On the afternoon of October 5, 2017, Dai-ichi Life Vietnam and Saigon-Hanoi Commercial Joint Stock Bank (SHB) held Strategic Partnership Agreement signing ceremony at Melia Hanoi Hotel. The ceremony was honored to receive Mr. Vuong Dinh Hue – Politburo Member, Deputy Prime Minister, Mr. Bui Dang Dung – National Assembly’s Finance and Budget Committee Vice Chairman, Mr. Dao Minh Tu – State Bank of Vietnam Deputy Governor, Mr. Phung Ngoc Khanh – Director of Insurance Supervisory Authority Department, Ministry of Finance, and senior leaders from the Ministry of Finance, the State Bank of Vietnam, Dai-ichi Life Group, SHB, partners and representatives of local and international media.

With this partnership agreement, SHB is the sole agent to introduce and provide life insurance products of Dai-ichi Life Vietnam to all SHB customers throughout its network. Accordingly, all SHB customers will be introduced with and have an access to packaged banking and insurance solutions through a single transaction thanks to SHB’s nationwide network and Dai-ichi Life Vietnam’s insurance expertise. In addition, customers may also experience benefits from the strong financial foundation of SHB and practical values from insurance products of Dai-ichi Life Vietnam with the highest satisfaction through convenient one-stop-shop service. With this strategic cooperation, all customers of Dai-ichi Life Vietnam are also introduced to use synchronous, convenient, high quality financial and banking products and services offered by SHB at reasonable costs.

Besides existing traditional insurance products, in the future, the two sides will coordinate to develop product packages to suit specific needs of each SHB customer segment to bring customers comprehensive benefits and outstanding values. In addition, Dai-ichi Life Vietnam and SHB will also hold regular workshops to share best financial protection solutions for customers.

This is not the first time SHB has partnered with a foreign brand to develop its products and services – especially in retail banking as set out by strategic goals of the bank. Previously, SHB signed co-branding partnerships with two leading football clubs, Barcelona FC and Manchester City FC. These partnerships have brought to customers in general and fans of the two clubs in particular domestic and international debit and credit card products with many conveniences and incentives. Both Barcelona FC and Manchester City FC affirmed effectiveness in all aspects when cooperating with a competent financial institution like SHB in Indochina.

Dai-ichi Life Vietnam and SHB are committed to long-term and sustainable cooperation on the principle of equality, mutual benefit, mutual trust and strategies to invest in Bancassurance business in Viet Nam.

Mr. Tran Dinh Quan, Dai-ichi Life Vietnam’s Board Member and CEO, said: “With business philosophy of “customer first”, we are very excited to go hands in hands with SHB to enter a new phase on the path of sustainable development of the two sides. The 15-year long-term strategic partnership continues to give us the great opportunity to bring humanitarian values ​​of life insurance to more people in Vietnam. At the same time, this is also an opportunity for SHB customers to access diverse packaged financial protection products with many advanced features of Dai-ichi Life Vietnam. We will leverage our experience and background in addition to SHB’s extensive customer service network in Vietnam to promote this important distribution channel by human resource development strategies, infrastructure development and advanced technology application to make Bancassurance a “leverage” for sustainable growth of both sides”

Mr. Vo Duc Tien, Vice Chairman of SHB’s Board of Directors, said: “As a prestigious life insurance company with a long history of development and always leading the market, Dai-ichi Life Vietnam has many similarities to SHB in business motto and philosophy on the way to success and prosperity. That is, both are always transparent, creative and customer centric. The 15-year partnership agreement signing ceremony event is a milestone in creating a sustainable, long-lasting and prosperous foundation for Dai-ichi Life Vietnam and SHB. We believe that SHB’s commitment to “Solid Partner – Flexible Solutions” and Dai-ichi Life Vietnam’s commitment to “long-term engagement” will soon be concretized into bancassurance products with the best quality, best service and best professionalism”.

At the ceremony, Deputy Governor of the State Bank of Vietnam Dao Minh Tu highly appreciated the long-term strategic cooperation between SHB, one of the largest commercial joint stock banks in Vietnam and Dai-ichi Life, a big financial institution in order to offer outstanding benefits of insurance – banking products to the customers of both sides. “ I strongly believe this cooperation will open up a new threshold development to both SHB and Dai-ichi Life Vietnam. At the same time, it will spread out a positive effect upon finance and banking system, thereby accelerating finance-banking sector restructuring process with the objective of consolidating and enhancing institutions’ competitiveness and meeting the requirements of socio – economic development,”  Mr. Tu emphasized.

With the gradual shift towards higher non-interest income to improve prudential ratios and improve business efficiency, the cooperation between banks and life insurance companies is increasing and has become a trend. The cooperation between SHB and Dai-ichi Life Vietnam is considered to be a collaboration between the two brands with the same financial potentials and positions and that will increase benefits not only for both parties themselves but also for both parties’ customers with packaged bancassurance products.