In the aftermath of Typhoon Yagi, representatives from PVI Insurance Corporation and Vietnam International Adjuster Co., Ltd. (VIA) highlighted the pivotal role of proactive customer cooperation in expediting insurance claim settlements.
This insight was shared by Mr. Vu Van Thang, Deputy General Director of PVI Insurance Corporation, and Ms. Tran Thi Phuong Binh, General Director of VIA, during the seminar "Lessons from Typhoon Yagi" broadcast on April 8 on VnExpress.
In this session, the speakers provided practical perspectives on the assessment and compensation processes following Typhoon Yagi. They highlighted the importance of close collaboration among customers, insurance companies, and assessment units in shortening the time required to process claims and ensuring the rights of policyholders.
Roles of Insurance Companies and Assessors
According to Mr. Vu Van Thang, the primary and most crucial role of insurance companies is to provide timely financial resources, enabling customers to quickly address damages. However, He stressed that insurance is not merely about compensation after disasters, but also about risk prevention and early warnings beforehand.
"Upon forecasts of Typhoon Yagi, PVI Insurance promptly issued notifications to customers, guiding them on asset relocation and reinforcing factories," he stated. The insurance industry offers financial safety solutions, ensuring that policyholders receive swift and timely compensation to mitigate the aftermath of the typhoon. Additionally, the industry provides technical solutions to prevent and minimize losses, both before and after natural disaster events.
On the assessment side, Ms. Phuong Binh noted that VIA has established disaster response procedures drawn from decades of experience. Before the typhoon made landfall, assessors were already on-site, working closely with customers and insurers to evaluate damages promptly and accurately.
"The period immediately following the typhoon is critical for 'rescuing' assets. Timely intervention can salvage significant losses," she remarked.
Furthermore, both experts underscored the importance of transparency and objectivity in the assessment process. VIA maintains stringent control procedures to ensure that assessment results provide a solid foundation for insurance companies to make reasonable payouts, thereby minimizing the risk of disputes.
Customers as a Key Link in the Compensation Process
While insurance companies and assessors have proactively implemented swift procedures, leaders from PVI Insurance and VIA assert that customers play a decisive role in the payout timeline.
"The progress of claim dossiers largely depends on the customers," Ms. Binh affirmed. When a loss occurs, the first step for customers is to immediately notify the insurer and protect the scene to serve as evidence in determining the extent of the damage. Subsequently, providing complete and timely legal documents and related loss records can significantly shorten processing time.
Mr. Vu Van Thang also revealed that just ten days after Typhoon Yagi, the first customers received advance payments from PVI Insurance. After 45 days, 100% of customers requesting advances had been disbursed. The company handled a total of 944 loss cases, with estimated compensation reserves reaching 3.4 trillion VND. Currently, PVI Insurance has completed payments for 38% of the dossiers.
According to the Deputy General Director of PVI Insurance Corporation, this achievement stems not only from strong financial capacity—with charter capital of 3.9 trillion VND and an international credit rating of A- from AM Best—but also from streamlined and synchronized coordination processes among insurers, assessors, and customers.
"Many customers only realize during incidents that they have only purchased mandatory insurance packages, lacking coverage for storms and floods. This omission prevents compensation from being executed. Therefore, transferring a portion of the risk to insurance companies with a relatively low premium is an effective risk management strategy for both individuals and businesses," he added.
At the conclusion of the seminar, the experts affirmed that for the insurance system to operate effectively amid increasingly complex natural disasters, customers should not only be beneficiaries but also partners to ensure that the compensation process proceeds swiftly, facilitating timely recovery.
Source: https://vnexpress.net/khach-hang-gop-phan-quyet-dinh-toc-do-boi-thuong-bao-hiem-4870567.html
