Prudential Vietnam and SeABank strengthen partnership

By Edil Corneille

Prudential Vietnam and Southeast Asia Commercial Joint Stock Bank (SeABank – Vietnam) have further strengthened their strategic partnership by signing a Memorandum of Understanding (MOU) agreement to distribute digital products. This marks a major milestone in the two parties’ digital transformation journey and is said to be fully aligned with the market’s rapid pace of digitalization.

Prudential Vietnam and SeABank entered into an exclusive bancassurance arrangement in January 2020 to provide consumers with a comprehensive range of customer-centric life insurance solutions. This partnership has already supported over 10,000 SeABank customers in reaching their financial and protection goals.

The partnership recently marked its first anniversary by signing an agreement to distribute PRU-Guard 24/7, a digital insurance solution, via SeABank’s e-banking platform. SeABank will be Prudential Vietnam’s first banking partner for the distribution of this product.

PRU-Guard 24/7 provides coverage against risks in daily life. The product is available on Prudential Vietnam’s e-Commerce page and e-commence partners’ platforms such as Shopee and Grab. It will be offered on SeABank’s e-banking digital platform soon.

Phuong Tien Minh, Chief Executive Officer of Prudential Vietnam said, “After almost one year of our strategic collaboration SeABank has become a very important partner of Prudential Vietnam. The MOU will see PRU-Guard 24/7 appear on SeABank’s e-banking platforms and reflects our shared long-term commitment to continuously enhance products and services that ride the wave of digitalization sweeping the market and will help us meet the needs of our customers seeking convenient insurance solutions for their daily lives.”

The partnership product is anticipated to be well received in the market and is especially well timed given global trends for more digitalization to create easy access to virtual services accelerated by current social dynamics, as reported in a press release by SeABank.