AIA and HSBC form new bancassurance partnership

The Vietnamese subsidiaries of HSBC and AIA are teaming up to take the market by storm

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This partnership between HSBC Vietnam and AIA Vietnam will provide customers access to greater financial security in various stages of their life through a broad range of protection and long-term savings solutions, including universal life (all-in-one plan) and term life (life cover) insurance, education savings, as well as medical and critical illness cover policies.

According to Pham Hong Hai, CEO of HSBC Vietnam, the country’s robust economic growth in recent years has fuelled a fast-growing middle class and affluent population with evolving and diversified needs for protection and savings for education and retirement.

“By working with AIA, we aim to provide our customers with best-in-class insurance products and services that are critical to achieving their needs and aspirations for a better life quality,” Hai said.

Wayne Besant, CEO of AIA Vietnam, added that this partnership was a natural fit for both AIA and HSBC Vietnam.

“Customer experience and innovation are at the heart of everything our companies do and we are excited to bring our talents together to create even bolder and more innovative solutions to address the ever-changing needs of our customers,” Besant said.

These joint products will help customers deal with the twists and turns of life, whether it is buying a new home, preparing for higher education, planning for retirement or dealing with critical illness. This significant partnership offers customers a complete package of financial advice and tailor-made wealth and protection solutions based on understanding of individual customers’ needs and financial situation.

The two innovators are looking to transform insurance and banking services in customers' eyes

HSBC and AIA, with their combined expertise and strengths, intend to change the way consumers access and experience insurance and banking services, and lead the market with bold and innovative ideas.

Both companies are leading innovators in their respective fields. HSBC offers streamlined financial planning through its Personal Banking and unique Premier services at all HSBC outlets in the economic hubs across Vietnam. Besides over-the-counter services, HSBC has led the way in offering online services as a result of banking service digitalisation, creating an excellent, 24-hour mobile and internet banking customer experience.

AIA is known for innovative customer experience services, such as the Nest by AIA, the interactive Point of Sales system (iPOS), the MyPage customer Portal, the customer claim tracking system GBS, and especially the industry-leading customer healthy living programme AIA Vitality—a carefully researched, science-backed wellness programme that equips customers with the knowledge, tools, and motivation to make a real change towards longer, healthier, and better lives.