More and more consumers all over the world are turning to banks or intermediaries to seek professional advice for their savings, investment and protection needs.
More and more consumers all over the world are turning to banks or intermediaries to seek professional advice for their savings, investment and protection needs. The recent Aviva 2008 Consumer Attitudes to Savings Survey revealed that the proportion of consumers who sought advice on a pension or retirement savings plan increased to 48% in 2008 from 35% in 2004.
The survey, conducted by Aviva plc, the world's fifth largest insurance group, also showed that 93% of Malaysians are now more aware of the need for financial planning. The top three features Malaysians look for in financial services are:
- Fast and efficient service
- Advice and help they can trust
- Information that is clear and easy to understand
Hence, banks that offer easy-to-understand plans, that come with a comprehensive range of products and offer the services of a financial planner, are best positioned to satisfy the needs of today's consumers.
CIMB Bank Berhad is one such bank, recently launching EasyLife Solutions, a range of easy-to-understand insurance plans underwritten by CIMB Aviva Assurance Berhad.
The EasyLife Solutions range initially comprises four investment-linked products-the EasyLife Kids', EasyLife Men and Women and EasyLife Retirement plans as well as the EasyLife Money Back plan, which offers a full refund of the premium paid on maturity, in the event no claims are made during the cover period. Designed to be simple, transparent, affordable and easy to understand, EasyLife Solutions aim to meet customers' changing insurance needs at different stages of their life. For example, a young married couple can opt for the EasyLife Men's and Women's Plan and add on the EasyLife Kids when they have children.
Financial advisors are also on hand at CIMB Bank's wide network of branches to advise customers on the most suitable EasyLife Solutions plan to meet their savings, investment and protection needs.
EasyLife Solutions comprises some of Aviva's best bancassurance offerings in the Asia-Pacific region, which have been localised for Malaysians. The products leverage on Aviva's proven regional product and customer service infrastructure.
-ends-
If you have further queries or require more information, please contact:
Tricia Loh
Head, Brand & PR
CIMB Aviva
Telephone: 03 2614 3599
E-mail: effendy.hamid@cimb.com
Notes to editors:
About CIMB Bank
CIMB Bank is the commercial banking arm of CIMB Group while CIMB Islamic is the Group's global Islamic banking and finance franchise. Both CIMB Bank and CIMB Islamic offer their retail banking services to over 4.7 million customers on a dual banking platform in 367 branches nationwide.
CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups. Headquartered in Kuala Lumpur, its key regional offices are located in Singapore, Indonesia and Thailand. CIMB Group is owned by Bumiputra-Commerce Holdings Bhd, which is listed on Bursa Malaysia with a market capitalisation of over US10 billion. The Group has over 24,000 employees located in 9 countries.
About CIMB Aviva
CIMB Aviva is a joint venture between CIMB Group and Aviva plc. CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups, and Aviva is the world's fifth largest insurance group* and the largest insurance services provider in UK.
CIMB Aviva offers a comprehensive range of life insurance and Takaful products and services available at CIMB Bank and CIMB Islamic which operate on a dual banking platform in 367 branches in Malaysia.
CIMB Aviva also rides on the global expertise of Aviva, which services 45 million customers in 27 countries around the world. Aviva recorded total sales of £49.2 billion (RM337.5 billion) at 31 December 2007 and funds under management of £359 billion (RM2.28 trillion) at 30 June 2008.
*based on gross worldwide premiums
Average exchange rate 1£ = RM6.86 (2007), RM6.34 (6-month 2008)
About Aviva's 2008 Consumer Attitudes to Savings Survey
The survey covered 28,525 respondents in 25 countries with 1000 people surveyed in each market, except for China and India where a larger representative sample was used.