The “Creative Labor Certificate” award in 2023 is one of the prominent activities organized by the Vietnam General Confederation of Labor to honor the initiatives, inventions, and creative solutions of workers across the country. Every year, this program receives thousands of initiatives from various industries, among which those with high scientific, technical, or socio-economic value are considered and selected.

In 2023, units under the Vietnam Oil and Gas Group implemented thousands of projects, initiatives, and solutions, estimated to bring in tens of thousands of billions of dong in profit. Among these, 128 outstanding projects were selected and submitted to the Vietnam General Confederation of Labor for consideration for the “Creative Labor Certificate” award.

On October 11, 2024, the Vietnam General Confederation of Labor issued Decision No. 1910/QĐ-TLĐ, awarding the Creative Labor Certificate to 48 exceptional individuals in the 2023 patriotic emulation movement. Among them, Mr. Trinh Anh Tuan, CEO of Hanoi Reinsurance Joint Stock Corporation (Hanoi Re), was honored with the Creative Labor Certificate for the company’s outstanding achievements under his strategic leadership in digital transformation efforts at Hanoi Re.

Over the past four years, Hanoi Re has successfully implemented the solution “Digital Transformation in Business Operations and Corporate Governance”, which is estimated to have generated a benefit of VND 7 billion. This solution encompasses numerous innovations, notably the digitalization of all business and management processes, creating a significant breakthrough in the reinsurance sector with the potential for widespread application. These initiatives have brought notable improvements, not only enhancing the operational efficiency of Hanoi Re but also promoting sustainable development and strengthening the company’s competitiveness in the international market. This solution represents a revolutionary step in comprehensive digital transformation, elevating Hanoi Re to a new level in business management and operations.

Here are the new and notable features of the solution:

Digital Transformation in B2B Operations: Replacing traditional paper-based processes with a digital signature system, optimizing transactions, enabling remote processing, enhancing productivity, and reducing business disruptions.

Improved Corporate Governance Efficiency: Streamlining the management system, digitalizing, and automating data processing workflows. This enables quick, accurate information retrieval, increasing transparency and supporting leadership in making strategic decisions, while timely responding to market fluctuations.

Enhanced Data Sharing & Management Capabilities: Systematically storing data, improving access and information sharing across departments, thereby increasing management efficiency and internal collaboration. This boosts the company’s competitiveness and allows for swift responses to urgent business situations.

Real-Time Management Reporting: The system provides continuous business metrics, assisting leadership in making fast and accurate decisions, while ensuring information security through a strict authorization mechanism.

Connecting with Multiple Partners via Electronic Payment Gateway: Enhancing connectivity among businesses while promoting the development of the domestic reinsurance market, thus increasing competitiveness and operational efficiency within the industry.

ECASH Electronic Payment System: Ecash payment system minimizes paperwork, improves work efficiency, and increases accuracy, while saving time and resources in the electronic payment process.

Thanks to groundbreaking initiatives in digital transformation, in 2023, Hanoi Re achieved revenue of VND 2,457 billion and pre-tax profit of VND 256.4 billion – The record profit in the 12-year history of operation. Additionally, the company contributed nearly VND 54 billion to the state budget, affirming its position in the reinsurance market.

Mr. Trinh Anh Tuan shared: “The application of digital transformation solutions not only enhances the company’s competitiveness but also contributes to the sustainable development of Vietnam’s reinsurance industry. This achievement is the result of the solidarity and tireless efforts of all Hanoi Re employees.”

The awarding of the Creative Labor Certificate to Mr. Trinh Anh Tuan is not only a well-deserved recognition of his efforts and those of all Hanoi Re employees, but it also affirms the company’s pioneering role in the digital transformation process in Vietnam. The Hanoi Re Smart initiative brings significant benefits to the company’s business operations and management, marking an important step in the digital transformation journey of Vietnam’s insurance and reinsurance industry.