On 30th August 2017, in Ha Noi, Aviva Vietnam Life Insurance Company Limited (Aviva Vietnam) held a press conference to launch Aviva brand name in Vietnam market and announced the long-term development strategy with the aim to become the fully digital integrated insurer in Vietnam and carry out the community development programs that benefit all customers and the society.
- Officially launched Aviva brand name; injected investment capital and signed the exclusive partnership with Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank).
After increasing its capital by VND 850 billion, bringing the total chartered capital to VND 1,655 billion, Aviva Vietnam has officially changed its brand name to Aviva from VietinAviva and become one of the life insurance companies with the large chartered capital in Vietnam. This is a strategic decision of the Aviva Group - one of the world's leading insurance groups with more than 300 years of experience worldwide - to increase the long-term investing commitment to Vietnam market.
Accordingly, Aviva Vietnam's development strategy is to invest substantially in building the digital capabilities and information technology infrastructure in order to meet the evolving needs of Vietnamese customers. Digitalization will be fully embedded into every aspects of the company's operations including the development of distribution channels as well as the initiatives to improve the customer experiences, which leads Aviva Vietnam to become a fully digital-integrated company in Vietnam by 2020 with the best services and advanced technology, which offers the convenience and premium services to the customers.
Aviva Vietnam also completed the signing of a long term exclusive distribution agreement with Vietinbank, one of the leading banks in Vietnam with a large branch network nationwide. This distribution agreement attests to Aviva's long term commitment in the country as the insurer continues on its growth trajectory in the region.
In line with its multi-channel approach, Aviva Vietnam will continue to leverage the strategic partnership with Vietinbank while building a professional agency channel. Aviva Vietnam will focus on building the agency force who have in-depth product understanding and equipped with best in-class digital sales tools to provide the customers with the most convenient insurance purchase experiences.
Announce the community development projects: Aviva Community Fund and Aviva Scholarship Program.
In addition to driving the growth of the insurance market in Vietnam, Aviva Vietnam will also invest through various community development initiatives in 2017, namely Aviva Community Fund (ACF) and Aviva Scholarship.
The first to launch the ACF in Southeast Asia, Aviva Vietnam will fund projects that can bring about positive impact to the Vietnam community in three aspects - Environment, Community Health and Education. So far, it has already been launched in numerous markets across the world and has achieved great success in markets such as the UK, France, Canada, Italy, Poland and Hong Kong.
The Aviva Scholarship is an exclusive programme created by Aviva for its customers in Asia. Partnering with eleven prestigious universities in the UK, the scholarship aims to promote British education in Asia and assist outstanding students in the region to further their studies at leading UK universities by covering up to 20 percent of the tuition fees. It also provides the students with opportunities to apply for Aviva internship programme and the global postgraduate programme of Aviva group.
Chris Wei, Executive Chairman of Aviva Asia & FPI and Global Chairman of Aviva Digital, said:
"Vietnam is a high potential market in Asia with one of the world's lowest insurance penetration rate, stable economic growth and rising middle class and high income individuals. As a leading insurer with more than 300 years of experience, we are confident that our strategic partnership with VietinBank will propel Aviva's future growth in Vietnam. Together, we will strive to bring the best of insurance products and services to Vietnamese consumers while continuing to invest in community programmes that promote greater societal development."