Manulife Vietnam and Techcombank announce an update to their exclusive partnership in the country.
As per the agreement, the two parties will discontinue their exclusive insurance distribution partnership. Legitimate benefits of customers according to the insurance contracts signed with Manulife will be guaranteed by Manulife, and Techcombank commits to accompanying their customers.
Manulife Vietnam, a leading life insurance company, and Techcombank, a top private bank in Vietnam, initiated their strategic collaboration in 2013. Their shared goal and commitment were to offer the best products and services to meet their customers’ growing financial and insurance needs.
Throughout their partnership, they have achieved significant milestones in providing optimal life and health insurance solutions to their clients. Both Manulife Vietnam and Techcombank are proud of their joint accomplishments and hold the highest respect for each other.
Given the evolving market dynamics, strategic shifts, and new requirements of the Insurance Business Law, Manulife Vietnam and Techcombank have been engaged in discussions regarding the collaboration terms to adapt to the needs of both parties and ensure long-term benefits for their customers.
After careful consideration and deliberations, Manulife Vietnam and Techcombank have decided to discontinue their exclusive insurance distribution partnership effective October 14, 2024. Post this date, Manulife’s insurance products will no longer be distributed through Techcombank’s channels. Techcombank will continue to support and guide customers in contacting Manulife for any requests related to their insurance contracts signed with Manulife. This decision is made with the utmost respect for each other’s objectives and business orientations, while also ensuring the legitimate rights and interests of customers.
The termination of this collaboration does not affect the rights and interests of customers who have participated in Manulife Vietnam’s insurance contracts through Techcombank. All customer contract benefits will remain unchanged and will be fully guaranteed by Manulife. Techcombank commits to accompanying Manulife and its customers to ensure a smooth transition, helping customers understand that there are no changes to their insurance contracts, and reassuring them to continue maintaining their insurance policies with Manulife Vietnam.
The customer care services and benefits related to the insurance contracts signed through Techcombank will continue to be handled by Manulife Vietnam’s professional team, ensuring convenience and speed for customers.
As a life insurance company under Manulife Financial – a leading financial group from Canada with over 130 years of experience and currently serving over 35 million customers in North America, Europe, and Asia – Manulife Vietnam will continue to distribute its insurance products through its existing agency and partner bank channels while also exploring expansion into other distribution channels to cater to diverse customer needs.
With its vision of “Transforming Financial Services, Elevating Life Journey,” Techcombank remains committed to its customer-centric strategy, promising to deliver valuable financial solutions and the best experiences to its customers, including life and non-life insurance products in the future.
Manulife Vietnam and Techcombank pledge to continue operating with a customer-centric mindset while constantly innovating and evolving in the insurance and banking sectors to offer enhanced products, services, and experiences to their valued customers.
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