Dai-ichi Vietnam, Sacombank in strategic partnership

Dai-ichi Vietnam can now sell its life insurance products through the Sacombank's network.

A strategic partnership agreement between the two entities has been announced. 

The agreement enables Dai-ichi Vietnam to work with Sacombank to jointly develop suitable bancassurance products for distribution via the bank’s network across Vietnam. The insurer will provide courses on life insurance and customer’s services for consultants of Sacombank.

As part of the partnership deal, Dai-ichi Vietnam and Sacombank launched a new bancassurance product for the bank’s individual customers to have their loans from this bank guaranteed without having to undergo any health check. If there is any unfortunate happening to the customers, Dai-ichi Vietnam will represent them to pay their remaining money they owe to the bank.

“This is an opportunity for us to reach out to more customers and bring proper life insurance products to borrowers of Sacombank,” said bTakashi Fujii, chairman and general director of Dai-ichi Vietnam.

Dai-ichi Vietnam has provided its life insurance products to nearly 700,000 Vietnamese customers and expanded its presence through more than 80 offices and general sales agents nationwide five years after the Japanese company entered this market.

Last year, Dai-ichi Vietnam reported new premiums of more than US$22.5 million, up 24% versus 2010 and more than doubled that of 2009.

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Tags: partnerships, bancassurance, insurance products, Vietnam insurance market, Sacombank, Vietnamese banks