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Banking & Finance

Bao Viet Insurance & Bangkok Insurance strike deal

Released at: 14:17, 17/08/2018

Bao Viet Insurance & Bangkok Insurance strike deal

Photo: Bao Viet

Two to provide insurance services for investors from Vietnam in Thailand and vice-versa.

by My Van

The Bao Viet Insurance Corporation and the Bangkok Insurance Company signed a cooperation agreement in Thailand on August 16 over providing insurance services for Bao Viet Insurance’s customers investing in Vietnam’s neighbor.

Bangkok Insurance will also cooperate with Bao Viet Insurance in providing insurance services for Thai investors in Vietnam.

The cooperation is expected to promote the development of the insurance business between Thailand and Vietnam.

Bangkok Insurance is one of the leading non-life insurance companies in Thailand, established in 1947 by its largest shareholder, Bangkok Bank. Total revenue in 2017 was more than $480 million and it is ranked A- by S&P and A- by AM Best.

During its 70 years of operation, Bangkok Insurance has secured many prestigious domestic and international awards. It leads the way in the application of technology in management and operations and is introducing new services such as web security gateways, tele claims, and the BKI iCare app for smartphones.

Bao Viet Insurance is recognized by many reputable international and local organizations as the best non-life insurer in Vietnam, possessing the broadest and most extensive network in the market. Unceasingly innovating to reach international standards, it has experienced over 50 years of strong development, affirming its position as a leading insurance company offering premium insurance products and benefits.

Moreover, it is also a pioneer in applying information technology and new technology solutions from Industry 4.0 not only in sales, professional management, compensation management, and customer data control but also in interacting with customers to bring the greatest convenience.

In the first half of this year, it recorded total revenue of more than VND4.5 trillion ($193.8 million); nearly doubling its market share in Vietnam to 21.2 per cent.

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