Prudential Vietnam Assurance Private Limited and Southeast Asia Commercial JointStock Bank have signed a Memorandum of Understanding (MOU) as a step ahead to foster their partnership in the distribution of digital products.
The partnership enables Prudential Vietnam to distribute a digital insurance solution called PRU-Guard 24/7 using SeABank’s e-banking platform that already caters over 10,000 SeABank’s customers. The solution offers coverage against everyday risks.
Earlier this year, Prudential Vietnam and SeABank had signed an exclusive bancassurance agreement to boost customer-centric insurance solutions following a 20-year term. SeABank became Vietnam’s first banking partner in distributing PRU-Guard 24*7.
In a statement, CEO of Prudential Vietnam Phuong Minh commented on completing a year with SeABank as an important partner for Prudential. The MOU will enable PRU-Guard 24*7 visible on SeABank’s e-banking platforms, reflecting a shared commitment to enhance services and products and meet the needs of customers with comprehensive insurance solutions, he added.
SeABank has over 170 branches and 1.2 million customers in Vietnam, and the current shift towards digitization will contribute to its mission of becoming the most popular bank in the country.