On September 20, 10X Consulting and Technology Co., Ltd. – the developer of the insurtech platform Saladin – and BaoViet Insurance Corporation signed a strategic partnership agreement for the digitalisation of embedded insurance products in service professions at the latter’s headquarters in Hanoi.
The move aims to leverage the market-leading strengths of each company to provide customers with transformative digital insurance experiences.
As a leading technology platform offering tailor-made, embedded insurance solutions, Saladin is working with BaoViet to design and implement an end-to-end operating procedure compatible with the specific requirements of the partner’s industries.
Saladin is responsible for coming up with a multi-tasking technology platform, capable of digitalising the entire purchase journey, from contract management to claims and complaints handling.
|Nguyen Quang Hung, deputy CEO of Bao Viet Insurance and Le Thi Thanh Van, CEO of 10X Consulting and Technology Co., Ltd., signed the strategic partnership agreement |
With the ambition of becoming a market leader in Vietnam for embedded insurance products and services, Saladin and BaoViet have been utilising insurance technology to provide added value to clients in the freight forwarding sector.
Both players’ insurance services for goods in transit, not limited to coverage by types of delivery services – on-demand, intra-city, inter-city, inter-provincial, and cross-border – have been used and trusted by more than 90 per cent of customers who are the end-users of shopping partners.
Both parties are committed to launching specialised products for existing payment platforms in Vietnam in the near future.
|The management boards of Saladin and BaoViet Insurance took photos at the signing ceremony |
Delivering a speech at the ceremony, Le Thi Thanh Van, co-founder and CEO of Saladin said: “This strategic partnership agreement with the ultimate purpose of bringing benefits to the end customers marked an important milestone of the cooperation between Saladin and BaoViet Insurance.”
“We want to leverage technology to make the insurance experience more practical and convenient. A proper insurance service solution must protect end customers against common risks with reasonable insurance conditions and fees. This is Saladin's entrepreneurial spirit,” added Van.
|The move aims to leverage the market-leading strengths of each company to provide customers with transformative digital insurance experiences. |
Nguyen Quang Hung, vice president of BaoViet Insurance said, “With this agreement, we expect that each of our end customers can experience the most optimal insurance programmes through our full, fast, and reliable consulting service offered by a team of veterans in the financial insurance industry.”
Hung noted that he expects the agreement to lay a premise to open up multiple exchange opportunities between the two companies, creating strong momentum for the businesses of BaoViet Insurance and Saladin.
As a Vietnamese insurtech platform, Saladin is developed by 10X Technology and Consulting Co., Ltd. and backed by global venture capital firms, such as Sequoia Capital and Patamar Capital.
Saladin provides a one-touch-solution platform, offering diverse protection to the general Vietnamese public.
The start-up also offers both B2B2C tailored insurance solutions as well as mass B2C protection packages from top insurers in Vietnam, with the mission of providing the Vietnamese people with well-rounded protection in life, empowered by smart technology and a dynamic product portfolio.
For years, Bao Viet Insurance Corporation has been recognised by domestic and foreign organisations as a prestigious insurance brand with the best service quality in Asia.
In the 4.0 era, BaoViet Insurance has also pioneered in applying a series of digital technology application solutions across its entire system, from sales, administration, customer services, and policy issuance to insurance benefit settlement processes and more, allowing users to maximise the benefits.
| ||Two major expos pave the way for foreign brands to enter Vietnam |
Two mega shows, which are taking place in Ho Chi Minh City, are opening opportunities for foreign brands to penetrate the Vietnamese market.
| ||AIA Vietnam and VPBank strengthen long-term strategic partnership |
AIA Vietnam and VPBank on March 15 announced that the former has extended its long-term strategic partnership with the latter for four more years.