Vietnam: FWD and ACB in "e-bancassurance partnership"

| 17 Dec 2019

FWD Vietnam Life Insurance Company Limited and Asia Commercial Joint Stock Bank have entered into a "landmark e-bancassurance partnership, the first of its kind in Vietnam", said the company.

ACB will become the first bank in Vietnam to provide completely online insurance products on its website platform under this cooperation, said the statement. The partnership will allow the bank’s customers to buy simple and easy-to-understand insurance products from FWD on ACB's website with just a few clicks.

FWD Cancer Care, with annual premiums starting from VND99,000 (US$4.26), will be the first product launched through the online platform. Both partners are confident customers will enjoy a fresh, convenient and enhanced insurance experience through this e-bancassurance partnership.

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Mr Tu Tien Phat, Executive Vice President of ACB said: "Besides traditional distribution networks such as transaction offices, branches, ACB is constantly developing internet banking and mobile applications. We believe that through this partnership with FWD, ACB will enhance the diversity of service channels, helping ACB's customers to easily purchase bancassurance products anywhere, anytime."

Mr Huynh Huu Khang, CEO of FWD Vietnam said: "This partnership has opened a new path not only for ACB and FWD but also for the whole Vietnam insurance industry and I hope that it will bring the best financial protection to many more Vietnamese people and enable us to continue changing the way people feel about insurance."

ACB has been in operation for 26 years. The network of branches and sub-branches has reached 365 units, operating in 47 provinces and cities across the country. Total number of employees of the group is 15,000. FWD Vietnam was established in 2016.

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