Post – Telecommunication Joint Stock Insurance Company (Abbreviation: PTI)is established under Certificate of Qualification for Insurance Business No. 10TC/GCN dated 18/6/1998 by Ministry of Finance and the Registration Certificate No. 3633/GP-UP dated 01/08/1998 by Hanoi People’s Committee with 07 founding shareholders : Vietnam Posts and Telecommunication Corporation (the founding and controlling shareholder), Vietnam National Reinsurance Joinstock Company, HoChiMinh City Insurance Joinstock Corporation (Bao Minh), Hanoi Construction Corporation, Vietnam Construction Import and Export Corporation, Vietnam International Commercial Joint Stock Bank.
PTI provides more than 80 insurance products in the market, especially in engineering insurance, property insurance, marin insurance, personal insurance… With a staff of 500 employees, nearly 80% of them having university and post-graduate qualifications, a distribution network of 22 branches and more than 1000 agents all over the country, PTI provides its Clients with services of high profession and prestige in the market.
In over 10 years participating in non-life insurance market in Vietnam, PTI , with is one of the five leading insurance company in Vietnamese market with high and stable growth rate and efficient business. PTI’s annual turnover remains an average growth of 25-30%; Especially in 2008, PTI’s total turnover got an increase of 40% compared to the plan, increasing 61% compared to 2007. PIT’s annual average indemnity rate is under 35% of its insurance turnover. It is a good index in Vietnam and international Insurance Market, showing a profession in insurance performance, and high efficiency in the Company’s business.
Determination of Clients’ entitlements always comes with the Company’s development, PTI pays much attention to its Client Care. PTI has a close relationship with professional loss Adjuster such as Cunningham Linshey, McLauren… and received efficient cooperation from these companies in claim evaluation, survey and claim setllement. In order to guarantee the Company’s financial, the claim payment for the Client and participation in large projects, PTI has a long-term good relations under treaty signed with international well-known reinsurance companies, such as: Swiss Re, Munich Re, CCR, Mitsui Sumitomo, Tokio Marine, Hannover Re, Vinare… Therefore, PTI can cover and arrange reinsurance for larger projects with value of million US dollars such as: hydroelectricity, cement, bridge, highway…
In 2009, PTI has a lot of successful innovation. The Quality Control System in
ISO 9001:2008 has officially come into effect, contributing into improvement of management quality, product and service quality of the Company. In this year, PTI’s financial capacity is strong (Charter Capital was increased from VND 300 billion to 450 billion). Also in this year, PTI has paid much attention to development of retail channel through the post network of VNPost all over the country, and introduced some products of special design of high competition, such as “Phúc Lưu Hành” for motorbike users, “Phúc Vạn dặm” for automobiles, “Phúc Học đường” for pupils and students. Especially, PTI’s innovation in trademark identification system announced in the early November 2009 has provided PTI with a new vision: becoming the leading non-life insurance company in field of retail, actually becoming “An Insurance Company of the community”. The Slogan “A caring friend” is not only a message from PTI to the community but also a business standard, and a culture of PTI based on the spirit./.
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