A study on micro–insurance at Viet Nam Agricultural bank insurance joint stock company and suggest the development for micro-insurance in Viet Nam

ĐẠI HỌC QUỐC GIA HÀ NỘI LUẬN VĂN THẠC SĨ Chuyên ngành: Quản trị tài Đề tài: NGHIÊN CỨU MƠ HÌNH TRIỂN KHAI BẢO HIỂM VI MƠ TẠI CƠNG TY CỔ PHẦN BẢO HIỂM NGÂN HÀNG NÔNG NGHIỆP VIỆT NAM VÀ GỢI Ý PHÁT TRIỂN BẢO HIỂM VI MÔ TẠI VIỆT NAM HVTH: Hoang Dieu Quang Minh MSHV: 18075006 GVHD: TS Nguyen Thi Hai Duong HANOI, 2022 VIETNAM NATIONAL UNIVERSITY, HANOI MASTER THESIS Major: Financial Management Topic: A STUDY ON MICROINSURANCE AT VIETNAM AGRICULTURAL BANK INSURANCE JOINT STOCK COMPANY AND SUGGEST THE DEVELOPMENT FOR MICROINSURANCE IN VIETNAM Graduate Student: Hoang Dieu Quang Minh Student code: 18075006 Supervisor: Dr Nguyen Thi Hai Duong HANOI, 2022 ABSTRACT Currently, insurance is a rather hot field in modern life when people have a high standard of living and high requirements in protecting themselves and their properties However, is this type of product only for the rich and the poor not have the opportunity to access? Agriculture Bank Insurance Joint – Stock (ABIC) is considered as one of the leading insurance service providers in the Vietnamese insurance market in general and the low-income people market in Vietnam in particular And this topic refers to the deployment model of micro-insurance for low-income people of ABIC The author used secondary information to make clear about business risk management of the company Although the company has achieved lots of success in insurance business as well as risk management of insurance, it still exists limitations and challenges that require the company to recover Thus, this research also recommends methods and solutions for both ABIC and the State and Regulatory Agencies at aim to make risk management in insurance field better ACKNOWLEDGEMENT I sincerely express my gratitude to all the teachers in the International Department and the Graduate School of Hanoi National University for dedicatedly imparting valuable knowledge as well as creating all the most favorable conditions for during your studies and research until your dissertation project Sincerely thank the Vietnam Insurance Association, the Insurance Company of the Agricultural Bank of Vietnam - ABIC for helping me a lot in collecting data, capturing some information on social security fields of the company In addition, I would like to express my great appreciation to my advisor, Dr Nguyen Thi Hai Duong, Head of Insurance Economic Department, Faculty of Insurance, National Economics University - who directly guided and advised me during the time of this research topic Despite trying very hard in the process of researching the topic, but with limited personal capacity, the thesis cannot avoid its shortcomings Therefore, I would like to receive comments from teachers, brothers and sisters who have the same interest in my research topic to help me to be more complete as well as make dark solutions advantages in the process of promoting the macro insurance sector in Vietnam Thank you sincerely! HaNoi, June 25th, 2022 TABLE OF CONTENTS ABSTRACT ACKNOWLEDGEMENT TABLE OF CONTENTS LIST OF TABLE LIST OF FIGURE INTRODUCTION CHAPTER THEORITITCAL FRAMEWORK OF MICROINSURANCE 1.1 Overview of micro insurance 1.1.1 Dedinition and characteristics of micro insurance .5 1.1.2 The role of micro insurance .9 1.2 Micro insurance products and deployment model 12 1.2.1 Products of micro insurance .12 1.2.2 Micro insurance distribution 16 1.2.3 Micro insurance implementation models 17 1.3 Factors affecting the micro insurance market 17 1.4 Experience in implementing micro insurance in the world 18 1.4.1 Microinssurance in Countries 19 1.4.2 Experience for Vietnam 29 CHAPTER 2: MICROINSURANCE DEVELOPMENT AT VIETNAM AGRICULTURAL BANK INSURANCE JOINT STOCK COMPANY 31 2.1 Introduction to Vietnam Agricultural Bank Insurance Joint Stock Company 31 2.1.1 History and Development 31 2.1.2 Organizational structure 33 2.1.3 Operations and Products 38 2.1.4 Business performance of ABIC (2016 - 2020) 40 2.2 Microinsurance in Vietnam 44 C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an 2.2.1 Overview of Microinsurance in Vietnam .44 2.2.2 Models of implementation of Microinsurance in Vietnam 46 2.3 The current situation of microinsurance development in ABIC 47 2.3.1 ABIC's microinsurance product .47 2.3.2 ABIC's micro insurance client 52 2.3.3 Deployment model of ABIC insurance 53 2.4 Assessing of micro insurance performance results at ABIC 55 2.4.1 Achievement 55 2.4.2 Existences and Reasons of Existences .59 CHAPTER 3: SOLUTIONS TO DEVELOP MICROINSURANCE AT VIETNAM AGRICULTURAL BANK INSURANCE JOINT STOCK COMPANY AND RECOMMENDATIONS FOR DEVELOPMENT OF MICROINSURANCE IN VIETNAM 61 3.1 Factors effect to Microinsurance Development 61 3.2 Solutions to Develop Microinsurance at ABIC 64 3.2.1 Improve service quality 64 3.2.2 Diversify micro-insurance products 65 3.2.3 Choosing the direction and scope of business 65 3.2.4.Choose a business strategy 66 3.3 Recommendations for development of microinsurance in vietnam 67 3.3.1 Constructing the legal framework for microinsurance operation 67 3.3.2 Educate farmers about the importance of microinsurance .68 3.3.3 Diversify Suppliers 68 CONCLUSION 73 REFERENCE 74 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an LIST OF TABLE Table 2.1 ABIC’s Recurring ROE (2016-2020) 41 Table 2.2 ABIC’s Recurring income and Recurring ROE (2016-2020) 42 Table 2.3 ABIC’s One-time ROE (2016-2020) .43 Table 2.4 ABIC’s One-time ROE Growth (2016-2020) 43 Table 2.5 ABIC Annual BATD’s Premium Rate Schedule .51 Table 2.6: ABIC Credit Security Insurance’s Short-term Premiums .51 Table 2.7: ABIC's Long-Term Credit Security Insurance’s Premium Rate .51 Table 2.8 ABIC’s agent (20-2020) 56 Table 2.9 ABIC's credit security inssurance product business results .57 Table 2.10 Premium Revenue of ABIC's Credit Security Inssurance .58 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an LIST OF FIGURES Figure 1.1: Model of micro insurance implementation in Japan 25 Figure 2.1 ABIC’s General Structure 33 Figure 2.2 ABIC’s Headquarters Structure 36 Figure 2.3 ABIC’s ROE (2016-2020) 41 Figure 3.1: Distribution channel model Partners – Agents .71 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an INTRODUCTION Rationals The country reform has brought about many important economic and social achievements, including the consolidation and improvement of the social security policy system Social security is to contribute to ensuring income and life for citizens in society when they unfortunately encounter "social risks" or "social events" that lead to stop or decrease in income The aim is to create a stable life for all members of society and therefore, it is deeply social and human This is also the ideology towards prosperity and happiness for everyone in society Each person in society from different social status, different race, different religion are manifestations of a social value system As a citizen, they must be guaranteed in all aspects to fully develop their abilities, regardless of social status, race, religion Social security helps the unfortunate the less fortunate people have more conditions and supports necessary to overcome the "events" and "risks", helping them have opportunities to develop and integrate into the community Since time began, Vietnam have been determined to develop a social security system to ensure the better realization of the people's basic rights Social security policy has many forms, including "Micro Insurance" Micro insurance plays an important role in ensuring social security, contributing to poverty reduction, including insurance products designed and offered to the poor, the low-income and the disadvantaged in social Not only seen as an effective tool to "protect" the poor, micro insurance also contributes to improving understanding of the need for insurance in the low-income and middle-income communities in rural areas It can be said that micro insurance brings knowledge about finance insurance or simply helps poor people to have the habit of accumulating finance In other words, micro insurance is a type of product that offers safe protection and ensures the poor to avoid risks and damages The benefits of financial services for the poor are widely recognized and microfinance Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an projects are top concern in developing countries Meanwhile, micro insurance - the type of insurance for the poor - that has the potential to significantly support millions of the poor and weak in society, receive limited attention The poor can face big financial trouble when unexpected risks come to them A poor person's wealth may be limited to a few animals or plants and a modest place to live, but destroying any of these can be a blow to their family's economy Therefore, even a small insurance premium can guarantee protection, peace of mind, even dignity for the poor However, from the insurers' point of view, the small sum insured means small premiums and low profit margins, leading to many businesses not being too eager for this type of insurance In that regard, micro insurance must be well managed, cost-effective and distributed on a large scale in order to bring both benefits to the poor and insurance providers This is not a simple problem So far, Agriculture Bank Insurance Joint Stock Corporation (ABIC) is the most successful company that provide micro-insurance in Vietnam with very respectable numbers For Vietnam to make great strides on poverty reduction, bringing insurance products closer to the poor, Vietnam urgently needs businesses and organizations like ABIC What model did ABIC operate on to receive such success? This essay is enthusiastic research that stems from the desire to contribute a part of strength in the cause of poverty reduction, bringing the poor and difficult access to better values From that importance and meaning, along with the knowledge learned at the school and my choice, I choose the topic: “A study on micro insurance at ABIC and suggest the development for micro insurance in Vietnam” Realizing that this is an important and highly applicable study, the topic has studied the systematization of the theoretical basis of microinsurance in general and the assessment of the current situation of micro insurance operations, give solutions to push up micro insurance in ABIC in pacticular, micro insurance in Vietnam in general Objectives of the research - General Objective: Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an CHAPTER SOLUTIONS TO DEVELOP MICROINSURANCE AT VIETNAM AGRICULTURAL BANK INSURANCE JOINT STOCK COMPANY AND RECOMMENDATIONS FOR DEVELOPMENT OF MICROINSURANCE IN VIETNAM 3.1 Factors Effect to Microinsurance Development For the world, currently, Micro-insurance is a field of strong interest and promotion However, the Micro-insurance market is not considered to be entirely beneficial to insurers and consumers Important aspects hindering the development of the micro-insurance market include insufficient resources to assess risks as well as information asymmetry These problems add to the high level of risk and geographic scope that causes a large portion of the population of developing countries to have reduced access to insurance products In developing countries, access to the micro-insurance market remains difficult while insurance products are virtually accessible to the corporate market or high-income people, as most lowincome people are self-employed or work in small businesses They don't have much access to micro-insurance products that suit their needs The main factors that increase this accessibility are distribution channels, simple products, coverage, premiums, and premium collection methods For Vietnam, in general, microinsurance is still not popular, not yet received much by low-income people for many reasons However, the process of implementing this insurance model still has certain and significant successes - Regulation framework The regulatory environment for microfinance activities in general and microinsurance in particular has improved more or less From the state side, the promulgation of a decree regulating microinsurance has not yet been adopted because the government has not recognized the high effectiveness in the pilot implementation of Microinsurance in some places Although the micro insurance business model is similar to conventional insurance, the risk ratio is very high, 61 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an losses are easy to occur and cannot be compensated, so with such characteristics, it is necessary to meet the requirements of capital, monitoring capacity, the organization of operation, investment payment, management technology business, so to successfully implement a micro insurance project must be carefully invested from finance to human resources and qualifications Socio-political organizations are state-owned organizations, and if there are risks, the state must bear the losses Therefore, the Government must give great consideration in issuing decrees regulating microinsurance This can be clearly seen through the Law on Insurance Business 2000 (amended and supplemented in 2010); Vietnam's microfinance construction and development project to 2020 (December 2011); Draft guidance on the Decree on Agricultural Insurance (2017); it has created an important basic legal framework for the development of microinsurance in Vietnam in the coming time - A support for Government Microinssurance is not protect poor and low-income people only, it is one of tools to guarantee for social security and sustainable development So that, it is needed to confirm that the promotion of micro-insurance products aimed at the poor has been receiving strong support from the Government and the authorities, as this work provides significant support for the lives of the poor However, according to the above statistics, temporarily in Vietnam, the revenue that the microinsurance sector brings is not positive despite the large support from the state It is lack of connection among ministries, government and province agencies - Suppliers Development of microinsurance has so far not achieved as expected because the majority of enterprises doing insurance business in Vietnam not want to provide microinsurance products The insurance market is inherently for the upper and middle class people who are easy to penetrate, while Microinsure is a low-profit type, the risk is also high so many businesses not dare to take risks 62 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Although the demand for this product for Vietnamese people is quite large, microinsure has not yet become a product that closely follows the lives of lowincome people in part because people still have economic difficulties to participate in insurance, but more importantly, the practice of buying insurance as well as the compensation settlement procedure is still slow, much, making people not excited For insurance providers, obstacles in the process of implementing and replicating this model encounter the following causes: The majority of insurance companies in Vietnam not want to provide microinsurance products Because, not only have to change part of the business strategy, but insurance companies also have to change products in a simple way and cut costs to suit low-income customers Meanwhile, the insurance market for upperand middle-class people is easy to penetrate and there is still a lot of untapped potential - Suiltable distribution channels The development of an effective and simple model of premium collection to maintain and develop this type of insurance is a major obstacle, because it is necessary to calculate the reasonable cost for toll collectors, as well as obstacles in The choice of product distribution channel in an optimal way, due to microinsurance provided to low-income people, the premium is low Therefore, finding a really effective distribution channel to sell micro insurance products to rural people is a difficult problem for insurance companies Currently, the fact that insurance enterprises sell microinsurance products not through agents, but only through associations and unions, so the collection of monthly fees is also a dilemma Because the rural area is not like the city, people live in different terrains, so it is difficult to reach them to introduce products and sign contracts, but collecting fees is even more difficult The supply of products is one of the activities that account for the most costs when deploying new products Even a microinsurance provider can spend up to 90% of the total fees collected for product delivery and charges in the first year 63 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an 3.2 Solutions to Develop Microinsurance at ABIC In order to develop micro insurance, ABIC should seek to maintain their advantages and overcome current difficulties The company is still the leading corporation in the non-life insurance industry, both in term of scale and performance, and should be able to make their dominance as leverage to further boost profitability The overall performance of ABIC is satisfactory as its ROE is higher than the industry average, which is one thing to be kept up in the future The profitability structure of ABIC is consistent and reliable, which was reflected by Recurring ROE Furthermore, that structure is being contributed by a good operation of financial investment, and is being functioned with good utilization of resource capital These are what ABIC needs to sustain in order to strengthen its profit On the other hand, ABIC ought to focus on fixing prevailing issues as well The first and foremost obstacle is to eliminate the stigma of high Combined Ratio, which indicates inability to generate profit solely from insurance business Plus, this combined with the fact that ABIC is exposed to potential pricing errors, can prove to be fatal for the company Such problems must be addressed in future plans, if ABIC wishes to ensure healthy and sustainable growth Meanwhile, ABIC should also pay attention to their client base and competitors in the market too As the non-life insurance market in Vietnam is an open and potential one with a large portion of uninsured individual, competition is expected to be fierce, which require ABIC to make appropriate decision to maintain their market share, all while keeping expenses and pricing at reasonable level Moreover, to realize its microinsurance development in the coming years, ABIC must focus on following solutions 3.2.1 Improve service quality Service quality is reflected in two areas: ‐ The service must satisfy the needs of the customer ‐ Service must meet specified procedures 64 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Competition is expressed in three areas: ‐ About products: suitable premium, best responsive service ‐ About science and technology: Make full use of and promote the applications of information technology in business processes and management processes ‐ Regarding human resources: Business goals from time to time must be consistent with the development of the network system and human resources of ABIC 3.2.2 Diversify microinsurance products A health micro-insurance product should be designed so that it is simple, easy to understand, easy to remember, suitable for the qualifications and perceptions of low-income people The procedure of participation and insurance compensation should also be carried out simply and quickly In the short term, ABIC should be in some practical areas and have a great demand for low-income people (microinsurance products should focus on agricultural insurance, health care, refundable death cycles, credit balance deaths ) Businesses should calculate to be able to provide products that really suit the needs and capabilities of customers ABIC's current product is Credit Security insurance product only, in the long run, ABIC can develop micro-insurance products for small production assets, medical benefit insurance, vehicle insurance with simple coverages The products can also be designed in the direction of attaching to the assets of farmer households and production activities 3.2.3 Choosing the direction and scope of business ABIC's customers in the immediate period are strategic shareholders of the company, especially founding shareholders and controlling shareholders Based on this existing customer base, the company accumulates experience and relationships to develop into other customer markets Therefore, ABIC's business direction in the following years must achieve the following objectives: 65 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an ‐ To maximize the insurance needs of strategic shareholders, especially to associate ABIC's business activities with the business activities of the Bank for Agriculture and Rural Development of Vietnam ‐ Develop external markets especially new markets (due to new developed markets or new Insurance products) ABIC's business scope: ‐ Since the customers' production and business activities are spread all over the country, ABIC's scope of activities must also operate nationwide ‐ ABIC initially set up a number of branches in some central economic areas Other localities can exploit the existing network of the Agricultural Bank through the form of an authorized agent for exploitation, assessment and compensation 3.2.4.Choose a business strategy The life cycle of a business goes through four stages: start-up stage, developing stage, maturity stage and stagnation stage ABIC is at the maturity stage while Vietnam's insurance market is in the developing stage, so the Company's business strategy is determined: Initial business is based on available resources, which are shareholders of ABIC Moreover, ABIC, in particular, relies on the Bank for Agriculture and Rural Development of Vietnam On the basis of these business results, ABIC has more internal resources to expand operations to other markets Implement business strategy: Principles of implementing business strategy: In the process of implementing a business strategy, due to limitations in information, decision-making time, and cognitive capacity, predictions about the future may not be optimal The situation can change, the situation is complicated, so it is only necessary to achieve the basic requirements of the business goals to be able to consider the strategic planning and implementation of the business strategy to have been successful Therefore, we can consider the principle of "relatively reasonable" as the basic principle in the implementation of business strategy Methods of implementing business strategy: 66 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Depending on the stage of business development, choose the appropriate business strategy Each type of business strategy has different requirements on the ideological concept, working method and professional knowledge of the leader in implementing the strategy Since ABIC has been established for more than 10 years and is in the maturity stage, a steady growth strategy can be chosen The main content of this strategy is to continue to maintain ABIC's position in the non-life insurance industry and at the same time to strive to develop the market on a large scale Control, evaluate and perfect the business strategy: Every year, on the basis of the approved business strategy, each functional department develops a specific business plan Periodically check and evaluate the implementation of the business strategy and analyze and evaluate against the set goals, on that basis, adjust the business strategy to suit the new situation 3.3 Recommendations for development of microinsurance in Vietnam 3.3.1 Constructing the legal framework for microinsurance operation It is necessary to establish clear legal policies for micro- insurance Specifically, the regulatory and regulatory environment for enforcing insurance policies that both buyers and sellers can be confident of are prerequisites for the development of micro-insurance Only when there is a clear legal environment can both insurers and farmers be assured when providing as well as participating in insurance When a party breaks the contract or does not comply with the contract, then the handling will have grounds for satisfactory settlement Relevant laws and regulations also need to be in line with international standards, thus improving the opportunity for domestic micro-insurance to access international markets to carry out reinsurance as well as to transfer risks The intention to adjust agricultural insurance is to build human capacity and technical support 67 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an 3.3.2 Educate farmers about the importance of microinsurance In fact, in many countries including Vietnam, one of the reasons for under developed agricultural insurance is that farmers not fully understand the mechanisms of microinsurance as well as the importance of microinsurance Therefore, the provision of information as well as comprehensive education to people about microinsurance is essential While private insurers will also spend their investments in marketing their products, it is certain that they are unlikely to invest at a socially optimal level in educating farmers in general about the proper role of insurance Besides, the information of the insurance company will be more subjective and incomplete and basic about the mechanism of insurance Therefore, in order to increase the ability of information to be presented in a balanced and objective way, educating farmers about the nature and mechanism of microinsurance, thereby helping them understand the importance of insurance for their agricultural activities, it is necessary to have a full and methodical investment To make broader educational efforts for such insurance products, resources are needed from governments and donors and experts 3.3.3 Diversify Suppliers - The community model itself implements: According to this model, insurance will first be carried out on a small scale of villages, villages, mussels All members who meet certain conditions in the community are covered and are responsible for participating This deployment model has many advantages First of all, it is very close to the customs and traditions of Vietnamese villages - the tradition of "fresh leaves with torn leaves, torn leaves with few torn leaves" - still exists boldly in many villages Next, this model can offer practical forms of insurance for each community The payment of insurance will be made in a timely manner, thereby helping members of the community quickly overcome the consequences of risks, increase cohesion and community sentiment This model is also very easy to implement through the wishes, regulations of the community as well as invisible 68 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an constraints, moral norms The cost of implementing this model is usually very small, even zero because it works through the operation of enthusiastic members of the community In addition, this model can receive external sources of financial support such as the contribution of successful children of the community In addition, this model is often strictly managed, difficult to lose when managers are trusted with a transparent and effective financial monitoring mechanism This model will work better when the State has a legal framework governing operations and at the same time has professional support measures from insurance enterprises, State management agencies, the participation and support of local union organizations (such as the Women's Union, Youth Union, Elderly Association, Veterans Association ), financial support of donors It can be said that the above model is a mutual fund or a non-profit model at the village scale, the village, mussels, similar to the TYM model of the Women's Union This is the most suitable model for Vietnam in the current conditions As the level and management tools are improved, it is possible to develop the above model and expand the scale of operations to the commune/ward, district/district level or higher However, the above model has its drawbacks First of all, the level of insurance depends on the economic conditions of the community because the funding for insurance is formed from the income of the members of the community itself Therefore, for communities with moderate economic conditions or more, insurance contributions can be easily made and insurance payments for each member are often of practical significance while for poor communities, insurance payments can be difficult for some members and insurance payments can be difficult for some members and insurance payments can be It only has spiritual meaning Next, when the coverage is only limited to a small community, it will be difficult to cover the risks that can occur on a large scale such as livestock insurance, crops because if there are large and wide-ranging losses such as storms, floods, poultry diseases, To the detriment of a significant number of members, the 69 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an community's financial resources will not be enough to repair the damage, especially for poor communities Therefore, in parallel with the insurance model implemented by the grassroots community, it is necessary to replicate the TYM fund model of the Women's Union - Model implemented through insurance companies Assurance Company can participate in the implementation of insurance for low-income people through the following forms: Devote part of insurance activities to low-income people, instead of charitable activities If encouraged and recognized, there will be many insurance companies that support this approach This is also how insurance companies "feed" potential customers The insurance enterprise is responsible for the implementation of insurance and the State supports part of the premium for low-income people The policy of supporting 50% of agricultural insurance premiums when borrowers of credit institutions as proposed to submit to the Government is a right policy and should be promoted to implement early Professional support, management technology, product development for organizations implementing insurance for low-income people Insurance Company can also implement profitable insurance premiums for low-income people through the identification of products, distribution channels, fee collection, procedures and management technologies accordingly From studying the case of the implementation of insurance products of ABIC insurance company on bancasurance method, the model of partnership between insurance and banking clearly brings very positive results when bringing insurance products to a large number of customers who are farmers Insurance enterprises from here can link and coordinate with banks, microfinance institutions and other social organizations to distribute insurance products to insurance participants Currently, ABIC has only stopped in the relationship with Agribank and ABIC's products have not really paid to support the poor Developed under the 70 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Partner-Agent model, ABIC needs to expand the development of general agents towards cooperation with Agribank's credit agents (including women's associations, farmers' associations ) and microfinance institutions These are partners who have existing relationships with potential customers of microinsurance, combining the work of the agent with the work in charge of the partners-agents will ensure customer accessibility and low product distribution costs (compared to the development of a specialized dealer system) INSURANCE COMPANY (Design and service provision) Providing insurance services, training skills and expertise Pay compensation INSURANCE AGENT (Banks, microfinance institutions, women's unions, farmers' associations, ) Pay compensation Provide insurance products CUSTOMER (the poor, the low-income people ) Figure 3.1: Distribution channel model Partners – Agents The development of distribution channels should be accompanied by training to improve the quality of agents The training courses can be divided into many levels related to product knowledge, persuasion skills, customer management skills, complaint management The accompanying agency policies regarding the financial regime must be considered a leading tool in maintaining the promotion of the distribution channel ABIC needs to have a tiered bonus policy in terms of revenue combined with the exploitation efficiency of dealers and general agents - Model implemented through non-profit organizations, state agencies 71 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Retirement insurance, unemployment insurance and health insurance for lowincome people should be implemented through the State (Social Insurance) The State should accelerate the roadmap for the implementation of compulsory health insurance, retirement insurance and unemployment insurance for the whole population In addition to determining the appropriate implementation model, in order for insurance for low-income people to function effectively, it is necessary to develop a synchronous and appropriate legal framework, especially in communication, contingency fund supervision, solvency margins and investments In addition, the Insurance Association and insurance companies need active professional and technological assistance in terms of management in insurance activities for lowincome people 72 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an CONCLUSION Micro-insurance is a financial sector with deep human meaning in the country's poverty alleviation Through the results of the study, it can be seen that: Vietnamese insurance enterprises themselves are not really interested in this market segment due to the very low business efficiency but high risk To solve this problem, it is necessary to develop preferential policies on VAT, corporate income tax, personal income tax for micro insurance agents In addition, the State may consider additional supporting the costs of serving national programs to propagate and disseminate microinsurance, support training and training for local staffs in the implementation of microinsurance, technical support to improve the professional and financial capacity of mutual organizations, microfinance is implementing microinsurance Particularly, agricultural insurance is an area with many disaster risks and unpredictable insurance profiteering risks, so the State needs to continue to have policies to support premiums effectively and increase the size of insurance participation to take the majority of small compensation according to insurance principles In addition, there are still many "barriers" to the development of microinsurance activities in Vietnam In order for microinsurance activities to be developed, it is necessary to implement synchronous solutions such as: creating a favorable policy and legal environment to support the development of microinsurance market in the direction of the market, strengthening the capacity of organizations to implement microinsurance and supporting the development of infrastructure for the microinsurance industry tissue With the theme "Researching the model of microinsurance implementation at Vietnam Agricultural Bank Insurance Company – ABIC & suggesting the development of microinsurance in Vietnam", I hope to bring an overall view of the micro insurance market in Vietnam today, as well as providing practical solutions for the growth of the industry My research may not be entirely accurate and pushing enough, so I look forward to receiving enthusiastic contributions from teachers and friends Once again, I would like to express my deep thanks to those who helped me complete this graduation course, especially Dr Nguyen Thi Hai Duong 73 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an REFERENCE Micheal J McCord (2002), Micro-insurance in Uganda: A Case Study of an Example of the Partner-Agent Model of Micro-insurance Provision, MicroSave-Africa, ShelterAfriqueBuilding, Mamlaka Road, Nairobi, Kenya Shakera Siddiky (2007), An Explorative study on “Features of Microinsurance Schemes Complementing Poverty Alleviation Role of Microfinance and Micro-insurance Service Delivery Mechanisms of Selected Microinsurance Institutes (MFIs) in Banglasesh”, Masters of Development Studies, BracUniversity Syed M Ahsan (2009), Micro-insurance, Poverty & Vulnerability: A Concept Paper, ConcordiaUniversity, Montreal, Canada and Institute of Microinsurance, Dhaka, Bangladesh GlobalAgrisk Inc (2009), Challenges in Developing Agricultural Insurance Markets, InformationCenter for Rural and Agricultural Development (AgroInfor), Institute of Policy and Strategy for Agricultural and Rural Development (IPSARD), Hanoi, Vietnam Craig Churchill, (2006), Protecting the poor – A micro-insurance compendium I, International Labour Organization, ILO Craig Churchill, (2013), Protecting the poor – A micro-insurance compendium II, International Labour Organization, ILO Duong Thi Hai Yen (2014), Micro insurance model owned and managed by participants: opportunities and challenges, 4th Vietnam Microfinance Forum, ILO combined with Organized by CFRC and MPA M7, Hanoi TS Nguyen Thi Hai Duong (2016), Giải pháp phát triển bền vững bảo hiểm vi mô Việt Nam, [online] Available at:, [Accessed 25 April 2020] M7 (2011), Building a community-based mutual micro insurance model: grassroots voice, 2nd Vietnam Microfinance Forum, ILO in association with 74 Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn C.33.44.55.54.78.65.5.43.22.2.4 22.Tai lieu Luan 66.55.77.99 van Luan an.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.C.33.44.55.54.78.655.43.22.2.4.55.22 Do an.Tai lieu Luan van Luan an Do an.Tai lieu Luan van Luan an Do an Stt.010.Mssv.BKD002ac.email.ninhd 77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77.77.99.44.45.67.22.55.77.C.37.99.44.45.67.22.55.77t@edu.gmail.com.vn.bkc19134.hmu.edu.vn.Stt.010.Mssv.BKD002ac.email.ninhddtt@edu.gmail.com.vn.bkc19134.hmu.edu.vn