SINGAPORE — OPES Insurance Joint Stock Company has been honoured with two prestigious awards - 'AI Initiative of the Year' and 'Virtual Insurer of the Year' - at the 2025 Insurance Asia Awards.

Earlier this year, OPES was also named among the Top 10 Most Reputable Non-Life Insurance Companies in 2025 by Vietnam Report.

These recognitions reaffirm OPES’s strong progress as a promising digital insurance model. The company was awarded in two key categories: AI Initiative of the Year and Virtual Insurer of the Year at the Insurance Asia Awards 2025, one of the most prominent industry events in the Asia-Pacific region. The awards reflect OPES’s achievements after years of persistent efforts in pursuing a comprehensive digitalisation strategy.

This marks the second consecutive year that OPES has been named Virtual Insurer of the Year, and it remains the only Vietnamese company to have received this title to date. With 95 per cent revenue growth in 2024, a portfolio of more than 20 insurance products distributed across multiple channels, and a network of 30 partners across various sectors, OPES successfully convinced the judging panel of its ability to implement a sustainable and effective digital insurance model.

To win the AI Initiative of the Year award, OPES surpassed several strong contenders and met a rigorous evaluation framework based on three core criteria: innovation and creativity, effectiveness and impact and flexibility and adaptability.

 

According to the Insurance Asia Awards, OPES has applied AI in a fresh and distinctive way that delivers real value. The company has gradually automated operations and digitised the entire customer journey, bringing positive impacts not only to the business itself but also to the wider insurance industry.

Over the past seven years, OPES has implemented a wide range of AI-powered projects across services, products, and operations. A standout example is the real-time risk assessment system for motor insurance using image analysis and machine learning, which helps save manpower and improve customer experience.

In addition, OPES has integrated AI and robotic process automation (RPA) into several operational processes—from document and text handling to chatbot systems - cutting down 70 per cent of paperwork and saving 50 per cent of resources.

A representative of OPES said: “Being named 'Virtual Insurer of the Year' for two consecutive years and winning 'AI Initiative of the Year 2025' is a worthy recognition of the digitalisation efforts that OPES has pursued since day one.

"It affirms OPES’s position and achievements in Việt Nam’s non-life insurance market. We believe that technology, especially artificial intelligence (AI), not only delivers effective results today but is also highly adaptable to change and ready to seize future development opportunities in the insurance sector. OPES will continue to innovate and contribute to the overall growth of both the Vietnamese and global insurance markets.”

As of the end of Q2 2025, OPES had served more than 20 million customers and issued nearly 500 million online insurance contracts. The daily number of policies issued more than doubled, from 300,000 in 2023 to 630,000 in 2024. In early 2025, at peak periods, OPES recorded a record high of nearly 1 million policies issued per day.

Alongside its strong growth, OPES has maintained a lean business model with only around 120 full-time employees, making it the non-life insurer with the highest revenue per employee in the Vietnamese market.

The company has set a target of VNĐ636 billion in pre-tax profit for 2025, a 34 per cent increase compared to 2024. To achieve this, OPES will continue investing in technology and expanding the application of AI, one of the key factors in maintaining its leading position in digital insurance.

Earlier, OPES was also honoured as one of the Top 10 Most Reputable Non-Life Insurance Companies in 2025 by Vietnam Report. Notably, OPES is the youngest company to appear in this prestigious ranking, demonstrating its outstanding competitiveness in the market. The award ceremony is scheduled for August 2025 in HCM City.

As part of the broader financial ecosystem of parent company VPBank, OPES benefits from strong group-wide support and access to a broad customer base across banking, securities, and consumer finance sectors. This enables the company to diversify its business models, products, and services to suit various customer segments. — VNS