Cathay Insurance Vietnam and SAWAD Launch One-Stop "Dual Finance" Programme

HO CHI MINH CITY, Vietnam, Dec. 29, 2023 /PRNewswire/ -- Cathay Insurance Vietnam has partnered with SAWAD to launch a one-stop "Dual Finance" programme which allows customers to apply for the financial support, and at the same time, purchase separate mandatory insurance coverage in a streamlined process. Cathay will launch a personal injury insurance plan in December to serve dual customer needs for financial support services and automobile insurance.

The strategic collaboration combines both companies' strengths to provide Vietnamese customers with essential automobile and personal injury protection when they visit any of SAWAD's more than 300 outlets nationwide. Through this integrated offering, an average of more than 1,000 insurance policies have been sold each month since launched.

"We are delighted to partner with SAWAD on this innovative new offering," said Ming, I-Ching, President of Cathay Insurance Vietnam. "Along with the customised enterprise version of our digital insurance tool, Smart Agent Go (SAG), that Cathay has developed for this inter-industry collaboration, we have also adjusted our back-end system operations to support business processes to provide the most efficient and convenient digital insurance experience."

Ittiwud Lurngnateetape, CEO of SAWAD, added, "We are grateful to Cathay Insurance Vietnam for enabling this partnership. In addition to combining mandatory automobile motorcycle insurance and personal injury insurance with financial support services, we also hope both of two brands to launch more innovative financial solutions, rising customers' value in the future."

Cathay Insurance Vietnam has been thrilled success in its operations and continued to urge digital transformation, including revamping official website to enhance customer's digital purchase experience by 2021. Since then, it has also developed the insurance agent-exclusive 'Smart Agent Go (SAG)' digital platform to resolve pain points of inefficient processes and considerably shorten service response time. SAG currently processes over 500,000 policies annually. Cathay also received the "Excellent Contribution Award" from the Vietnamese Ministry of Finance for its outstanding contributions to the Vietnamese insurance market.

About Cathay Insurance Vietnam

Celebrating over a decade of operations in Vietnam, Cathay Insurance established its Vietnam subsidiary in 2010. Out of the 31 Property and Casualty insurance companies in the Vietnamese market, Cathay ranks 7th among the 14 foreign-invested providers. Headquartered in Ho Chi Minh City with a branch in Hanoi, the company leverages local expertise and the Group's comprehensive distribution resources (Cathay Life Insurance Vietnam, Cathay United Bank's Ho Chi Minh City Branch, and Indovina Bank) to provide best-in-class service to Taiwanese corporates and Vietnamese retail and commercial customers.

For more information on Cathay Insurance Vietnam, please visit the official website at https://www.cathay-ins.com.vn/.

About SAWAD

Sawad Tien Co Ngay JSC was established in 2016 and as one of the subsidiaries of International Holding Financial Group – 100% of the capital Thailand firm. Currently, the International Holding Financial Group is operating up to 6,000 branches across Southeast Asia. And in Vietnam, Sawad grows up 450 branches with 2,000 employees extended from the North side of Vietnam to the Mekong River.

Official Website: https://www.sawadvietnam.com/
Address of the headquarter: 457 Truong Chinh, Tan Thoi Nhat Ward, District 12, Ho Chi Minh City, Vietnam

SOURCE Cathay Financial Holdings Co., Ltd.