Year 2020: What information must credit institutions provide to insurers?

According to the provisions of Article 7 of Circular 37/2019/TT-NHNN, the provision of customer information must comply with the legal regulations on confidentiality and customer information provision by credit institutions. Corresponding to each insurance agency activity, credit institutions provide the insurer with the following minimum information:

Illustration (source: internet)

- For customer introduction and insurance offering activities: In the case of individual customers, the information includes the customer's name, age, gender, contact address, phone number, and email address; In the case of organizational customers, the information includes the organization's name, address, phone number, email address, and contact person;- For the arrangement of insurance contract conclusion activities: Information related to the insurance buyer, the insurance object, and the necessary information for underwriting decisions to issue the insurance contract;- For insurance premium collection activities: A list of customers who have paid premiums and the total amount collected;- For the arrangement and settlement of claims and insurance payment activities authorized by the insurer: A list of compensation amounts, insurance payment amounts, and claim files, insurance payment request files.

Note, at least once a month according to the agreement in the insurance agency contract, the credit institution is responsible for cooperating with the insurer to reconcile information on new insurance contracts, insurance premium revenue, effective insurance contract fluctuations, and information related to the arrangement and settlement of claims and insurance payment when an insured event occurs, performed by the credit institution.

See additional regulations in Circular 37/2019/TT-NHNN effective from March 2, 2020.

Thu Ba

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