Lao, Thai cooperation promotes life insurance in Laos
Lao, Thai cooperation promotes life insurance in Laos
The Agricultural Promotion Bank of Laos is cooperating with Dhipaya Insurance Co., Ltd of Thailand to offer life insurance packages for customers in Laos as the country opens to Asean Economic Community integration.
The cooperation agreement was signed in Vientiane yesterday between the bank’s Managing Director, Mr Bounlom Phongchaleun and the company’s Managing Director, Mr Boochai Boonyanurak, and witnessed by officials of both sides.
“The cooperation is an important step in banking business and the life insurance area and shall help to open Asean regional cooperation in line with economic expansion in the region,” Mr Bounloum said.
The cooperation shall allow both organisations to provide service and advice on insurance and life insurance to customers, which is a new service set to be offered in every province throughout the country.
After signing, the company will send the team to provide training for human development to ensure they are sufficiently trained in customer services.
Both sides believed that the service will shall be launched within the month of August.
The Agriculture Promotion Bank (APB) was established in 1993 as a state-owned policy bank, and has since been considered as the country’s development bank, focusing on the agricultural sector.
The APB is the main public instrument in rural finance, with 50 percent of total lending directed towards policy lending.
Dhipaya Insurance Public Company Limited is a Thailand-based company engaged in the provision of non-life insurance.
The company’s main products include motor insurance, fire insurance, marine and transportation insurance, as well as miscellaneous insurance.
They hope that through the cooperation both organisations will contribute in developing Lao people’s livelihoods to be better and more sustainable.
