ທ່ານໂດ໋ດັງຄາງໄດ້ຮັບກຽດໃຫ້ຂື້ນປົກວາລະສານ ແລະ ສຳພາດ ໃນວາລະສານ Target Magazine
THE INSURANCE COMPANY OF THE COMMUNITY
OUR VISION IS TO BE INSPIRATIONAL THROUGH OUR COMMITTED SUPPORT FOR THE COMMUNITY WHILST BECOMING THE LEADING RETAIL INSURANCE COMPANY IN THE LAO MARKET.
In April, we were honored by an interview with Mr. Do Dang Khang, General Director of Lanexang Assurance Public Company
(LAP), who goes into its background, vision, and responsibilities, including its business expansion over the last nine years.
• Tell us about the background of Lanexang Assurance Public Company?
Lanexang Assurance Public Company
(Lanexang Assurance) was established in 2010. This was the result of cooperation between the two founding shareholders – Lao Development Bank (LDB) and Vietnam Post and Telecommunication Insurance Joint Stock Company (PTI) with each party holding 50% of the Chartered Capital.
Lanexang Assurance is a non-life insurance business and we beneft from the experience and technology of PTI as well as the nationwide service network and reputation of LDB. By taking advantage of the skills and knowledge of a leader in the insurance business together with those from a leader in the banking business, we started with a very strong foundation. As a result, we have been one of the top insurance companies in Laos from the moment of our establishment.
• What is the mission of Lanexang Assurance?
Our mission is to provide high quality insurance is available to all. We are committed to offering a standardized quality product for everyone, wherever in Laos they may live. Our nationwide distribution network has helped us to ensure that the service we provide is of the same high quality throughout the nation.
• What is the vision of Lanexang Assurance?
Our vision is to be inspirational through our committed support for the community whilst becoming the leading retail insurance company in the Lao market.
We believe that people should always come frst. For this reason, we have a policy of giving back to the people of Laos, throughout the country. Since insurance is something we draw on in diffcult times, we want to support people throughout their lives and to give people a helping hand when they most need it.
Furthermore, we believe that our responsibility should go beyond this. We are committed to supporting the basic needs of Lao people and we have done this through a number of events.
Over the last year, these have included: Providing money to support the people of Attapeu, who suffered so badly last year. Giving clothes and timber to people in Xiengkhouang to help them to build houses. Donating rice and also insurance products to people in Paksong District, in Champasak Province.
Awarding scholarships to students of National University of Laos. Building a new kindergarten, and renovating the old building of Huaytom Primary School in Sangthong District, Vientiane.
These are just some of the projects we have undertaken over the last year. In total, we made donations of about USD 100,000 directly to the community, and we are committed to continue this support throughout the country in the future.
• What are the main products? How can consumers fnd out more aboutLanexang’s products? What are the outstanding points that make consumers trust Lanexang’s products?
We provide a variety of Insurance products, but we can classify them in four main groups: Motor Vehicle Insurance
(motorbikes and cars); Healthcare and Personal Accident Insurance; Cargo Insurance; Property and Engineering Insurance (property, construction, hydropower plants, money, fre and special perils, machinery breakdown, aviation, satellite).
Our main products are motor vehicle insurance for which we are the second largest company in Laos, and healthcare and personal accident insurance. We want our customers to be really happy with our insurance and we believe that our aftersales service refects that.
We strive to make our aftersales service superb and, with hundreds of sales & aftersales service points all around the country, we are able to give easy access to our services in every district of every province throughout Laos from effcient and knowledgeable staff.
This service has been appreciated by our clients and this is refected by our growth in recent years.
We have shown ourselves to be a company that our customers can trust and depend upon and we promise to continue to be the best we can.
• What are the challenges of this business and how do you manage them?
We are in a highly competitive market. There are currently twenty-four insurance companies in Laos and we need to show customers and potential customers why they should choose us.
Our network is the strongest in Laos, and we are backed by large and established businesses which means that our customers can have the peace of mind to know that we are there for them. With our record of customer support, we are truly a company that our customers can trust.
• Please share us your background before joining Lanexang as the CEO to inspire new business women/men.
I always knew that I wanted to be a CEO. With this goal in mind, a degree in accountancy, and a burning desire to succeed, I started my career, frst as an accountant of a small company, then as chief accountant of a bigger company, eventually working for PTI, one of the largest insurance companies in Vietnam. I worked hard, and studied every day, focusing on my goal to improve myself personally and professionally. Through this effort, I become the youngest Director of a subsidiary of PTI when I was just 28.
This then gave me the opportunity to become the CEO of Lanexang Assurance. My background in fnance has also helped me in developing a company with strong foundation which will sustain it long into the future. I now have more than 10 years’ experience in the insurance sector and I am currently the CEO of Lanexang Assurance, as well as the Chief Offcer of The Vietnam Business Association of Cooperation and Investment in Laos.
I believe that, to become a successful CEO, you should work hard with kindness and integrity and study every day to improve yourself.
I also believe that it is important to develop good relationships with people throughout your career. By developing these relationships, I have been able to expand my company and to support others to do the same. As a CEO, you meet many people from all walks of life and you never know when you might cross paths again. I believe you should always put people ahead of proft because, in the end, in this way people will learn to like and trust you. With trust, friendship, and hard work, success will come.