As part of its comprehensive digital transformation strategy to optimize business operations, Bao Viet Life Corporation implemented the akaBot automation solution from FPT IS to improve workflows at the Corporation’s headquarters.
The wave of insurance technology and the challenge of maintaining market leadership
Today, technology has been deeply integrated into the insurance industry. According to Mr. Ngo Trung Dung, Deputy Secretary General of the Insurance Association of Vietnam: “Technology has intervened in every stage of the insurance value chain.” A McKinsey study predicts that by 2025, more than 25% of the insurance industry will apply automation to claims processing, underwriting, and policy issuance. Amid this strong digital transformation wave, insurance companies are actively adopting technology solutions to improve operational efficiency.
As a pioneer in opening Vietnam’s life insurance market, with more than 200,000 advisors and 3 million customers, Bao Viet Life Corporation is one of the largest life insurance enterprises in Vietnam. Facing increasing market competition and growing customer expectations, they chose to adopt advanced technology solutions, including automation solutions, to ensure service quality, reduce processing time, improve efficiency, and enhance the experience for customers, advisors, and employees.
Solving comprehensive automation challenges from critical manual processes
Bao Viet Life Corporation prioritized automating repetitive and manual processes at its headquarters, including data entry, data reconciliation, and authorization management processes through the akaBot solution developed by FPT IS. The platform’s core RPA technology includes virtual assistants capable of simulating and learning human operations on computers, thereby automating tasks and freeing employees from repetitive manual work.
To meet the demand for more comprehensive and complex business automation, akaBot continuously integrates advanced technologies such as Artificial Intelligence (AI), Intelligent Document Processing (IDP), Optical Character Recognition (OCR), and Machine Learning.
Challenges in digital transformation and automation
Bao Viet Life Corporation’s journey toward operational optimization with technology solutions also faced several initial challenges. According to Mr. Trinh Minh Hoang, Deputy Director of the Operations Management Division at Bao Viet Life Corporation, they encountered two major challenges: technical and information security barriers, and employee adaptation to process changes when implementing RPA.
Regarding technical and information security barriers, with the support of the akaBot and FPT IS teams, process-related and system-related issues were successfully resolved.
To improve employee acceptance and engagement in automation initiatives, Bao Viet Life Corporation collaborated with akaBot and FPT IS to organize internal sharing sessions for employees about RPA implementation results, future application potential, and opportunities to propose highly automatable processes. According to Mr. Dao Duc Giang from the IT Project Management Department, the implementation team planned to leverage achieved results to encourage other departments to expand RPA adoption.
The results after overcoming digital transformation and automation challenges
By implementing akaBot RPA virtual assistants across four processes at the headquarters, Bao Viet Life reduced process errors by up to 99.9%, saved more than 80% of processing time, and reduced approximately 5,700 working hours annually. The solution improved operational efficiency, ensured business responsiveness, minimized manual tasks, and allowed employees to focus on more valuable and creative work.
With extensive experience supporting major insurance companies such as Hanwha Life, Shinhan Life, Prudential, FWD, PJICO, AIA, Cathay Life, and Fubon Life, combined with the “Co-create the Next in Insurance” technology ecosystem designed specifically for the insurance industry, FPT IS is committed to supporting enterprises in building a modern and sustainable insurance culture in Vietnam.
“The project implemented with Bao Viet Life is a strong example of flexible technology application to optimize operations and business performance in the insurance industry. In the next implementation phases, we aim not only to continue optimizing Bao Viet Life’s processes with automation but also to leverage AI potential to enhance capabilities in agent recruitment, direct sales, and product development,” shared Mr. Bui Dinh Giap, Executive Director of akaBot, FPT IS.
Mr. Trinh Minh Hoang, Deputy Director of the Operations Management Division at Bao Viet Life Corporation, stated: “Over the past years, BVNT has strongly invested in information technology and digital transformation, achieving a relatively high level of digital maturity. In the next phase, we will continue reviewing processes to assess the feasibility of RPA applications and prioritize implementation plans accordingly.
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