Generali Vietnam Life Insurance and Orient Commercial Joint Stock Bank (OCB) have signed a bancassurrance contract whereby the bank will exclusively distribute Generali’s insurance product in the country.

As per the terms of the 15-year agreement, OCB will distribute Generali Vietnam’s life and health insurance products such as VITA – Live Confidently; VITA – Golden Shield; VITA – Live Optimistically; VITA – Live Prosperously, among others.

These insurance plans will be offered through OCB’s branches as well as through an online platform.

Additionally, both partners will develop financial and insurance plans, boost distribution channels, and encourage the use of digital technology, aimed at improving overall customer experience.

Commenting on the partnership Generali Vietnam CEO Tina Nguyen said: “We have enjoyed and valued our partnership with OCB over the last two years and now look forward to building on our excellent business performance together under this new exclusive partnership.

“This strengthens our relationship even further and highlights our commitment to work together to develop customised solutions and products that will cater to different OCB customer segments.

“This commitment is based on our mutual strengths in data analysis, digital capabilities and shared a focus on customer centricity.”

OCB CEO Nguyen Dinh Tung stated: “The exclusive partnership between OCB and Generali recognises the increasing development and success of the bancassurance model in Vietnam to leverage and enhance the strengths of sides, bringing mutual efficiency as well as benefits for customers.”

Generali Vietnam operates as a member of Generali Group, whose operations across 50 countries where it serves 61 million customers with a team of almost 71,000 employees.