AIA Vietnam partners up with Public Bank to benefit retail customers

AIA Vietnam partners with Public Bank to enhance benefits to retail customers

AIA (Vietnam) Life Insurance Company Limited and Public Bank Vietnam Limited have signed a strategic bancassurance partnership.

With the message “Finance in your hands,” the two companies will collaborate to bring extensive financial-insurance solutions to improve customer experience.

Wholly foreign-owned by Public Bank Berhad—one of the leading banks in Malaysia—, Public Bank Vietnam is one of the few banks who have been successfully delivering sustainable results in Vietnam. Recently, AIA Group has signed a 15-year extension to their strategic partnership with Public Bank until 2037.

Under the partnership, Public Bank Vietnam’s customers will enjoy full-scale life insurance products and services as well as extensive benefits from AIA Vitality, a scientific initiative from AIA Vietnam.

AIA Vietnam will also provide advanced digital tools, such as iPoS, an interactive platform on iPad, and iMO, a mobile office for agents working at all transaction offices of Public Bank Vietnam.

Public Bank Vietnam’s customers will have access to the MyAIA online portal and experience the transformed digital customer journey to the 60-minute claim process. AIA Vietnam believes that these digital platforms will improve customer experience tremendously throughout the policy duration.

Besides, customers can experience the benefits of the AIA Vitality app and healthy living tips on the LIV web portal—one of AIA Vietnam’s initiatives developed to help people lead healthier, longer, and better lives.

Through the move, Public Bank Vietnam has officially joined “Blanc by AIA,” a new bancassurance brand introduced by AIA Vietnam earlier this year.

AIA Vietnam and Public Bank Vietnam commit to investing both their financial and technological resources, seizing every opportunity in today’s fast changing socioeconomic conditions with the rapidly increasing middle class in Vietnam.

“Today’s signing ceremony shows our continuous efforts in fulfilling our commitment of improving our customer experience via Public Bank Vietnam’s distribution channels,” said Wayne Besant, CEO of AIA Vietnam.

“I believe that this partnership will build a strong foundation for the future collaboration between AIA Vietnam and Public Bank Vietnam and will also create new opportunities for further growth for both sides.”

After 18 years of operation, AIA Vietnam currently serves more than 900,000 policy holders across the country. By the end of August 2018, AIA has paid out a total of almost VND3.7 trillion ($163.7 million) insurance benefits for more than 410,000 cases.

Public Bank of Vietnam was transformed from VID Public Bank—one of the first joint-venture banks in Vietnam which was established on March 25, 1992 as a 50:50 venture between Investment Bank and Vietnam Development Bank (BIDV) and Public Bank Berhad, Malaysia.

After 26 years of development in Vietnam, Public Bank Vietnam has expanded its network of operations in all major provinces and cities in Vietnam.