Sun Life positions Vietnam as a strategic market in Asia

With a vision for sustainable growth, Sun Life Vietnam is accelerating its expansion, digital transformation, and customer experience initiatives while fostering meaningful connections with the community, particularly the younger generation.

Sun Life has identified Vietnam as a key market in its Asia-wide strategy, driven by a long-term commitment to investment. The company continues to expand its footprint to meet the evolving needs of Vietnamese customers, while contributing to the sustainable advancement of the life insurance sector.

In 2024, the company raised its charter capital from VND16.48 trillion ($633 million) to VND17.94 trillion ($689 million), positioning the company among the top three life insurers in Vietnam in terms of charter capital. The strategic move bolsters the company’s financial capabilities and underscores its long-term commitment to the market.

Alongside capital expansion, Sun Life Vietnam has broadened its national office network and diversified its distribution channels to enhance market reach. These efforts are bolstered by a robust digital transformation strategy and process optimisation initiatives.

Digital transformation – a core driver of customer experience

One of Sun Life Vietnam’s top priorities is accelerating digital transformation to improve customer experience. The company has deployed many technology solutions, such as a Customer Contact Centre, the Salesforce Customer Relationship Management (CRM) platform, and an integrated 360-degree customer data system, which improve the customer care and support in an efficient and seamless way.

Thanks to these efforts, between January and October 2024, customer satisfaction increased by 30 per cent, while the success rate of call connections improved nearly fivefold. These results indicate the marked changes in the service experience journey.

In 2024, Sun Life Vietnam was honoured with the “Best Customer Service Life Insurance Company – Vietnam 2024” award by International Finance Magazine (UK). The award serves as a testament to the company’s efforts to optimise customer experience through unique technology and service platforms.

Sun Life Vietnam honoured by International Finance Magazine (UK) with the “Best Customer Service Life Insurance Company – Vietnam 2024” award

In late 2024, Sun Life Vietnam signed an MoU with FPT Corporation to leverage advanced technologies such as AI, telecommunications infrastructure, and online payment systems. A key objective is to improve the service quality, especially during the insurance claims processing – a critical factor in enhancing trust and satisfaction among policyholders.

Empowering the next generation

Beyond its business objectives, Sun Life Vietnam is deeply committed to community development, particularly through initiatives that empower youth – the future leaders in shaping sustainable financial wellbeing.

The campaign “Finance for Yourself, Optimism by Yourself” serves as a clear testament to this commitment. In May 2024, the campaign was launched to implement extracurricular activities designed to educate financial literacy for primary and secondary school students. The programme equips young students early access to financial literacy skills, helping them develop a positive and proactive mindset towards personal finance from an early age.

The campaign “Finance for Yourself, Optimism by Yourself” equips primary and secondary school students with early access to financial literacy skills

Between 2023 and 2024, Sun Life Vietnam also partnered with the professional basketball team Saigon Heat to organise the High Hoops Day event series in five major cities across the country. These events attracted over 4,000 children to practice basketball, develop teamwork skills and competitive spirit, contributing to raising awareness about taking care of children's physical health.

In April 2024, the company launched the Sun Life Sports Space with a standard basketball facility to organise tournaments, free classes and coach training sessions to encourage healthy lifestyles among young people.

In the higher education sector, Sun Life signed a five-year strategic agreement with the University of Waterloo (Canada), effective from January 2025 to January 2030. The programme aims to connect international study opportunities for Vietnamese students, support financial planning for overseas education, and offer internships and recruitments at Sun Life.

Simultaneously, Sun Life is working with RMIT University to organise a series of workshops, scholarships, and internship programmes designed to equip students with practical skills, career guidance, and real-world experience in a global corporate environment.

Compliance and sustainable growth

Sun Life Vietnam strictly complies with regulations from the Ministry of Finance and other government authorities. The company maintains a commitment to transparency during operation, and continuous improvement in service delivery to deliver the ultimate customer experience.

In 2024 alone, Sun Life disbursed over $5.2 million in benefit payments to nearly 20,000 policyholders nationwide, contributing to ease financial burden for many families against unforeseen risks. Alongside benefit payouts, the company continues to expand its reach and upgrade its service infrastructure to offer comprehensive and accessible financial solutions.

As part of Sun Life Financial – one of the world’s leading financial services groups with nearly 160 years of history, Sun Life Vietnam possesses a strong financial foundation, modern governance practices, and a forward-looking strategy. These strengths position the company to drive sustainable growth and contribute to Vietnam’s socioeconomic development in the years ahead.

Thanh Van

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