Krungsri extends its bancassurance contracts with Allianz Ayutthaya and Thai Life Insurance for another 10 years, expanding nationwide.

Krungsri Bank continues its long-term Bancassurance strategy by renewing its agreements to offer life insurance products through its branch channels with Allianz Ayutthaya Life Insurance and Thai Life Insurance for a period of 10 years. This leverages the strengths of its branches and personalized financial advice amidst the increasingly digital consumer behavior.

Mr. Siam Prasittisirikul, Head of Retail and Personal Banking Group, Bank of Ayutthaya (Krungsri). It was revealed that this collaboration is a 10-year renewal of the Bancassurance agreement, with clearly defined sales roles based on territories. Allianz Ayutthaya Life Insurance will be responsible for Bangkok, while Thai Life Insurance will oversee provinces nationwide. This ensures customers have access to a variety of life insurance products that cover long-term financial planning and cater to diverse lifestyles.

“Even with the continued growth of digital channels, bank branches remain crucial in providing in-depth, one-on-one advice. With a network of over 500 branches nationwide, our collaboration with these two leading life insurance partners enhances the customer experience, integrating digital technology and AI to improve service efficiency and drive sustainable long-term growth.”

sideMr. Thomas Wilson, Chief Executive Officer and Managing Director of Allianz Ayutthaya Life Insurance. It was stated that the continued collaboration with Krungsri reflects a shared vision to enhance life and health security planning through easily accessible Bancassurance channels, leveraging the strengths of Allianz Ayutthaya's branch network in Bangkok, Allianz Ayutthaya's expertise in life and health insurance, and the strength of the Allianz Group globally, to develop simple, transparent, and sustainable solutions.

whileMr. Vinyu Chaiyawan, Director and Chief Executive Officer, Thai Life Insurance. It was stated that the collaboration with Krungsri combines the strengths of the bank's extensive nationwide financial network with Thai Life Insurance's expertise in life insurance products and services, under the concept of "Care with Heart," to offer life insurance, health insurance, and financial planning solutions that meet the needs of customers at every stage of life.

“This partnership renewal reflects Krungsri’s role as the core of Thai bancassurance, leveraging its market understanding, branch network, technology, and strong partnerships to expand coverage reach and continuously enhance the customer experience in the coming decade.”

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