FWD Life Insurance has struck up an exclusive partnership with Vietnamese e-commerce firm Tiki.
|FWD Vietnam and Tiki has agreed on a three-year partnership
This is the first time Vietnam has witnessed a deal between an online commerce website and an insurance firm, signalling a new distribution channel for insurers in this fast-growing market.
“Through this exclusive partnership with Tiki, we will leverage technology to protect customers with simple, practical, and easy-to-understand products. This is a good opportunity for young Vietnamese people to access and experience online insurance through a modern and digital channel,” said Anantharaman Sridharan, general director of FWD Vietnam.
At the start of the partnership, FWD and Tiki will offer free online insurance products for 100,000 customers on Tiki.vn. Tiki's customers will be offered financial protection against the risk of death and accidental injuries via online personal accident insurance policies, with a three-month protection and a maximum payout up to VND300 million ($13,203).
According to the two partners, these online life insurance products require simple registration, no health examination, and no premiums either. The sign-up process, which is done entirely online, takes only five minutes.
This programme is open to Tiki users from 18 to 54 years of age, from October 24 to November 23, 2017. Afterwards, new online life insurance products will continue to be launched by FWD Vietnam and Tiki.
Through this partnership, FWD strives to fulfil its ambition to focus not only on enhancing the quality of existing sales channels, but also on pioneering the digital distribution of life insurance.
Meanwhile, Tiki’s founder Tran Ngoc Thai Son said that this handshake with FWD demonstrates Tiki’s commitment to partnerships, innovation, and customer service.