Techcombank makes life insurance by itself, Techcom Life launches to complete billion-dollar ecosystem

Based on the strength of understanding the needs of Vietnamese people, technological capacity and outstanding financial management experience from the ecosystem, Techcom Life is expected to be a life insurance company for Vietnamese people, leading the innovation of the industry and pioneering new generation insurance solutions "tailored" for Vietnamese people, similar to what Techcombank has done in the finance - banking sector with pioneering products that change the whole industry such as Zero Fee, Automatic Profit or Wealthtech. The ceremony was attended by representatives of the Ministry of Finance , the Insurance Association of Vietnam (IAV), Techcombank's leaders and strategic partners.

Vietnam is considered the fastest growing country in Southeast Asia, with increasing demand for financial security, health care and quality of life, the life insurance market is facing new opportunities with many positive prospects. Vietnam's insurance penetration rate is currently much lower than the regional average, showing great room for new businesses to enter the market.

With the vision of “Rebuilding the insurance industry, empowering the future”, Techcom Life will bring new insurance solutions, enhancing customer experience with modernity, transparency, simplicity, accessibility… encouraging each person to take charge and act for a fulfilling life every day.

At the launching ceremony, Mr. Ngo Viet Trung - Director of the Department of Insurance Management and Supervision - Ministry of Finance commented : "The management agency welcomes the entry into the life insurance market of domestic insurance companies such as Techcom Life. We expect that, with the available experience and technology platform in the financial sector, Techcom Life will bring advanced insurance solutions, better serving the needs of health protection and financial security of insurance participants, contributing to building a comprehensive and sustainable insurance market, achieving the goals set out in the Strategy for developing the Vietnamese insurance market to 2030".

Speaking at the ceremony, Mr. Mukesh Pilania, Chairman of the Board of Directors of Techcom Life emphasized : “Techcom Life was born to become a brand of new generation life insurance solutions in Vietnam, with the vision of rebuilding the insurance industry, empowering future autonomy. At Techcom Life, we not only aim for insurance solutions but also a more fulfilling life every day for customers. Today's customers want insurance not only as a shield but also as a financial management tool and to improve the quality of life for themselves and their families. Understanding those needs, Techcom Life is committed to being a reliable, long-term companion, empowering customers with flexible, transparent insurance packages and convenient digital services, serving three pillars of needs: Health - Finance - Quality of life.”

Mr. Chung Ba Phuong, General Director of Techcom Life shared: “ Our long-term development strategy is based on five factors: building sustainable trust, bringing outstanding value to customers, a seamlessly integrated ecosystem, an efficient distribution model and services based on technology and big data. This will be the competitive platform for us to execute our vision and bring the best insurance protection solutions to Vietnamese people . Through this, we hope to contribute to the Government in improving the quality of life for people in the new era of the country and building a life insurance industry that is more transparent, sustainable and trustworthy than ever.”

At the same time, the event also witnessed the signing of a comprehensive cooperation agreement between Vietnam Technological and Commercial Joint Stock Bank ( Techcombank ) and Techcom Life. Accordingly, Techcombank will become an insurance agent to distribute Techcom Life's life insurance and health insurance products. The cooperation between the two sides promises to bring comprehensive, advanced, transparent financial and health protection solutions, meeting the needs of each stage of development in life.

Mr. Jens Lottner - General Director of Techcombank affirmed: “The launch of Techcom Life marks an important milestone, a new step in Techcombank's strategy of building a comprehensive ecosystem. As a leading bank in Vietnam, with its reputation and strong financial and technological foundation, Techcombank and its ecosystem will accompany Techcom Life to bring comprehensive financial and health solutions with seamless, superior experiences to customers, contributing to increasing the rate of life insurance participation, expanding social security and increasing customer trust.”

Signing of Comprehensive Cooperation Agreement between Techcombank and Techcom Life

The birth of Techcom Life right after Techcom Non-Life Insurance Joint Stock Company (TCGIns) marked a strategic step forward in the journey to realize the comprehensive financial “one-stop shop” model, serving the entire customer journey in the ecosystem of Techcombank and all Vietnamese people, where they are truly the center of all values and feel secure in “Living fully every day”.

Source: https://daibieunhandan.vn/techcombank-tu-tay-lam-bao-hiem-nhan-tho-techcom-life-ra-mat-hoan-thien-he-sinh-thai-ty-do-10387893.html