M-Pro allows Manulife Vietnam to independently evaluate the advisory content of agents across all distribution channels before issuing contracts, ensuring that customers receive complete and accurate advice.
Specifically, after being advised by an agent and having their insurance application approved by Manulife’s Underwriting department, customers will be required to participate in online verification through M-Pro.
Customers will electronically authenticate themselves using face recognition technology and confirm the personal information provided and the content of the insurance advice given by the agent. Important contract details, including product benefits, investment risk notes, premium payment responsibilities, and other terms and conditions are presented in a complete, clear, and concise manner for customers to understand before the contract is issued. Customers will also proactively confirm their participation in the insurance based on their financial ability and needs. The contract will only be issued after customers complete the aforementioned M-Pro process.
Sharing about the M-Pro process, Ms. Tina Nguyen – CEO of Manulife Vietnam said: “After the incidents that occurred in the insurance industry last year, innovation to ensure transparency and professionalism in order to strengthen customer trust in insurance is the top priority and a matter of survival for businesses in the industry. Manulife Vietnam is proud to be a pioneer in this innovation. After the success with M-Pro, we will continue to implement other innovative initiatives in the future to protect the rights and enhance the customer experience.”
Mr. Ngo Trung Dung – Deputy Secretary General of The Insurance Association of Vietnam (IAV) stated: “The implementation of strict solutions to control the advisory and contract issuance process is necessary to ensure customer rights, especially in the context of new insurance business laws with many changes and the need for life insurance market to rebuild trust with customers. I believe that the application of strict processes like M-Pro will solve the existing issues in advisory activities, insurance contract issuance, and desire that other life insurers in the market will study and apply similar processes, contributing to the healthy and sustainable development of the life insurance market, and consolidating people’s trust in life insurance.”
Ms. Vu Thi Thuong Thuong (Ha Dong district, Hanoi) – a customer who has just joined the “Gift for the Future” product package, shared her experience after completing the M-Pro process: “At first, I was wondering why there had to be this additional online verification step. After going through it, I found that this process is not complicated, but it also makes me feel more secure because I can easily check all the information and the content that the agent has advised before. To me, transparency like this is the best.”
With the modern, user-friendly, and easy-to-use M-Pro process, Manulife Vietnam expects sales quality to be maximally controlled alongside the existing control measures such as welcome calls and mystery shopping surveys.
Previously, Manulife Vietnam introduced new contracts that were improved in both form and content, including the addition of a summary page of important information, making it easy for customers to quickly look up when necessary, while minimizing concerns about lengthy and difficult-to-understand insurance contracts.
As a member of the Manulife financial group from Canada, with a history of over 135 years of operation globally, Manulife is the first foreign-owned life insurance enterprise licensed to operate in Vietnam, with a charter capital of over 22,000 billion VND – the highest in the market today. On average, Manulife Vietnam resolves about 50,000 customer claims per month, with a total of 10,000 billion VND in compensations and insurance benefits paid in 2023.
