Techcombank and Manulife Vietnam celebrate bancassurance partnership success

November 11, 2022 | 16:58

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Techcombank and Manulife Vietnam today are delighted to celebrate nine years of their award-winning strategic bancassurance partnership and to reaffirm their commitment to delivering comprehensive solutions that drive financial security for the Vietnamese people.

Since the start of their relationship in 2013, Techcombank and Manulife Vietnam have launched a range of new products tailored to the local health, savings and retirement needs of customers.

They have also placed a significant focus on accelerating digital transformation as a way of enhancing the customer experience.

Techcombank and Manulife Vietnam celebrate bancassurance partnership success

Senior leaders of Techcombank and Manulife Vietnam giving the thumbs up

In 2021, Techcombank and Manulife Vietnam launched SuperLink, an ‘all-in-one’ investment-linked product (ILP).

Offering a life insurance and wealth accumulation solution, the ILP is becoming an increasingly popular option in Vietnam.

Techcombank and Manulife Vietnam have placed a significant focus on accelerating digital transformation as a way of enhancing the customer experience.

More recently, both have continued to introduce customers to their Legacy ILP product, delivering comprehensive protection against risks of up to 200 per cent of the sum insured and investment options in 12 unit-linked funds – the most on offer in the market.

These funds are professionally managed by leading financial experts from Manulife Investment Management Vietnam and Techcom Capital.

An overarching theme for the insurance sector during the past decade is digitalisation. As the leading digital bank in Vietnam, Techcombank has worked with Manulife Vietnam to optimise its digital capabilities, driving business efficiency and ultimately enhancing the customer experience as part of its aligned strategy.

This commitment to professionalism and partnership saw Techcombank named ‘Bank Partner of the Year’ in 2019, while Manulife was declared ‘Insurance Company of the Year’ at the Asia Trusted Life Agents & Advisers Awards 2022.

Last year, Techcombank was ranked second in Vietnam’s bancassurance market, offering protection to nearly 120,000 customers. Manulife Vietnam was first in the market for new premiums in 2021.

Bancassurance the catalyst for insurers to deepen footprint

Banks have managed to navigate their way through the chaos of the last few years by diversifying their non-interest income thanks to bancassurance services.

Expansions emerging in bancassurance services

Vietnam’s banks are taking advantage of the increasing demand of high-quality insurance services, which in turn bring vast potential to their future income, while both local and foreign insurers are proactively expanding their bancassurance network.

By Ha Thuy

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