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Prévoir Vietnam & NCB launch new life insurance product

Released at: 12:35, 26/05/2017 BUSINESS SPOTLIGHT

Prévoir Vietnam & NCB launch new life insurance product

CEO of Prévoir Vietnam Mr. Khamsaya Soukhavong. Photo: Prévoir Vietnam

Endowment life insurance product line to be exclusively provided through NCB's network.

by Quang Huy

The Prévoir Vietnam Life Insurance Co. and the National Citizen Bank (NCB) launched “Khang An Bao Gia” on May 20, the first endowment life insurance product line to be exclusively provided through NCB’s network.

Khang An Bao Gia was designed by Prévoir Vietnam for NCB’s clients so as to meet diverse needs, such as savings and protection of financial health against unexpected risks in life, ensuring financial protection for clients and their families.

It brings about financial accumulations for clients’ future plans following Prévoir Vietnam’s slogan: “A better tomorrow starts today”.

Deputy CEO of NCB, Mr. Ta Ngoc Da, speaks at the launch of Khang An Bao Gia. Photo: Prévoir Vietnam

In talking about the selection of partners, Deputy CEO of NCB Ta Ngoc Da said: “NCB expects to have a professional insurer specializing in providing insurance products to the bank’s customers and one that fully understands the needs of our clients. We selected Prévoir Vietnam as our strategic partner to deliver the most comprehensive and practical financial solutions to our customers.”

For his part, CEO of Prévoir Vietnam Khamsaya Soukhavong affirmed that the new endowment life insurance product being introduced to the Vietnamese market via NCB demonstrates the strong and long-term commitment by Prévoir Vietnam to cooperate with NCB in conducting studies and responding to clients’ needs, especially those who have already trusted NCB’s products and financial services.

“We would like to ensure that all NCB’s clients will be protected and can avoid all unpredictable risks in their life,” he added. “We are always next to our clients to give them the best support.”

Prévoir Vietnam is a member of Prévoir Vie, which is a long-standing group in finance and life insurance and enriched by a history of over 100 years in France. It is a leading life, healthcare, and retirement company and in particular a professional insurance company providing solutions and bancasurance for clients.

Together with an exclusive distribution agreement with NCB, Prévoir Vietnam has partnerships with 13 leading commercial banks in Vietnam in bancassurance and serves more than 350,000 existing customers. It offers a digital strategy and holistic approach to financial solutions. Based on the company’s current strengths in digitalization, Prévoir Vietnam brings international standard tools to its partnerships.

Founded in 1995, NCB has gradually positioned itself in Vietnam’s financial and monetary markets with increasing trust from clients, partners and investors. Its business areas include fund mobilization, fund receipt, trust services, loan services, discounted bills, joint venture investment, and payment services.

It will deploy a product strategy this year that focuses on the segments of housing, car, digital banking and bancassurance. The strategy is based on the completion of its business model, the enhancement of risk management capacity, and the expansion of partners and clients. To realize its target of increasing its charter capital by VND3 trillion ($132 million), NCB plans to select a foreign strategic shareholder from among its partners.

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