Hoang Chung Thuy, GIC's General Director, stated: “In order to achieve the goal of being in the Top 10 Non-life Insurance companies in Vietnam by 2025, GIC chooses the direction of business model innovation from a traditional business to a comprehensive digital insurance business with the goal of providing a perfect customer experience”.

GIC has established a position in the financial market as well as in the minds of customers during its operation, significantly contributing to the growth of the non-life insurance industry in Vietnam. GIC, which is entering a new era, is also undergoing significant changes that are imbued with technology, promising a breakthrough speed on the digital transformation track.

Global Insurance Corporation