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SCB Joins Hands with ACE Life to Develop Life Insurance Products to Well Match Customer Desires and to Reaffirm Bancassurance Leadership

2014-11-04 17:10 2240

BANGKOK, Nov. 4, 2014 /PRNewswire/ -- Siam Commercial Bank (SCB) is collaborating with ACE Life to strengthen its bancassurance business in Thailand through signing a Memorandum of Understanding (MOU) to jointly develop and offer well tailor-made life insurance products so as to respond to demands and expectations of all customer segments effectively.

Speaking about the collaboration, President of Siam Commercial Bank, Mrs. Kannikar Chalitaporn, said that, "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." As for bancassurance business, the Bank is committed to delivering products and services to fully cover the demands of customers in every segment, either mass, SCB FIRST (affluent), or private banking, through developing financial products and services that truly fit the expectations of customers.

The Bank recently signed the MOU aiming to develop and offer life insurance products jointly with ACE Life, the global life insurance division of ACE Group. Through such collaboration, SCB and ACE Life Assurance Pcl. in Thailand will join hands to develop and create more varieties of life insurance products so as to offer products and services that well fit the requirements and expectations of the Bank's customers up to the fullest extent possible in Thailand. This collaborative effort will strengthen and reaffirm the bancassurance leadership.

Commenting on this latest collaboration, President of ACE Life, Mr. 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."

Siam Commercial Bank's President, Mrs. Kannikar Chalitaporn (third right), and ACE Life's President, Mr. Russell Bundschuh (third left), jointly announced the signing of the MOU to jointly develop and offer life insurance products to better cover the wider variety of demands and expectations of customers in every segment in a bid to strengthen and reaffirm the bancassurance leadership. The event took place at the SCB's Head Office.
Siam Commercial Bank's President, Mrs. Kannikar Chalitaporn (third right), and ACE Life's President, Mr. Russell Bundschuh (third left), jointly announced the signing of the MOU to jointly develop and offer life insurance products to better cover the wider variety of demands and expectations of customers in every segment in a bid to strengthen and reaffirm the bancassurance leadership. The event took place at the SCB's Head Office.

Siam Commercial Bank's President, Mrs. Kannikar Chalitaporn, and ACE Life's President, Mr. Russell Bundschuh, jointly announced the signing of the MOU to jointly develop and offer life insurance products to better cover the wider variety of demands and expectations of customers in every segment in a bid to strengthen and reaffirm the bancassurance leadership. The event took place at the SCB's Head Office.

From left to right

Mr. Kevin Goulding, Regional President, ACE Life Asia Pacific
Mrs. Sally O'Hara, Country President, ACE Life in Thailand
Mr. Russell Bundschuh, President, ACE Life
Mrs. Kannikar Chalitaporn, President, Siam Commercial Bank
Ms. Araya Phuphanich, FEVP, Siam Commercial Bank
Mrs. Kanchana Rojvatunyu, FEVP, Siam Commercial Bank

ABOUT ACE LIFE IN THAILAND

ACE Life Assurance Public Company Limited (ACE Life) is part of the ACE Group, one of the world's largest multiline property and casualty insurers. With operations in 54 countries, the ACE Group provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. The ACE Group's core operating insurance companies are rated AA for financial strength by Standard & Poor's and A++ by A.M. Best.

Specifically to meet the needs of financial protection and security of its broad range of customers, ACE Life in Thailand (ACE Life Assurance Public Company Limited) offers a comprehensive range of quality life insurance products and services. The company partners with financial institutions and other companies to tailor individual policies for their clients and employees while ACE Life's team of over 2,800 agents service and support customers throughout the nation.

More information can be found at www.acelife.co.th.

Photo - http://photos.prnasia.com/prnh/20141031/8521406452

Source: ACE Life In Thailand
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