Manulife ensures customers are fully advised with new monitoring process

Strictly manage the quality of consulting and issuing insurance contracts with the M-Pro application

The process of authenticating and monitoring insurance contract issuance via the M-Pro application is expected to be piloted at the end of November 2023 before being officially applied in early 2024.

According to the new process, after the customer has been consulted by an agent, submitted an insurance application and gone through the appraisal process, the insurance contract will not be issued immediately but the customer needs to take an additional step of verifying information to help the company monitor the quality of consultation as well as proactively protect their own rights.

Customers are required to access the M-Pro application to perform electronic identification and check the personal information provided. At the same time, important information about the insurance contract, including product benefits, notes on investment risks, premium payment responsibilities and other important terms are presented fully, clearly and concisely, so that customers can clearly understand and confirm before issuing the contract. Customers will also self-confirm their participation in insurance on a voluntary basis, in accordance with their financial capacity and insurance needs.

Manulife said that the M-Pro contract issuance verification and monitoring process is designed to be user-friendly and easy to use for all customers, helping the company to independently check and evaluate the consulting content of agents across all distribution channels before issuing contracts in addition to previously available forms such as Welcome call and Mystery shopping.

This new process not only aims to ensure transparency and efficiency, improve the quality of agent consultation, but also helps to raise awareness, understanding and proactive role of customers in the process of learning about and participating in life insurance.

The M-Pro contract issuance verification and monitoring process helps Manulife manage the quality of advice, ensuring 100% of customers receive full advice. Photo: Manulife

Upgrade your contract suite to keep your customers informed of important information.

As part of a series of activities to improve the sales process, Manulife said that the company is preparing to release a new insurance contract set, upgraded in both content and form. This new contract set will be accompanied by a summary table containing important information that customers need to pay attention to, such as product benefits, exclusions, insurance period, mandatory premium payment period, premium payment period, contract review period, etc., to help customers grasp the most important information of the contract and easily look up during the insurance participation process. The summary table is expected to help customers reduce their worries about insurance contracts being too long and having many difficult-to-understand terms.

With the launch of the M-Pro contract issuance verification and monitoring process and significant improvements to the insurance contract suite, Manulife Vietnam is a pioneer in efforts to improve the quality of agent advice and increase the transparency of insurance contracts.

It is known that, up to now, Manulife's total investment in the Vietnamese market is more than 22 trillion VND. On average, each month, Manulife Vietnam pays nearly 42,000 claims for customer benefits, with total compensation and insurance payments in the first half of 2023 reaching more than 8,800 billion VND.

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