Prudential Vietnam in insurance distribution deal with SeABank

 

Customers at a branch of SeABank in Hà Nội. The partnership between SeABank and Prudential Vietnam is part of Prudential's strategy to increase its reach in Asia, where there is a growing demand for health products, asset protection and management. — Photo tintucvietnam.vn

HÀ NỘI — Prudential Vietnam and the Southeast Asia Joint Stock Commercial Bank (SeABank) on Monday announced they have entered into an exclusive 20-year bancassurance partnership.

Under the agreement, SeAbank would distribute Prudential’s life insurance products. Thanks to the partnership, customers will have the opportunity to access a wide range of life insurance solutions directly distributed through a digital technology system, thereby enriching customer experience.

The partnership between SeABank and Prudential Vietnam is part of Prudential's strategy to increase its reach in Asia, where there is a growing demand for health products, asset protection and management.

The model of distributing insurance products via banks (bancassurance) was a key focus of Prudential’s development path in Việt Nam. The combination of SeABank’s growing customer base and Prudential's product distribution system would form a leading bancassurance model in Việt Nam, said Clive Baker, General Director of Prudential Vietnam.

The partnership allows SeABank to connect our customers with the market-leading innovative insurance products of Prudential Vietnam. It shows SeAbank’s commitment in meeting customers’ growing demands, said Lê Thu Thủy, General Director of SeABank.

Established in 1994, SeABank is one of the leading joint stock commercial banks in Việt Nam serving 1.2 million customers. It has more than 4,000 employees and nearly 170 transaction points nationwide.

Prudential Vietnam is a member of Prudential Group, a leading global financial group headquartered in the UK. Prudential has been operating in Việt Nam for over 20 years and focuses on expanding the life insurance market. As of June 30, last year, Prudential Vietnam has more than 200,000 financial consultants, more than 360 general agency offices and 1.5 million customers. — VNS