OPES Insurance Joint Stock Company (a member company of VPBank) has just announced a collaboration with Microsoft utilizing Microsoft Azure to provide customers with the most beneficial digital insurance through advanced technology applications. This cooperation also enhances OPES’s position in the Vietnam’s non-life insurance market.
The collaboration between OPES and Microsoft is expected to open new prospects which help OPES become a pioneer digital insurer by proving digital applications, and streamlining and optimizing operation process and resources. This will also improve business efficiency and risk management.
Through Azure, OPES will take advantage of the most far-reaching cloud footprint in today’s market to save costs in information technology infrastructure investment, optimize system operation, and accelerate digital transformation. OPES is expected to create more smart, safe, and transparent digital insurance products which bring the best value in terms of finance and health to customers, and improve the quality of life. On the other hand, this project is a solution to improve the data security and management which ensure the highest safety for customer information, thereby strengthening OPES’s competitiveness and reputation in the Vietnam’s non-life insurance market.
“OPES and Microsoft collaboration aims to promote digital transformation and product diversity, especially personalized products and services that help OPES in optimizing it’s customer experience while planning long-term business strategies. We strongly believe that the cooperation will accelerate OPES’s position in the digital transformation race as the pioneer digital insurer in Vietnam”, shared Mr. Tung Hoang Dang – CEO of OPES Insurance Joint Stock Company in the kick-off ceremony.
“We are thrilled to collaborate with OPES on their digital transformation journey, with the ambition to enhance performance and competitiveness in the non-life insurance sector. The synergy between Microsoft and OPES is set to advance the digital insurance landscape in Vietnam, paving the way for a future that is not only more efficient but also more secure and customized, as we leverage the full potential of our AI-infused solutions and services,” affirmed Ms. Tram Quynh Nguyen – Country General Manager of Microsoft Vietnam.
Vietnam’s insurance market is rising at a high growth rate of 15% per year, and is expected to account for more than 3% of Vietnam’s GDP by 2025. This is a great opportunity for OPES, one of the companies getting ahead of the digital insurance trend, who is developing a diverse product portfolio, suitable for all customer needs. As a newbie which is only five years old in the non-life insurance market, OPES has quickly affirmed trust and a strong reputation with customers. They soon realized the power of technology and considered it as one of the driving forces and a fulcrum of growth. Until now, OPES has made remarkable achievements with 140 million insurance contracts, clearly demonstrating the insurer’s utmost success in its efforts to drive the digital transformation in the management and operations of insurance contracts.
OPES’ collaboration with Microsoft is a step forward in realizing their comprehensive digitalization strategy, helping the insurer improve its adaptability and flexibility in creating technology-integrated insurance products that are a breakthrough in Vietnam potential insurance market.