Choosing general insurance, choosing comprehensive protection

Insurance is an important part of risk management in every organisation or even for an individual. Whatever the causes are, accidents may bring many problems like damaged assets, money loss, operational delays, which could result in bigger impact on the society and the economy, in general. In such cases, having an insurance protection is inevitable and essential to each individual and company.

As the average standard of living in our society becomes higher and higher, people’s needs are also becoming more and more varied – we own more valuable properties like houses, cars, travel more frequently and so on. Along with that comes higher risks. In order to be able to fully enjoy the modern world’s comfort, many families choose to put their trust in general insurance to protect their most important things.

General insurance provides the insured a commitment from the insurer to pay compensation for any loss of assets or people. These losses can arise from financial risks, natural calamities, thefts, travel accidents, for instance. General insurance is one effective way to cope with the consequences of such incidents.

It is now the time for you to stop asking the question “Is general insurance really important?” and think about a strong assurance for your prized assets instead.

Contrary to life insurance (which many Vietnamese consider a long-term investment), non-life insurance usually comprises a much shorter contract. However, the compensation which offers protection to the customers will depend on the losses suffered from an event. There are many types of general insurance including asset insurance, civil liability insurance, marine cargo insurance and those that are closer to our everyday lives such as home, motor, travel, fire insurance, to name a few.

When you can never anticipate what is waiting for you ahead, having general insurance protection is the way you can prepare for unforeseen incidents that can occur to minimise unwanted consequences. General insurance can help put you and families back on their feet and restore stability in people’s lives. Based on the very simple principle of sharing risks, general insurance is seen as a form of mutual support in a community where nobody has to deal with unexpected incidents all by themselves. This is also where the humanism of insurance comes from. 

General insurance in Vietnam is becoming more and more well-received. According to the Sustainable Growth Index provided by the Insurance Regulatory Authority (Ministry of Finance), in the first seven months of 2017, the gross fee revenue in the general insurance sector is approximately VND22.924 million, marking an 11.53% increase over the same period in 2016.

Choosing the right insurance company with suitable insurance solutions will also maximise the effectiveness of insurance. For many, one of the key criteria in choosing a non-life insurance company is considering how fast and efficient it is when making a claim. In addition, the capacity to provide effective and customisable insurance solutions as well as high service quality and sincerity is considered important to consumers.

“I have just taken a loan from a bank to buy a new car to work with Uber. For me and many others, this is a huge investment, so I’m looking for vehicle insurance to protect this asset. I’ve reached out to different insurance companies but am still considering which will have the most effective insurance solution for my case with easy and seamless procedure” – Mr. Hoang Long (Hanoi) shared.

Deeply understanding this value, we at MSIG Vietnam are committed to build, maintain and nurture long-lasting relationships and partnerships with both local corporates and individuals. Being a Japanese company with over 100 years of experience in the general insurance field, we embody the Japanese attributes of professionalism and dedicated, quality services in our work and we aspire to become a remarkable trademark in Vietnam’s non-life insurance market and accompany you through life’s ups and downs.

With 29 other operating companies, we aim for paving the way for better insurance solutions for retail consumers to choose from.