Responding to major storms: PVI Insurance activates rapid response plan

(Dan Tri) - With experience in handling complex losses from typhoon Yagi, PVI Insurance activated a rapid response plan while typhoon Bualoi was still offshore, mobilizing specialized staff and preparing customer support scenarios.

Storm No. 10 (Bualoi) that just swept through the Central region has caused particularly serious damage. In this context, insurance companies not only play a role in supporting customers to overcome financial consequences but also contribute to stabilizing production, ensuring social security and building trust for the community to recover soon after natural disasters.

Proactive response, quick response

Accordingly, PVI Insurance's emergency compensation process for natural disasters was immediately activated, helping to shorten the processing time of documents by 30-40%, with some steps reduced by 80-90%.

Highlights of the emergency compensation process include: quick approval of loss recovery estimates when there is sufficient basis and documentation; timely decision on destruction of damaged goods to avoid environmental pollution; quick advance compensation and flexible adjustment of document items.

PVI Insurance customer support hotline and surveyors are available 24/7, receiving loss reports, providing detailed instructions and accompanying customers during the storm.

Immediately after the storm, the company's team of appraisers was present at the scene, coordinating with independent appraisers and relevant parties to visit customers, assess losses, provide procedural guidance and collect initial documents, helping the damage recovery and compensation process to take place quickly, transparently and accurately.

Motor vehicle operations: Timely support in floods

As of the morning of October 3, PVI Insurance has received 187 motor vehicle damage cases, with preliminary damage estimated at about 3.7 billion VND, most of which were cars flooded while moving, parking, or due to falling objects.

The impact of storm Bualoi caused many vehicles to be flooded for a long time (Photo: PVI).

To minimize losses, PVI Insurance has set up a 24/7 hotline and increased the number of on-duty surveyors to quickly reach the scene, guide and support customers with appropriate solutions to prevent and limit losses, and coordinate with rescue forces to bring vehicles out of flooded areas to repair sites.

PVI Insurance's hotline system and online compensation software also maximize their effectiveness, helping customers quickly declare losses and monitor the file settlement process in real time.

Mr. Do The Thuc, PVI Insurance appraiser, shared: “A car is a valuable asset, a necessary means of transportation and business for every family and business. People who have participated in insurance have put their trust in us, so we have to race against time to protect the value of that asset.”

Asset-Technical Operations: Responding to Particularly Large Losses

Regarding property and engineering business, PVI Insurance has recorded 150 losses and is expected to continue to record additional claims from co-insurers, including damage to factories, machinery, goods and business interruptions, with compensation reserves of nearly VND850 billion.

All cases were approached by PVI Insurance appraisers and independent appraisers at the scene, coordinated to guide preventive measures to limit damage, and at the same time guided to prepare documents for the next compensation settlement.

The heaviest loss was the complete collapse of the coal warehouse of Vung Ang 2 Thermal Power Plant in Hai Phong Village, Ky Loi Commune, Ky Anh, Ha Tinh with estimated damage of over 20 million USD, including material loss and business interruption.

PVI Insurance assesses and handles damage at Vung Ang 2 Thermal Power Plant (Photo: PVI).

Arriving at the scene as soon as the storm had passed, Mr. Le Hai Phong - Deputy Head of PVI Insurance Complaints Department - said: "This coal warehouse was built very solidly but still collapsed almost completely. Our task is to coordinate with relevant parties, record the current situation in detail to quickly come up with a plan for advance payment and compensation, helping customers to soon stabilize production and business."

Currently, PVI Insurance is working with international appraisal company Lloyd Warwick and related parties to speed up damage assessment, as a basis for considering immediate advances to customers.

With experience in handling major losses from typhoon Yagi in 2024, PVI Insurance said it will come up with appropriate solutions and plans to speed up the compensation settlement process for customers.

Previously, just 10 days after Typhoon Yagi passed, the first customers of PVI Insurance received advance compensation. By the 45th day, 100% of advance requests had been fully disbursed. To date, after exactly one year, PVI Insurance has completed the final processing of 80% of the arising cases with the payment and advance amount of nearly 1,000 billion VND.

Experience from Typhoon Yagi has affirmed PVI Insurance's ability to respond to large-scale natural disaster losses, strengthening the trust of customers and international partners.

Source: https://dantri.com.vn/kinh-doanh/ung-pho-bao-lon-bao-hiem-pvi-kich-hoat-ke-hoach-phan-ung-nhanh-20251004190857688.htm