Agribank Insurance and Detech Bio sign comprehensive cooperation agreement

Agribank Insurance and Detech Bio Joint Stock Company - a member company of Detech Group, have just officially signed a comprehensive strategic cooperation agreement on product liability insurance. The cooperation between the two parties aims to protect consumer rights through commercial insurance solutions.

This cooperation model includes three parties: business - insurance unit - consumer. In which, Detech Bio is responsible for distributing products according to the announcement and circulation license. Agribank Insurance will be the insurance unit responsible for appraisal, assessment and payment in case Detech Bio products pose risks to users.

Agribank Insurance representative said that the signing was carried out after the assessment of the quality, origin and legality of the products provided by Detech Bio. For Detech Bio, this is a step in the strategy of expanding responsibility to consumers, especially in the context of users increasingly concerned about the transparency and safety of health care products.

According to the agreement, Detech Bio will prioritize the use of Agribank Insurance's insurance products in production and business activities and introduce them to partners and suppliers. At the same time, Agribank Insurance commits to designing suitable insurance products, accompanying Detech Bio in consulting, issuing applications, after-sales care and assessment - compensation.

The highlight of this cooperation is the product liability insurance contract - a solution specifically designed for Detech Bio to protect the company from legal risks when customers use milk and nutritional food products distributed by the company.

Detech Bio will prioritize using insurance products of Agribank Insurance.

Deputy Director of Corporate Customer Department - Agribank Insurance Pham Vinh Quang said that cooperation with Detech Bio is an important milestone, demonstrating the ability to deploy high-tech insurance products according to international standards outside the traditional agricultural market of Agribank Insurance.

On the contrary, “proactively purchasing product liability insurance is a clear and strong commitment to consumers. Not only providing quality products, we also protect the maximum interests of customers” - IMF project director of Detech Bio Hua Trung Hieu affirmed.

The two sides also agreed to establish a specialized focal point to coordinate the implementation of cooperation, support each other comprehensively in information, resources and security, and strictly comply with the law. The agreement takes effect from the date of signing and is automatically renewed annually if there is no notice of termination.

This signing affirms the increasingly important role of product liability insurance in protecting businesses against legal and commercial risks in a competitive market context.