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Dai-ichi Life Vietnam and Sacombank enter into exclusive 20-year bancassurance partnership

On September 6th, 2017, Dai-ichi Life Vietnam and Sacombank solemnly organized the signing ceremony of their exclusive 20-year bancassurance partnership agreement at Hotel Nikko Saigon, 235 Nguyen Van Cu, District 1, HCM city. The event was proudly welcome the attendance of high-ranking officers from the State Bank of Vietnam, the Insurance Association of Vietnam, the executive members of Dai-ichi Life Group, business partners, as well as domestic and international media agencies.

With the 20-year exclusive cooperation, seen as the longest period in the Vietnam insurance market currently, Dai-ichi Life Vietnam and Sacombank mark a historical milestone in Vietnam bancassurance when binding a leading joint-stock commercial bank  in the banking market in regards of brand name, operations, network scale and service quality - with a premier Japanese life insurance company prestigious for its brand, product quality and market share in the insurance industry.

Under this agreement, Dai-ichi Life Vietnam is the exclusive provider of premier life insurance products and riders through Sacombank’s extensive network nationwide. To facilitate the implementation of this partnership, Sacombank and Dai-ichi Life Vietnam will coordinate to provide specialized training to advance the skills on life products, consulting and customer care for Sacombank’s staff. In addition, Dai-ichi Life Vietnam and Sacombank will regularly organize seminars to introduce customers the company’s premier financial protection solutions. 

Sacombank, armed with the network of 564 transaction points in 48 provinces and cities nationwide as well as its advanced and multi-function retail system in the region, will push up the distribution of high-quality financial protection products of Dai-ichi Life Vietnam, aiming at bringing the highest satisfaction of customers.

By leveraging both parties’ strength, Dai-ichi Life Vietnam and Sacombank commit to long-term and sustainable cooperation on the principles of equality, mutual trust and benefits; as well as putting forward grand strategies to develop bancassurance vigorously in Vietnam.
Mr. Takashi Fujii, Chairman of Dai-ichi Life International Asia Pacific, cum Chairman of Dai-ichi Life Vietnam, said at the signing ceremony: “Dai-ichi Life Vietnam is one of the leading life insurers pioneering in the diversification of distribution channel, especially bancassurance, and has currently built up fruitful partnership with prestigious partners. Marking our 10- year milestone in Vietnam, we are delighted to establish the exclusive partnership with Sacombank, one of the top financial institutions both in the country and the region. This cooperation will help Dai-ichi Life Vietnam strengthen its solid foundation to provide superior life insurance products and services, matching the long-term financial security of customers. The signing with Sacombank once again imprints our foothold in the market, demonstrating our determination in expanding the customer base as well as realizing our commitment of being a “Lifetime partner” with the Vietnamese people. We expect to build the bancassurance model of Dai-ichi Life Vietnam and Sacombank become a sustainable business standard in order to bring beneficial convenience for customers, as well as to help the bancassurance channel  grow efficiently in the Vietnam life insurance market.”

Mr. Duong Cong Minh, Chairman of Sacombank, shared: “ I am confident that with the 115 years of experience of Dai-ichi Life together with the strength and dynamics of one of the top commercial bank in Vietnam will provide the most premium, convenient and attractive insurance products to customers. It is a "Win-Win" cooperation in which Sacombank, Dai-ichi Life Vietnam and its customers are sharing benefits together. The cooperation between Sacombank and Dai-ichi Life Vietnam in which the first step is the Bancassurance model will be further expanded in many other fields to exploit and promote each other's strength.”