After successfully restructuring its organizational model to align with current revenue scale and financial capacity, Petrolimex Joint Stock Insurance Company (PJICO) is preparing to accelerate the steps in its 2023-2028 digital transformation roadmap.
In 2023, PJICO’s gross written premium reached the milestone of VND 4 trillion for the first time, specifically VND 4.023 trillion out of a total revenue of VND 4.847 trillion, exceeding the annual target in a challenging insurance market. However, to create a breakthrough and adapt to the general development trends of the times, PJICO has been implementing several major IT initiatives, including its comprehensive digital transformation plan for 2023–2028. The goal is to become a leading insurance company in Vietnam, operating sustainably, safely, and efficiently on a digital platform. Through this, PJICO aims to enhance customer experience, foster engagement, and expand business opportunities.
To ensure an optimal and efficient transformation journey from the very first steps, PJICO has selected FPT Digital as its strategic partner to build a fast and synchronized roadmap, focusing on three specific digital pillars:
First, PJICO aims to enhance customer interaction experiences. In addition to upgrading its website, call center, and AI chatbot, PJICO is focusing on customer data platforms (CDP) and customer relationship management (CRM) systems to offer more convenient, transparent services and tailored promotions that meet the needs of various customer segments, particularly large groups like FDI enterprises and SMEs.
The second digital pillar PJICO is focusing on is optimizing business operations in underwriting and claims. Digital transformation helps improve processes and enhance user features at all customer touchpoints across various sales channels, ensuring consistency for corporate clients. On the operational side, PJICO will actively review and analyze business data from multiple perspectives, identify reasons for shifts in the proportion of individual business lines and customer groups, and propose solutions to restructure core and potential products to maximize revenue, optimize profits, and enhance competitiveness.
The final digital pillar is the digitization of internal operations within PJICO. Implementing a Digital Office along with supportive systems and tools not only saves time and operational costs but also reduces paper use, showcasing PJICO’s commitment to environmental sustainability. This initiative also raises employee awareness and responsibility for protecting natural resources, in line with PJICO’s sustainable development goals.
Mr. Pham Thanh Hai, Chairman of PJICO’s Board of Directors, expressed PJICO’s strong commitment to digital transformation, reflecting the corporation’s dedication to sustainable development and its positive, responsible image in the community: “P PJICO expects digital transformation to be a breakthrough, expanding its development space on a digital platform, transforming its business model to focus on improving customer experience, service quality, governance, and resource optimization to achieve safe, sustainable, and efficient growth. This will continuously increase benefits for shareholders, businesses, and society. With the support of FPT Digital, PJICO has outlined a specific digital transformation roadmap for the 2023-2028 period, aligning with the company’s development direction through 2030. We are confident that with the determination of the entire system, PJICO will implement synchronized and comprehensive digital solutions and initiatives to achieve the strategic goals of digital transformation with the highest efficiency.”
Mr. Doan Huu Hau, Consulting Director of FPT Digital, added: “Our goal is to help PJICO not only address current challenges but also seize future opportunities, ensuring it remains one of the top companies in the insurance industry.”
With a large volume of complex and diverse tasks, PJICO’s digital transformation demands strong determination and decisive action throughout the process from both teams, ensuring practicality, feasibility, and high efficiency. This inevitable change is essential for PJICO to drive qualitative shifts, ready to overcome market fluctuations and fierce competition, and work toward a sustainable and prosperous future for all stakeholders.
