Global Insurance Corporation (GIC) had many startups in 2019 as a result of its ongoing efforts to diversify products and services while also improving the quality and efficiency of operations. In comparison to 2018, the business targets were met at a rapid pace.
GIC successfully held a Conference on December 20, 2019, in Quy Nhon city, to summarize business activities in 2019 and implement business plans for 2020. Mr. Ho Nam Thang, Chairman of the Board of Directors, was present. Mr. Phan Hoang Chung Thuy, Chairman of GIC, Mr. Bui Huy Cuong, Chief Financial Officer, Mr. Hoang Thanh Tung, Director of Sales Division, and leaders of member units, Sales Department, Sales Department representative.
According to the Corporation's business results report, the targets were met and exceeded, specifically: total insurance premium revenue in 2019 exceeded VND 1,380 billion, an increase of 9% over 2018, completing 100% of the year plan. GIC made a profit in terms of operations in 2019, with a net gross margin of less than 100%. GIC's retail activities continued to produce impressive results in 2019, particularly the insurance distribution channel through banks (Bancassurance), which grew by more than 30%.
The scene of conference
Mr. Ho Nam Thang, Chairman of GIC's Board of Directors, delivered a speech to direct the company's business strategy for 2020.
Mr. Phan Hoang Chung Thuy, General Director of GIC, delivered a speech at the Conference.
The Board of Directors presented medals to employees in recognition of their ten years of service.
Leaders pose for photos with employees who have worked for GIC for ten years.
Business Unit Leaders actively participate in the exchange and sharing of business experiences.
The entire Conference took souvenir photographs.
The 2019 summary conference is also an excellent opportunity for business leaders to exchange and share experiences in the areas of customer care and distribution system development.
With the message "One GIC One Goal - Chung Mot Muc Tieu," the entire GIC business system will strive for growth associated with operational efficiency in 2020. Total revenue is aiming for VND 1,600 billion, with profit before taxes exceeding VND 30 billion. With more than 500 Bancassurance and Retail links established in 2020, GIC will continue to grow its distribution network in order to meet those objectives, fully implementing the GIC Core system to aid in contract management and grant. co-insurance investing in hiring and training human resources for the business and customer service system, concentrating on creating efficient product lines in each locality.
Following the successes of 2019 and with specific business focuses for 2020, the Board of Directors of GIC believes and anticipates that with the cooperation and efforts of all GIC officers and staff, they will be significant contributors to success, leading to a breakthrough in 2020.
