Prudential cooperates with HSBC to diversify financial products

According to HSBC, the economy is constantly growing, many people are increasingly looking for comprehensive financial solutions to manage assets and ensure stability. According to a survey of senior customers in Hanoi and Ho Chi Minh City conducted by the bank earlier this year, users prioritize health care and investment to increase assets and income.

To meet the growing needs of customers, the two sides cooperate to combine Prudential’s insurance solutions, specifically investment-linked insurance products, with expertise in asset management and services. HSBC’s personal banking service. This combination aims to increase customer experience, with insurance and investment solutions suitable for each group.

At the same time, diversifying the financial solutions that HSBC bank currently has, meeting the financial protection and planning needs of customers. Especially the group of well-off and high net worth customers (High-Net-Worth Individuals).

HSBC believes that the above customer group has been growing strongly in recent years, thanks to Vietnam’s impressive economic growth rate. This cooperation is established based on the common commitment of both units to serve users, providing a high-quality sales consulting experience.

At the signing ceremony, Mr. Conor M O’Neill, Deputy General Director of Finance, Prudential Vietnam, said life insurance is a tool to protect finances against risks. This solution is playing an important role in long-term, intergenerational financial planning. Currently, the middle class in Vietnam is growing rapidly, forecast to account for 50% of the population by 2030. He emphasized the necessity and potential of helping customers increase their access to insurance solutions. quality life.

“Through the new partnership with HSBC, we will grow together sustainably, contributing to economic development,” said Mr. Conor M O’Neill.

Mr. Tim Evans, General Director of HSBC Vietnam, said that Vietnam is expected to become the 10th largest consumer market in the world by 2030, thanks to the strong growth of the middle class. In this context, the company hopes to be able to support the well-off customer segment who are looking for insurance and investment products.

Therefore, cooperation with Prudential will help HSBC bring customers a variety of product options. “The two units will work together to meet customer needs, with quality investment-linked insurance products,” Mr. Tim Evans shared.

Prudential added that HSBC currently has a distribution network of branches and transaction offices across the country, serving a large number of customers. The bank is a strategic partner in distributing insurance through banking channels. (bancassurance) of the company in Vietnam.

This cooperation helps the unit expand its domestic distribution cooperation strategy, while promoting sustainable growth for the bancassurance sector.

According to experts, bancassurance helps exploit the strengths and outstanding aspects of both insurance companies and banks. In Vietnam, total fee revenue through bancassurance channel currently accounts for about 20% of total fee revenue of the life insurance market. The increase reached an average of more than 30% during the period when banks promoted insurance sales through bancassurance channels.

Experts added that for customers who buy insurance through banks, they will have access to comprehensive financial consulting services including insurance and services: savings, personal loans…