Techcombank, one of Vietnam’s largest commercial banks, and insurtech, CoverGo, are joining forces to launch a tool that will streamline Techcombank’s distribution of life insurance products across more than 300 Techcombank branches and 2,000+ users. Introducing iTCBlife, a digital bancassurance platform that empowers customers to have goal based discussion with Techcombank advisors to match life insurance products specific to their needs and get on-boarded seamlessly.
With iTCBlife, Techcombank will now provide a holistic needs based insurance advisory solution to customers and help them with planning their life goals related to child education, retirement and wealth planning. This solution brings digital bancassurance transformation to Techcombank and to the traditional Vietnamese insurance market as a whole. With this digital tool, Techcombank will propel its customer-centric growth strategy by improving service offering, customer experience and increase in productivity.
The unique features of iTCBLife:
iTCBlife digital bancassurance advisory tool provides an engaging customer journey focusing on an excellent user experience and simple design. Key features are:
- Simplicity – allows customers and advisors to easily find information, calculate needs, compare options, and choose products.
- Personalisation – recommends the right options based on customers’ needs.
- Convenience – enables an accelerated process by minimising the number of steps
Terry Li, Head of Insurance of Techcombank: “Vietnam is one of the fastest growing insurance markets in ASEAN propelled by the young population and strong GDP growth. As one of the leading banks, TCB is committed to serving our customers with the best protection advisory service and solutions to meet their different needs efficiently. We are very excited to enable our entire branch network with the game-changing tool iTCBLife, with the firm belief that this will accelerate our customer-centric growth strategy. We are delighted to have CoverGo be our partner and make this innovative idea a reality together.”
Pranav Seth, Chief Digital Officer of Techcombank: “To achieve our vision of ‘Change banking, Change lives’, Techcombank is embarking on a customer-centric, data and digital first transformation. With the increasing demand for insurance in a post-pandemic world, digitally augmenting our front line to have personalised conversations with each client is a core priority. Our partnership with CoverGo will enable this experience and builds on our open innovation approach to partner and co-create with leading fintech companies across the globe.”
Tomas Holub, CEO of CoverGo: “We are very excited to spearhead digital insurance transformation in the Vietnamese insurance market with the introduction of our cutting-edge technology. We find Techcombank to be an ideal partner to drive innovation thanks to the bank’s scale across the country and like-minded goal of providing the best tools and experience to its agents and customers. Techcombank’s agile speed has not only been impressive but allowed us to launch the full solution within three months of commencing our cooperation. We look forward to more collaboration and new product launches in the Vietnamese market in the future.”