Manulife to meet customers with complaints related to SCB

Manulife Vietnam held a press conference on April 26 to announce the plan to settle complaints from customers who bought Tam An Dau Tu insurance products distributed through Saigon Commercial Joint Stock Bank (SCB).
Mr. Sachin N. Shah, Chairman of the Board of Directors of Manulife Vietnam, speaks at the press conference.

Mr. Sachin N. Shah, Chairman of the Board of Directors of Manulife Vietnam, speaks at the press conference.

During the press conference, Mr. Sachin N. Shah, Chairman of the Board of Directors of Manulife Vietnam, announced that the company would reach out to SCB customers who have submitted complaints about their participation in Tam An Dau Tu insurance products before April 30. The discussion period for resolving these complaints will start this week, and Manulife Vietnam will assess the completeness and legality of the submitted documents, conduct interviews and confrontations with consultants and bank staff, and review all relevant evidence provided by customers. The company aims to resolve these issues before June 30.

In response to a reporter's question about why only complaints submitted before April 30 will be dealt with, especially since there are only two days left before the holidays, Mr. Sachin explained that several months ago, the press reported numerous complaints from customers related to the SCB distribution channel. However, Manulife Vietnam had already received complaints since the end of 2022, and in the past few months, there has not been a significant increase in the number of complaints. Therefore, the company believes that most customers who intend to make complaints have already done so.

Through a preliminary review, it appears that, in most cases, customers do not have sufficient evidence to cancel their contracts. However, Manulife Vietnam will take into account other factors and consider other options, such as reducing the insurance coverage amount.

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