Topic: bancassurance

A government audit reveals incorrect expense declarations totaling over $36 million (VND 900 billion) in life insurance companies, alongside misleading practices, exposing cracks in the bancassurance system.

Despite being a relatively new concept, bancassurance is growing rapidly and been identified by insurance companies, especially life insurers, as one of two main distribution channels, along with the agent channel. With the revised Law on Insurance Business to take effect from January 1, 2023, the channel will develop even more strongly and sustainably.