Siam Commercial Bank (SCB) has partnered with ACE Life to develop life insurance products and expand bancassurance business in Thailand.
A memorandum of understanding (MoU) has been signed to this effect to jointly develop and offer life insurance products, in order to meet demands and expectations of all customer segments effectively in the country.
Siam Commercial Bank president Kannikar Chalitaporn said: "The Bank strictly follows customer-centric principles as a strategic thrust in order to develop financial products and services in response to the wider variety of customer requirements."
For bancassurance business, the bank will develop financial products and services to cover the demands of customers in every segment, either mass, SCB FIRST (affluent), or private banking.
ACE Life president Russell Bundschuh said: "ACE Life is more than delighted with this collaboration with SCB in Thailand.
"The synergy of SCB’s robust network and quality customers, combined with ACE Life’s expertise in life insurance, will help ensure the success of our collaboration in offering innovative life insurance products that well match the customer requirements."
Image: Officials during the signing of the MoU to jointly develop and offer life insurance products. Photo: courtesy of The Siam Commercial Bank Public Company Limited.