Business Performance

In 2022, Bao Long continue to review the organizational structure, how to deploy business activities by Region/Area, and vertical management to ensure a streamlined and efficient operation.

Regarding training, Bao Long has implemented many Elearning training classes as well as online training. The training courses are designed to provide staff with knowledge from basic to advanced content suitable for each job position as well as the characteristics of the Region/Region. After each course, the staff will conduct a test to evaluate the knowledge gained after the course, for management positions at the Member Unit, the assessment score after the course is also the basis for carry out annual re-appointment.

In addition, to improve the professional knowledge of the staff In the period of digital transformation, in parallel with the construction of the Megamind system, Bao Long has timely trained its staff to update the new system as well as participate in insurance training courses organized by the Insurance Institute. Australia and New Zealand Financial Insurance (ANZIIF).

In 2022, Bao Long focuses on the fee collection process and debt management, implementing the mandatory regulation of 100% fee collection through the account, minimizing collection in cash. At the same time, a review of old debts, and tightening of the management of newly arising debts is conducted.

With the orientation to become a leading enterprise in terms of dynamism and innovation in applying information technology to business activities, Bao Long continues to implement information technology projects:

• To step by step build and develop a digital insurance system for each module. The Motor Vehicle module has been completed and officially put into operation together with the CRM and Accounting modules. The Human and Reinsurance module is also underway.
• Building API connects with telecommunications partners, e-commerce platforms, and retail systems nationwide.

Throughout the past year, Bao Long carried out promotional and communication activities to enhance the brand identity, and to connect more extensively with clients and the business community nationwide. In which the most typical activity is the implementation of a new website; Search engine optimization (SEO) at Bao Long's official website; promoting, designing Brochures and promoting products: Premium health insurance Asia Care Plus, travel insurance products BaoLong Vietnam Pass, BaoLong Global Pass.

In 2022, Bao Long was honored to receive awards from many prestigious organizations such as Vietnam Strong Brandname 2022, Vietnam Trust & Use awards 2022, ASEAN Strong Brandname 2022. This demonstrates the company's perseverance and never-ending efforts for many years. Bao Long has strived to provide clients with the highest quality products and services.

Due to objective reasons, Bao Long was not able to achieve the goal of increasing capital to 1,000 billion VND in 2022.
Bao Long has continued to improve the financial management process to ensure the transparency of the company's financial position, responding to the compliance requirements on liquidity and solvency margin of the business.

On the basis of the Risk Management Strategy approved by the BOD in 2022, Bao Long has continued to carry out activities to ensure the smooth and continuous operation of risk management for the whole system:

• Regularly review and complete adjustments to business processes.
• Maintain regular and continuous remote inspection activities throughout the system, focusing on Motor Vehicles and Human Services including print management, exploitation, and compensation work.

Regarding quality management activities, Bao Long implemented an internal audit program ISO 9001: 2015 in 2022.