Techcombank and Manulife Vietnam strengthen their bancassurance partnership
Techcombank recently completed its transition to a direct sales model with authorized Techcombank advisors who now advise clients directly on Manulife Vietnam products, helping them to ensure they receive the best protection solutions to meet their specific needs. .
The partnership will build on the sales model by leveraging digital capabilities to create market-leading and differentiated user experiences specific to Techcombank customers.
Techcombank and Manulife Vietnam have been offering innovative insurance and wealth management solutions since 2017 as part of their exclusive 15-year agreement. A strong governance structure has been put in place to support the partnership and help to consistently implement sound business practices.
“Techcombank is proud of its long-standing partnership with Manulife Vietnam and the opportunity this gives us to better meet the health, protection and investment needs of our clients,” said Jens Lottner, CEO of Techcombank.
“The renewed focus will combine Techcombank’s digital capabilities with our partner’s technology, insurance expertise and resources to deliver more cutting-edge digital experiences, products and solutions to Techcombank customers. “
Inside a Techcombank branch. Photo courtesy of Techcombank
Professionalism, technology and new opportunities
Manulife Vietnam is committed to providing better access to local and regional training and learning resources, thereby helping to improve the skills and professionalism of the bank’s employees.
As part of the review, Techcombank increased its investment by recruiting highly qualified personnel in data and technology disciplines with expertise in artificial intelligence, data science and learning. Automatique.
New skills recently acquired will allow the joint product development process to be even more customer-centric, enabling a new level of segment focus when designing value-added features.
Manulife Vietnam’s strategy is focused on delivering market-leading digital and customer experiences, such as their popular eComplaints and ePOS solutions. TCB advisors now have access to the ePOS digital point of sale solution which will help improve their productivity. TCB customers will also benefit from an enhanced complaints experience with eClaims, allowing them to submit complaints digitally while in most cases decisions are made automatically. Manulife Vietnam is also set to launch a new customer portal that allows customers to conduct digital transactions.
Unique products, platforms and experiences
A full range of Manulife Vietnam product solutions have been available to Techcombank customers since October 2017. Techcombank and Manulife Vietnam are both committed to designing and introducing unique products and solutions tailored to customer needs.
To improve the customer experience, Techcombank and Manulife Vietnam are also preparing to co-develop a common digital platform. This initiative will involve the co-development of an end-to-end sales and advisory model that integrates Techcombank’s digital needs analysis tool (iTCB Life) with the digital insurance submission solution (ePOS) of Manulife Vietnam.
The integrated model will help Techcombank branch and sales representatives deliver solutions tailored to customer needs, submit paperless documents, and reduce complexity during the onboarding experience. The new platform is expected to launch in the fourth quarter of 2021.
Manulife Vietnam is a foreign-owned insurer that was licensed in the market in 1999. As one of Vietnam’s leading insurers, it now has around 1,000 permanent employees and over 57,000 contract agents, in serving more than one million customers.
Techcombank is listed on the Ho Chi Minh Stock Exchange (HoSE) under the name TCB VN. It was established in 1993 as Vietnam transitioned from a centrally planned economy to a more market-oriented economy.
Techcombank provides a wide range of banking solutions and services to 8.9 million retail and business customers in Vietnam through an extensive network of over 300 transaction offices across the country. The bank’s ecosystem approach, which is implemented across several key economic sectors, further differentiates Techcombank in one of the fastest growing economies in the world.
Moody’s gives Techcombank the highest rating among Vietnamese banks with a Ba3, a positive outlook as the only bank constrained by sovereign rating. The bank is also rated by S&P with a BB-, Stable Outlook.
Techcombank was named “Best Bank in Vietnam” by Euromoney in 2018 and 2021, and “Best Bank in Vietnam” by FinanceAsia in 2020, 2021.