Prudential Vietnam Assurance and Southeast Asia Commercial Joint Stock Bank (SeABank) have expanded their strategic partnership with an agreement to distribute digital products.

Under the agreement, Prudential will distribute a digital insurance solution called PRU-Guard 24/7 through SeABank’s e-banking platform.

PRU-Guard 24/7 offers coverage against daily life risks. SeABank will be Prudential Vietnam’s first banking partner to distribute this product.

In January this year, Prudential and SeABank signed an exclusive bancassurance partnership with a 20-year term to offer a range of life insurance solution to customers.

This partnership has already catered to over 10,000 SeABank customers.

Commenting on the new development, Prudential Vietnam CEO Phuong Minh said: “After almost one year of our strategic collaboration SeABank has become a very important partner of Prudential Vietnam.

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“The MOU will see PRU-Guard 24/7 appear on SeABank’s e-banking platforms and reflects our shared long-term commitment to continuously enhance products and services that ride the wave of digitalisation sweeping the market and will help us meet the needs of our customers seeking convenient insurance solutions for their daily lives.”

Earlier this month, Manulife (Vietnam) inked an exclusive 16-year bancassurance partnership with VietinBank to cater to the financial and insurance requirements of the Vietnamese people.

In November this year, Sun Life Vietnam Insurance Company, a subsidiary of Sun Life Financial, entered into a 15-year exclusive bancassurance partnership with Asia Commercial Joint Stock Bank (ACB) in Vietnam.

It followed Sun Life’s bancassurance deal with Vietnam’s Tien Phong Commercial Bank (TPBank) last year.