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Dai-ichi Life Vietam and SHB enter into exclusive 15-year strategic bancassurance partnership

On October 5th, 2017, Dai-ichi Life Vietnam and Saigon-Hanoi Commercial Joint Stock Bank (SHB) solemnly held a signing ceremony of their Strategic Partnership Agreement at Melia Hanoi Hotel. The ceremony was honored to welcome Mr. Vuong Dinh Hue - Politburo Member and Deputy Prime Minister, Mr. Bui Dang Dung – Vice Chairman of National Assembly’s Finance and Budget Committee, Mr. Dao Minh Tu, State Bank of Vietnam Deputy Governor,  Mr. Phung Ngoc Khanh, Head of Insurance Supervisory Authority, Ministry of Finance, as well as the Executive members of Dai-ichi Life Holdings, Dai-ichi Life Vietnam, SHB, business  partners and representatives of local and international media agencies. 

Under this agreement, Dai-ichi Life Vietnam is the exclusive provider of premier life insurance products and riders through SHB’s extensive network nationwide. Accordingly, all SHB customers will have access to the packaged banking and insurance solutions through a single transaction thanks to SHB's nationwide network and Dai-ichi Life Vietnam's insurance expertise. In addition, customers will also experience benefits from the strong financial foundation of SHB and realistic values from insurance products and services of Dai-ichi Life Vietnam with the highest satisfaction through its convenient one-stop- service.

Besides the existing insurance products, in the future, both sides will coordinate to develop various product packages to meet the specific needs of different SHB customer segments as well as to bring customers the comprehensive benefits and sustainable values. Also, Dai-ichi Life Vietnam and SHB will organize regular seminars to deliver premier financial protection solutions to customers.

Dai-ichi Life Vietnam and SHB are committed to long-term and sustainable cooperation on the principle of equality, mutual benefit, mutual trust and strategies to develop the Bancassurance business in Viet Nam.

Mr. Tran Dinh Quan  Member of Member Council cum General Director of Dai-ichi Life Vietnam, said: "With our business motto “ Customer First”,  we  are very delighted to go hand in hand with SHB to enter a new phase of sustainable development for both sides. This 15-year alliance continues to provide us with tremendous opportunities to bring the human value of life insurance closer to more Vietnamese people. It also opens many chances for SHB customers to access the advanced and diversified financial protection products of Dai-ichi Life Vietnam. We will leverage our inherent experience and solid foundation, together with SHB’s extensive customer service network and prestigious banking service in Vietnam to  invest  this important distribution channel, by  developing long-term  strategy in recruitment, infrastructure development and advanced technology, putting Bancassurance as a “lever” for the sustainable growth of both parties.”

Mr. Vo Duc Tien, Vice Chairman of SHB’s Board of Directors, said: "As one of the leading and prestigious life insurance companies with a well-established history of development, Dai-ichi Life Vietnam and SHB share the business motto and philosophy on the way to success and prosperity. That is transparency, innovation and customer-centricity. The 15-year partnership agreement signing ceremony is a milestone in creating a sustainable, long-term and prosperous foundation for Dai-ichi Life Vietnam and SHB. We believe that SHB's commitments to "Solid Partner – Flexible Solutions" and Dai-ichi Life Vietnam’s "Lifetime Partner" will soon be concretized into the bancassurance products with impeccable quality of service and highest professionalism".

With the gradual shift towards higher non-credit income to improve prudential ratios and enhance business efficiency, the alliance between banks and life insurance companies is on an increasing trend. The cooperation between SHB and Dai-ichi Life Vietnam is considered collaboration between the two leading brands with the same financial strength and position, which will increase benefit not only for both parties themselves but also for their customers with the advanced bancassurance packages.