Bank Partner of the Year 2020- Saigon Commercial Bank, Vietnam

| 19 Aug 2020

Bank Partner of the Year 2020- Saigon Commercial Bank, Vietnam

For its collaborative partnership with Manulife Vietnam in developing a diverse product portfolio serving different needs and adapting to different life stages of customers, resulting in one of the most successful bancassurance partnerships in the country's life insurance industry.

Saigon Commercial Bank (SCB) and Manulife Vietnam came together by signing an exclusive longterm bancassurance agreement in September 2015. Since then, the partnership has achieved tremendous success. It is now one of the biggest and most successful bancassurance partnerships in Vietnam’s life insurance industry.

The collaboration of the two market leaders, with SCB’s extensive network including 239 banking outlets nationwide and diverse insurance solutions and expertise from Manulife, brought convenience to customers by enabling “all transactions in one destination”.

With the mission of putting customers at the heart of everything they do, SCB and Manulife organised not only various customer seminars and promotions with attractive prizes, but also customer care programs targeted at serving different segments to improve customer experience. The combination of the strengths of both the insurer and the bank brings benefits of the highest quality to more than 40,000 customers of SCB.

Other factors that have contributed to the excellent partnership of the two organisations include the ability to execute and a collaborative mind-set. Management team meetings between the two partners are conducted weekly, testament to the commitment and efforts to develop the partnership from the leadership teams.

Not only is there an alignment in vision among the management teams, Manulife and SCB have ensured that the vision is cascaded throughout the organisations. This has enabled the smooth execution of business strategy from SCB’s headquarter to SCB bank branches.

The results of the successful partnership can also be seen through the sales force’s high engagement scores, the development of a diverse product portfolio tailored to various customer segments and life stages, and the utilisation of technology to enhance bancassurance operation.

In 2019, the partnership continued to bring in remarkable results. Annual premium equivalent (APE) performance achieved a remarkable 71% jump year-on-year, exceeding over 300% of the agreement. The exclusive partnership also protected more than 40,000 customers, a 53% increase compared to 2018.


The 5th Asia Trusted Life Agents & Advisers Awards was made possible by organisers Asia Insurance Review and Asia Advisers Network, co-organiser LIMRA, and strategic partner AIA. Winners were selected in an independently-audited judging process. More information on the Awards and winners can be found here.

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Check out the other winners:

14 winners from seven markets crowned at the 5th Asia Trusted Life Agents & Advisers Awards

Rookie Insurance Agency Leader of the Year 2020 - Lahiru Maduranga

Rookie Insurance Agent of the Year 2020 - Joyce Chan

Financial Adviser of the Year 2020 - Wilfred Wong