AIA and DongA Bank ink bancassurance deal

August 05, 2017 | 14:48

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AIA Vietnam has entered a partnership with DongA Bank in early August, marking the insurer’s third bancassurance deal in the past three months.

AIA continues to strike bancassurance partnerships in Vietnam, this time with the retail-focused DongA Bank

As part of the collaboration, AIA will deliver innovative products and a digitally-driven insurance experience through DongA Bank’s extensive network of 235 branches across Vietnam. Customers can use their DongA Bank account to pay their AIA insurance premiums quickly and conveniently.

All of AIA’s specialists at DongA Bank will be equipped with AIA’s interactive point-of-sale tool. Consumers can obtain on-the-spot financial consultancy, sample quotation and financial illustration, as well as access to their electronic insurance policy and claims statuses.

AIA also offers DongA Bank customers a new value added proposition called AIA Vitality, a wellness programme that motivates customers to make healthy choices every day.

This is the third bancassurance partnership of AIA with a Vietnam-based bank in the past three months. The Hong Kong-based insurer previously announced deals with Shinhan Vietnam in July and HSBC Vietnam in May.

“AIA will deliver our leading products and services powered by digital technology, user-friendly access, and new customer propositions to the banks’ fast growing customer base,” said Wayne Besant, CEO of AIA Vietnam.

For DongA Bank, the deal also marks the first time that the Vietnamese bank shook hands with an insurer.

CEO Nguyen Thanh Tung said that the AIA partnership fits well with the bank’s focus on retail customers. It currently boasts nine million individual customers and 1,000 ATMs nationwide.

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