MB affirms its leading position in the insurance distribution channel through banks
In recent years, life insurance has received more and more attention from the Vietnamese market. Under the impact of the COVID-19 epidemic, people’s awareness of the benefits that life insurance brings is deeper and clearer. According to statistics, up to this point, the life insurance industry has 19 businesses, serving about 11% of the population in a large market of 96 million people.
Possessing a good foundation and autonomy in technology, MB has many advantages in attracting and retaining customers. A representative of Military Bank (MB) said that APE sales in February 2022 at the bank reached VND 108 billion, then in March MB continued to boom with a figure of VND 190 billion. With this result, MB officially ranks first in the Bancassurance market in Vietnam.
Attracting customers – taking customers as the center of innovation
According to a representative of MB, the bank always puts customers at the center of all innovation activities. Accordingly, MB continuously upgrades and builds suitable products according to customer segments, at the same time, clearly identifies suitable target customers according to customer tastes in the new context.
In particular, through consulting programs, MB identifies target customers as customers who need to deposit money, make profitable investments, and protect customers against risks.
Changing approach – enhancing customer experience
At MB, as soon as onboard, customers will be advised on products that are suitable for their own needs and preferences. Understanding customer behavior in the new trend, MB builds products in which customers can buy, self-monitor contracts and actively pay fees. Notably, customers will enjoy a series of incentives such as: 0% interest installment payment when paying with MB credit card, or up to 17% cashback when buying insurance via MBBank App.
At the same time, MB enhances the customer experience through incentive programs for family members and relatives. These can be mentioned as: cashback up to 12% when buying Combo Family, plus savings interest rate up to 0.4%, and many other gift-giving programs in kind.
In parallel with efforts to build a comprehensive and convenient customer experience journey, a representative of MB said that the bank is strongly shifting on the digital banking channel, introducing small, perforated premium insurance products. , simply attaching the same customer experience journey to digital platforms with the goal of capturing 20-30% of Bancas sales of all products. Along with that, MB focuses on innovating the selling model according to the UB (Universal banker) model, providing specialized care services for Priority customers, deposit customers, CASA customers…
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at Blogtuan.info – Source: cafebiz.vn – Read the original article here
