BIC and OCB signed a cooperation agreement
Recently, BIDV Insurance Corporation (BIC) and Orient Commercial Joint Stock Bank (OCB) have signed a cooperation agreement. Accordingly, BIC and OCB will support each other in distributing products, services and developing brand name of the two parties.
In the field of insurance distribution through banking channel (Bancassurance), BIC and OCB will cooperate in distributing nearly 20 insurance products of BIC at transaction points of OCB nationwide. Especially, with advantage of car credit and intimate relationship with manufacturers, car showrooms, BIC and OCB will focus on strengthening distribution of car insurance products to make the most of this advantage.
For the best cooperation, the two parties will coordinate with each other in professional training and products. BIC will provide instruction to OCB in procedures and processes to exploit insurance operations, and at the same time, train and provide professional training to bankers, provide instructions for marketing programs, offering and guiding customers to participate in insurance of BIC. For claims, after receiving documents, BIC will directly guide customers to fulfill documents, settle claims according to regulations, communicate and cooperate with OCB when necessary.
BIC is the leading insurance company in developing Bancassurance channel both in quantity of products and network of providers. Bancassurance is considered as an important retail channel of BIC and is currently making a bigger contribution to insurance revenue with stable annual growth rate. Based on strengths and experience from many years of deploying Bancassurance, BIC has been actively promoting this retail channel. In 2015, OCB is the third bank to sign a cooperation agreement with BIC. The expansion of this cooperation will create an opportunity for BIC to approach the large number of OCB's customers.