The Impact of Globalization on the Development of Life Insurance Businesses in Vietnam

International Economic Integration has a strong impact on all sectors of the Vietnamese economy, which directly affects the integration of the life insurance industry. In this research article, the author focuses on studying the impact of globalization on the development of life insurance businesses in the Vietnamese life insurance market. Research data was collected from 201 subjects who are managers of life insurance businesses, insurance managers, and trainers in the field of life insurance to clarify the impact of globalization on development of life insurance businesses.

Research results show that globalization affects the capacity of insurance enterprises, the diversity of life insurance products and the human resources of insurance enterprises. Thereby, experienced lessons can be drawn for the sustainable development of the Vietnamese life insurance market.