|Techcombank is now one of the largest joint stock banks in Vietnam, and a leading bank in Asia |
The move allows both organisations to build on their strengths and further accelerate their shared vision to offer holistic financial solutions and increase comprehensive protection benefits for the bank’s customers.
Techcombank has recently completed its transition to a direct sales model with licensed advisors now directly consulting customers on Manulife Vietnam products, helping to ensure they receive the best protection solutions to fit their specific needs.
The partnership will build on the sales model by leveraging digital capabilities to create market-leading and differentiated user experiences specific to Techcombank customers.
Techcombank and Manulife Vietnam have been offering innovative insurance and wealth management solutions since 2017 as part of their exclusive 15-year agreement. A robust governance structure has been put in place to support the partnership and help consistently deliver sound business practices.
|Techcombank and Manulife Vietnam have been offering innovative insurance and wealth management solutions since 2017 as part of their exclusive 15-year agreement. |
“Techcombank is proud of its longstanding partnership with Manulife Vietnam and the opportunity this gives us to better support the health, protection, and investment needs of our customers,“ said Jens Lottner, CEO, Techcombank. “The renewed focus will couple Techcombank’s digital capabilities with our partner’s technology, insurance expertise, and resources to offer more market-leading experiences, products, and digital solutions for Techcombank customers.”
In supporting Techcombank’s “Change banking, change lives” vision, Manulife Vietnam has committed to providing greater access to local and regional training and learning resources – helping enhance the competency and professionalism of the bank’s employees.
As part of the review, Techcombank has increased their investment by recruiting highly qualified staff in data and technology with domain expertise in AI, data science, and machine learning.
The recently acquired new skills will enable the joint product development process to be even more customer centric, allowing for a new level of segment focus when designing value-adding features.
Manulife Vietnam’s strategy is focused on delivering market-leading digital and customer experiences such as their widely regarded eClaims and ePOS solutions. Techcombank advisors now have access to the ePOS digital point of sales solution that will help enhance their productivity.
Techcombank customers will also benefit from an improved claims experience with eClaims, enabling them to submit claims digitally and in most cases the decisions are made automatically. Manulife Vietnam is also set to launch a revamped customer portal that allows customers to transact digitally.
Unique products, platforms and experiences
A comprehensive range of Manulife Vietnam’s solutions have been made available to Techcombank customers since October 2017. Both Techcombank and Manulife Vietnam have further committed to design and introduce unique products and solutions tailored to the customers’ needs.
To improve customer experience, Techcombank and Manulife Vietnam are also set to co-develop a shared digital platform. This initiative will involve co-developing an end-to-end sales and advisory model which integrates Techcombank’s digital needs analysis tool (iTCB Life) with Manulife Vietnam’s insurance digital submission solution (ePOS).
The integrated model will support Techcombank branch and sales representatives in providing needs-based solutions for customers, paperless document submission, and reduce complexity during the onboarding experience. The new platform is aiming to launch in the fourth quarter of 2021.
Manulife Vietnam is the first foreign-owned insurer to be granted a license in the market in 1999. As one of the leading insurers in Vietnam, it now has around 1,000 permanent staff and over 57,000 contracted agents, serving more than one million customers.
Techcombank (HSX: TCB) is now one of the largest joint stock banks in Vietnam and a leading bank in Asia.
The bank pursues a proven customer-centric strategy in providing a broad range of banking solutions and services to 8.9 million retail and corporate customers in Vietnam through an extensive network of over 300 transaction offices across the country.
Techcombank’s ecosystem approach, which is implemented across multiple key economic sectors, further differentiates the lender in one of the fastest growing economies in the world.
Moody’s rates Techcombank atop among Vietnam banks with a Ba3, Positive Outlook and the only bank being constrained by the sovereign rating. The bank is also rated by S&P with BB-, Stable Outlook.
The Hanoi-headquartered bank was named Best Bank in Vietnam by Euromoney in 2018 and 2021, and Best Bank in Vietnam by FinanceAsia in 2020, 2021.