Insuring success: One man’s story

March 27, 2008

Insuring success: One man’s story
 
Lam Hai Tuan, CEO of ACE Life Vietnam, is looking forward to bringing the best life insurance products to his fellow citizens  

A Vietnamese-American left 19 years of success in the US and returned to his homeland to fulfill his desire to provide the best possible insurance products to his fellow citizens.

 

Lam Hai Tuan started a new and independent life when he migrated to the US alone as a 15-year-old.

He has strived tirelessly and driven by a fierce determination to be a successful man in the US

“A migrant must double and even triple every effort to gain success in the US even though he is not inferior to his local colleagues at work,” Tuan said.

As he worked, Tuan’s special affinity for life insurance grew and he came to believe it was essential for everyone.

He won many awards while working for Metlife, including the prestigious “Man of the Year” title and a bronze medal from the International Insurance Association.

After 19 years with Metlife, Tuan had had a bright future with the company.

But he also saw a new challenge for himself.

He decided to leave Metlife in October 2002 to become an advisor for Prudential of America, focusing on Asian markets.

He remained at Prudential for 15 months, preparing himself for a return to his homeland.

Tuan returned to Vietnam on August 5, 2003, two years before Vietnam’s life insurance market reached two important milestones.

Realizing his goals

In 2005, during his historic visit to the US, then-Prime Minister Phan Van Khai awarded a license to Tuan’s employer, ACE Life.

The second insurance industry milestone was ACE Life Vietnam’s opening ceremony on December 2 of that year.

Now the CEO of ACE Life Vietnam, Tuan has been fulfilling his vision of setting up a 100 percent foreign-owned company with 100 percent Vietnamese staff.

“Vietnamese are not inferior to anybody in the world,” Tuan said.

“Our country has created many talents and they are tiny diamonds. The matter now is to gather them together and make it a shining jewel to maximize its inner strength.”

Based on this philosophy, Tuan recruited talented young Vietnamese staff from many different sectors.

They now work together in harmony, united behind the company motto: “creating opportunities for Vietnam’s younger generation.”

To reaffirm his commitment to Vietnam, Tuan has decided to sell all his possessions in the US as he furthers his dream of bringing in the best insurance products to his fellow-citizens in Vietnam.

And so far, Tuan seems to be finding a good measure of success.

ACE Life’s Universal Life product, launched in March 2006, was well-received by customers, with sales rising a stunning 320 percent last year.

Tuan sees the popularity of the product as a testament to customers’ trust in Vietnam’s life insurance sector.

Through his professionalism and insurance expertise, Tuan has won the respect of ACE Life Vietnam’s 4,300 account representatives.

Vietnamese culture in an American company

Tuan has stuck to his vision of running an American company, 100 percent staffed by Vietnamese with a Vietnamese spirit and culture.

The ACE Life Vietnam CEO reminds thousands of his employees every day of the ethical code of conduct in the life insurance industry.

The code ensures fairness for clients, employees, account representatives and ACE Life Vietnam.

“There is still a long way for me to go with ACE Life Vietnam and I must get it done successfully to complete my life’s desire, no matter how hard it is,” Tuan said.

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