Aviva officially launches new brand name and shows long-term commitment to Vietnam

After increasing its capital by VND850 billion ($37.4 million), bringing the total chartered capital to VND1.65 trillion ($72.6 million), Aviva Vietnam has officially changed its brand name from VietinAviva and became one of the life insurance companies with the largest chartered capital in Vietnam.

This is a strategic decision from Aviva Group—one of the world's leading insurance groups with more than 300 years of experience around the globe—to increase the long-term commitment to Vietnam.

Chris Wei, executive chairman of Aviva Asia & FPI and global chairman of Aviva Digital, said, “Vietnam is a high-potential market in Asia with one of the world’s lowest insurance penetration rates, stable economic growth, and rising middle class and high-income individuals.”

Aviva Vietnam's development strategy is to invest substantially in digital capabilities and information technology infrastructure in order to meet the evolving needs of Vietnamese customers.

Digitalisation will be fully embedded into every aspect of the company's operations, including the development of distribution channels as well as the initiatives to improve customer experience, which will lead Aviva Vietnam to become a fully digital-integrated company by 2020 with the best services and most advanced technology, offering convenience and premium services to customers.

Aviva Vietnam also completed the signing of a long-term exclusive distribution agreement with Vietinbank, one of the leading domestic banks with a large branch network nationwide. This distribution agreement attests to Aviva’s long-term commitment to the country as the insurer continues on its growth trajectory in the region.

“As a leading insurer with more than 300 years of experience, we are confident that our strategic partnership with VietinBank will propel Aviva’s future growth in Vietnam,” remarked Wei.

In line with its multi-channel approach, Aviva Vietnam will continue to leverage the strategic partnership with Vietinbank while building a professional agency channel. Aviva Vietnam will focus on building an agency force that has in-depth product understanding and is equipped with best-in-class digital sales tools to provide customers with the most convenient insurance purchase experience.

Besides, Aviva Vietnam showed their strong commitment to community development, by setting up Aviva Community Fund (ACF) and Aviva Scholarship in 2017.

The first to launch ACF in Southeast Asia, Aviva Vietnam will fund projects that can bring about positive impacts to the Vietnamese community in three aspects: environment, community health, and education. So far, such funds have already been launched in numerous markets across the world and have achieved great success in markets such as the UK, France, Canada, Italy, Poland, and Hong Kong.

Aviva Scholarship is an exclusive programme created by Aviva for its customers in Asia. Partnering with 11 prestigious universities in the UK, the scholarship aims to promote British education in Asia and assist outstanding students in the region to further their studies at leading UK universities by covering up to 20 per cent of the tuition fees. It also provides students with opportunities to apply for the Aviva internship programme and Aviva Group’s global postgraduate programme.

“We will strive to bring the best insurance products and services to Vietnamese consumers while continuing to invest in community programmes that promote greater societal development,” said Wei.

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