Shinhan and Prudential establish exclusive bancassurance partnership

Ký kết hợp tác

Bắt tay chúc mừng

Ông Shin Dong Min

Ông Clive Baker

Ký kết hợp tác
Bắt tay chúc mừng
Ông Shin Dong Min
Ông Clive Baker

September 9, 2019 – Shinhan Bank Vietnam Ltd. (“Shinhan Bank”) and Prudential Vietnam Assurance (Prudential Vietnam) today announced the signing of a long-term strategic bancassurance agreement. This exclusive partnership will enable Prudential Vietnam to distribute its life insurance solutions to Shinhan Bank’s customers across the country.

The partnership combines Shinhan Bank’s modern banking services and Prudential Vietnam’s market-leading and innovative insurance solutions to provide the bank’s customers with a one-stop access through which they can fulfil their health, protection and savings needs. For 20 years, Prudential Vietnam has been providing comprehensive financial protection and wealth solutions to its customers, as well as continuously enhancing its services to offer seamless experiences to them.

The alliance with Shinhan Bank extends the bancassurance network of Prudential Vietnam to seven partners, comprising both regional and local banks.

Mr. Shin Dong Min, CEO of Shinhan Bank in Vietnam, shared: “Bancassurance is one of the key strategies of Shinhan Bank and an important channel to expand the insurance market in Vietnam, in general. As the leading Korean bank, we aim to provide the best financial solutions to customers and bancassurance is a key to protect customers and their family, as well as to invest for the future. We believe that Shinhan’s customers will receive the best customer service and benefits with Prudential’s extensive experience in this industry. The partnership with Prudential to launch insurance solutions through Shinhan network is considered a strategic step to expand our market, a very potential one for both insurance and banking”.

Mr. Clive Baker, CEO of Prudential Vietnam, shared in the signing ceremony: “Prudential has enjoyed significant success in operating a multi-channel distribution strategy to serve the growing demands of urban customer segments in Vietnam. As a pioneer of bancassurance in Vietnam, we are delighted to partner with Shinhan Bank to deliver valuable and holistic benefits with quality services to Vietnamese customers as we have done for the past 20 years. With this exclusive partnership, Shinhan Bank and Prudential Vietnam will provide comprehensive and world-class savings and protection solutions to a growing base of bank customers, supporting their needs as well as the further development of the insurance industry.”

According to the Ministry of Finance’s Insurance Supervisory Authority, Vietnam’s insurance industry continued to maintain strong growth in the first half of this year, with total revenue increasing 24 per cent year-on-year to nearly VND71.15 trillion (US$3 billion). The industry is forecasted to grow 20 per cent for the full year, while the bancassurance segment is grow 30 to 40 per cent[1]

[1] http://vietnamnews.vn/economy/521974/viet-nams-insurance-industry-keeps-thriving-in-h1-2019.html#wxI5IyCUr2yVZ7OL.99

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