Prudential Thailand and Siam Commercial Bank (SCB) have launched a bancassurance partnership to jointly develop and distribute insurance products targeting high-net-worth clients.
Beginning February 01, 2018, three unit-linked products with both regular- and single-premium options will be available through SCB’s licensed financial advisers. These are SCB Private Link, SCB Protection Link, and SCB Prestige Link.
More products are expected to be added in the future.
“Bancassurance is an integral part of our multi-distribution strategy to reach and serve Thai customers,” said Arman Chowla, chief executive of Prudential Thailand, who also noted the low insurance penetration in the country alongside an increase in wealthy individuals. “This partnership will give us further opportunity to reduce the insurance gap in what is an important market for Prudential in Asia.”
Prudential has been present in the Thai market since 1995, where it began as a joint venture between Prudential Group of the UK and Thai Sethakij Life Assurance.
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