The partnership between AIA Vietnam and VPBank will continue to provide customers with access to holistic financial products and services. — Photo courtesy of the bank
AIA Vietnam and VPBank on Tuesday announced that AIA has extended its long-term strategic partnership with VPBank four-years into the relationship.
AIA and VPBank have agreed to a new 15-year exclusive bancassurance partnership agreement, extending the partnership for an additional four years.
Brought together by a shared set of values, with AIA's Purpose of helping people live Healthier, Longer, Better Lives and VPBank's mission to thrive For A Prosperous Vietnam, the companies have developed a strong working relationship since the initial partnership was signed in 2017.
The extension of the relationship is good news for customers. The partnership will continue to provide customers with access to holistic financial products and services, including market leading life insurance products and services and comprehensive health care programs. Further innovative products and a strong focus on enhancing the mental, physical and financial well-being of Vietnamese people will be a core focus of the enhanced partnership during the extended term.
VPBank and AIA Vietnam are two of the leading financial institutions in the banking and insurance industries. Since the agreement on exclusive distribution of insurance was initially signed in 2017, VPBank has always been among the banks with the highest sales of life insurance. Currently, the bank ranks third in the market. So far, AIA life insurance has been deployed in more than 250 branches of the bank.
Furthermore, VPBank is the leading bank in Viet Nam in consumer finance and has been voted the leading digital bank by domestic and international organisations for consecutive years. VPBank received the Digital CX Award by the Digital Banker, winning the Best Mobile Banking Initiatives category in 2021.
AIA is the largest independent publicly listed pan-Asian life insurance group with a strong and growing presence in Viet Nam. It is also the first and only life insurer in Viet Nam to win the Asian Technology Excellence Awards in 2021.
During the pandemic, the two partners provided financial assistance to customers impacted by COVID-19, and also proudly supported the country’s focus in proactively managing the pandemic.
Wayne Besant, AIA Vietnam Chief Executive Officer, said: "The extension of the exclusive partnership between VPBank and AIA Vietnam will allow AIA to continue to enhance the protection, long-term savings solutions and health and wellness needs of more families in Viet Nam enabling them to live Healthier, Longer, Better lives."
Nguyen Duc Vinh, VPBank Chief Executive Officer, said: "In addition to enhancing the service proposition to our customers, we are excited through the extension of our partnership with AIA to bring further innovative products and services to the market, providing more financial solutions to our customers for their future well-being.” —VNS