To innovate and improve the quality of education to meet demand for high-quality insurance personnel, National Economics University (NEU) held an industry stakeholder seminar on the High-Quality Bachelor’s Program in Insurance Integrating ANZIIF Certifications on the morning of April 24, 2024.

An overview of the seminar

External attendees included Do Hoang Phuong, Deputy General Director of Bao Viet Insurance Corporation; Nghiem Xuan Thai, Deputy General Director in charge of operations at Vietnam National Aviation Insurance Corporation; Ta Huy Quy, Deputy Director of Bao Viet Dong Do Company; Hoang Thi Kim Lien, Senior Regional Sales Director at Sun Life Vietnam Life Insurance Company Limited; Tran Phuong Dung, Head of the Non-Life Insurance Division, Insurance Association of Vietnam; Hoang Tu Anh, Head of Business Division 1, HANOIRE Reinsurance Joint Stock Corporation; and leadership representatives of enterprises and companies operating in the insurance sector.

Representing NEU were Assoc. Prof. Dr. Nguyen Thanh Hieu, Vice President; Dr. Nguyen Thi Chinh, Dean of the Faculty of Insurance; Dr. Vu Van Ngoc, Dean of the Institute of Advanced, High-Quality and POHE Programs; leadership representatives of departments, faculties, institutes and centers; and the University’s faculty, staff and students.

In recent years, Vietnam’s economy has faced numerous difficulties and challenges due to the negative effects of complex fluctuations in global financial markets and the COVID-19 pandemic. However, the insurance market has maintained steady growth, while policy mechanisms have been refined. Insurance companies have continued to ensure financial security, enhance competitiveness, and grow and develop effectively. The insurance market recorded encouraging growth, with total assets rising by 11.1%, investment back into the economy increasing by 12.8%, and insurance benefit payments growing by 31.3% compared with 2022.

One important factor behind the stable development of Vietnam’s insurance market is the quality of its workforce, with appropriate qualifications, dynamism and capabilities during integration into the international market. To provide high-quality personnel who best meet the insurance market’s needs, NEU decided to develop a High-Quality Bachelor’s Program in Insurance Integrating ANZIIF International Certifications.

Assoc. Prof. Dr. Nguyen Thanh Hieu, Vice President, delivers remarks

In his opening remarks, Assoc. Prof. Dr. Nguyen Thanh Hieu, Vice President, noted that the insurance sector is increasingly affirming its standing and role in the country’s socioeconomic development. During the economic crisis, the insurance sector continued to record exceptional growth, the highest among sectors of the national economy. In particular, more than two years of the COVID-19 pandemic had an enormously negative impact on the global economy: growth in many sectors stalled, many types of businesses had to scale back, and many enterprises went bankrupt. Social welfare issues became more complex, affecting the country’s social stability. Meanwhile, the insurance sector continued to achieve high growth, and its policy mechanisms were increasingly refined. Insurance companies ensured financial security, enhanced competitiveness, and grew and developed effectively.

Assoc. Prof. Dr. Nguyen Thanh Hieu also affirmed that important factors behind the insurance market’s stable development include workforce quality and the development of a dynamic, capable workforce with an appropriate structure and qualifications to ensure the competitiveness of Vietnam’s market during integration into the international market. To continue providing high-quality personnel who best meet the insurance market’s workforce needs, NEU has begun developing a High-Quality Bachelor’s Program in Insurance Integrating International Certifications from the Australian and New Zealand Institute of Insurance and Finance (ANZIIF), in addition to its standard full-time bachelor’s program in Insurance. Admissions for this academic program are expected to begin in 2024. Vice President Nguyen Thanh Hieu therefore expressed his hope that the seminar would receive valuable input from scholars, regulatory agencies, insurance companies, universities and academies on the academic program’s content and other matters related to the high-quality Insurance program under development at the University. This input would help refine the program, equip learners with knowledge and skills, and best meet the needs and competency requirements of insurance professionals in the new era.

Dr. Vu Van Ngoc, Dean of the Institute of Advanced, High-Quality and POHE Programs, presents a paper on high-quality education integrating international certifications in general

Dr. Nguyen Thi Chinh, Dean of the Faculty of Insurance, presents a paper introducing the high-quality Insurance program integrating ANZIIF certifications

Hoang Tu Anh, Head of the Business Division, Hanoi Reinsurance Joint Stock Corporation, presents a paper on workforce demand in the insurance sector and competency requirements for insurance professionals in the new era

Accordingly, students admitted to NEU who wish to enroll in the high-quality Insurance program integrating ANZIIF international certifications will take courses offered by NEU and ANZIIF. Most courses will be taught in English, with specialized courses incorporating ANZIIF course content taught 100% in English. Upon completing the academic program, students will receive a high-quality bachelor’s degree in Insurance from NEU and three international certifications in general insurance from ANZIIF. These include a diploma in general insurance under the Australian Qualifications Framework (AQF Diploma of General Insurance), a practice certificate in general insurance from ANZIIF (ANZIIF Excutive Certificate in Insurance), and either a practice certificate in general insurance claims handling (ANZIIF Excutive Certificate in General Insurance Claims) or a practice certificate in general insurance risk assessment (ANZIIF Excutive Certificate in General Insurance Underwriting). Thus, through this integrated program, students will hold both a bachelor’s degree in Insurance and international certifications in their insurance specialization upon graduation. The integrated program will therefore provide Vietnam’s insurance market with a generation of young professionals with strong professional expertise and proficiency in insurance-specific English, meeting the requirements of increasingly deep and extensive international integration.

Dr. Vu Van Ngoc, Dean of the Institute of Advanced, High-Quality and POHE Programs, and Dr. Nguyen Thi Chinh, Dean of the Faculty of Insurance, moderate the seminar’s discussion session

Delegates exchange views and contribute ideas at the seminar

Seminar participants pose for a commemorative photograph

MSc. Pham Vu Anh, Institute of Advanced, High-Quality and POHE Programs, serves as the seminar’s master of ceremonies

Conducted in a spirit of openness, sharing, attentive listening and receptiveness, with a scholarly and objective approach, the seminar elicited candid, genuine feedback from delegates, experts and insurance companies on the curriculum and other matters related to the high-quality Insurance program integrating ANZIIF international certifications.

Article and photos: Department of Communications

This is an automated translation. If you notice any errors, please contact the Department of Communications, National Economics University at phongtruyenthong@neu.edu.vn.