Ho Chi Minh City Development Joint Stock Commercial Bank (HDBank) and FWD Vietnam Life Insurance Company Limited (FWD Vietnam) have today announced the joint bancassurance partnership to distribute insurance products throughout the HDBank's network nationwide, providing customers with more options of tailored and optimal insurance products.
This partnership enables both organisations to combine their strengths based on financial acumen, high-tech digital applications, and differentiated products to improve the customer experience, while jointly expanding the development of bancassurance in Vietnam.
Under the agreement and in the first phase of the partnership, HDBank will distribute FWD Vietnam's products, including:
- Universal life product FWD Embracing Changes 3.0
- Investment-linked product FWD Double Assets
- Seven riders including FWD Care Critical Illness Waiver of Premium 2.0, FWD Care Critical Illness insurance 2.0, FWD Care Death and Disability insurance, FWD Care Enhanced Waiver of Premium 2.0, FWD Care Health insurance 2.0, FWD Care Hospitalisation Support insurance, FWD Care Accident insurance
- Online product FWD Big 3.
HDBank has the advantage of a nationwide network with over 300 banking transaction offices, over 21,000 financial transaction points and is trusted by 10 million customers. Due to its strong digital transformation and customer-centricity strategy, HDBank is able to improve the customer experience through its enhanced products and services. The digitalisation strategy has contributed significantly to HDBank's business results and enhanced the bank's position and competitiveness.
Mr. Pham Quoc Thanh – General Director of HDBank said: "With a customer-led vision, digitalisation at all stages is one of the driving forces to boost revenue and optimise costs at HDBank. Therefore, we put a great focus on developing and enhancing the customer experience with digital products and services. With that, our partnership with FWD Vietnam is expected to provide millions of HDBank customers with more insurance options on a digitalised platform."
Mr. Huynh Huu Khang, CEO of FWD Vietnam said: "We're excited about this partnership with HDBank, one of the leading commercial banks in Vietnam. The fact that FWD Vietnam's products are distributed through the HDBank system is a great opportunity to expand our operations and provide customers with access to unique insurance products as we continue changing the way people feel about insurance."
Through this collaboration, HDBank customers can access unique insurance products and services supported by leading digital technology. Customers will have an easier and faster purchase process, taking just a few minutes to buy insurance, and a few "touches" to claim. Customers can also enjoy the minimised exclusion lists applied in all FWD Vietnam products and receive maximum protection with a flat premium.
HDBank was established in 1990 and is one of the first commercial banks in Vietnam. Over 30 years of operation, HDBank is now one of the leading banks in Vietnam and is expanding internationally. HDBank has strong financial potential and modern technology, providing a wide range of financial and banking services to individuals, businesses, and investors.
For 2021 and the following years, HDBank - Happy Digital Bank, the modern and happy digital bank is directed to develop for the happiness of customers, employees, and the community.
With just one year of establishment, HDBank's Bancassurance Department has greatly contributed to developing a leading strategy in the market in terms of retailing which is driven by omnichannel business activities, diverse product portfolios, and quality services for customers in the bank's exclusive ecosystem. With a strong foundation and clear vision, after a year of development, HDBank's Bancassurance Department has continuously improved its ranking, currently in Top 6 of the market, and aims to become the Top 5 commercial banks with the highest premiums in Vietnam.
For more information please visit https://hdbank.com.vn/
About FWD Vietnam
FWD Vietnam was established in 2016 and is a member of FWD Group, a leading Asian-pan life insurer. With the priority strategy on digital development, FWD Vietnam is a differentiated insurance company, with a solid foundation based on its strengths: breakthrough products; high-quality distribution channels; digitised business processes and differentiated branding strategies. FWD Vietnam is consistently recognised as one of the fastest-growing life insurance companies in the market.
For more information please visit www.fwd.com.vn
Mr. Nguyen Ngoc Thuy
Tel: (028) 6256 3688
Mrs. Bui Thi Mai