Generali Vietnam Life Insurance and Orient Commercial Joint Stock Bank (OCB) have signed a bancassurrance contract whereby the bank will exclusively distribute Generali's insurance product in the country.
Under the agreement, OCB will be the exclusive distributor of Generali Vietnam's life and health insurance products to meet customers' needs in healthcare, protection, savings and investment.
Generali's pre-eminent products such as VITA - Live Confidently; VITA - Golden Shield; VITA - Live Optimistically; VITA - Live Prosperously; and etc., will be distributed via OCB's country-wide network and online channels.
The exclusive partnership between OCB and Generali recognises the increasing development and success of the bancassurance model in Vietnam"
Additionally, both partners will develop financial and insurance plans, boost distribution channels, and encourage the use of digital technology, aimed at improving overall customer experience.
Tina Nguyen,Generali Vietnam CEO said: "We have enjoyed and valued our partnership with OCB over the last two years and now look forward to building on our excellent business performance together under this new exclusive partnership.
"This strengthens our relationship even further and highlights our commitment to work together to develop customised solutions and products that will cater different OCB customer segments. This commitment is based on our mutual strengths in data analysis, digital capabilities and shared focus on customer centricity."
Nguyen Dinh Tung, CEO of OCB, added: "The exclusive partnership between OCB and Generali recognises the increasing development and success of the bancassurance model in Vietnam to leverage and enhance the strengths of both sides, bringing mutual efficiency as well as benefits for customers.
"I hope this signing ceremony will be the foundation for OCB and Generali's cooperation in developing and distributing high quality life insurance products to meet the needs of each customer segment and earn long-term trust from customers."
Generali Vietnam is a member of Generali Group. After 8 years of operation, Generali Vietnam currently has a nationwide network of over 60 GenCasa (agency offices) and customer service centers, serving approximately 200,000 clients including individuals and insured members of domestic and foreign businesses in Vietnam.
Generali Vietnam operates as a member of Generali Group, whose operations across 50 countries where it serves 61 million customers with a team of almost 71,000 employees.