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Ultimate Life, an insurance coverage know-how firm in Vietnam, has just lately launched its cellular insurtech app.
Referred to as IZIon24, the app permits customers to browse and select from a listing of insurance coverage merchandise, buy and handle their insurance policies, and declare compensation.
With an intuitive interface, it additionally permits customers to check insurance coverage packages and simply perceive every product’s objective and advantages.
Accessible on each Android and iOS gadgets, IZIon24 will quickly provide insurance coverage merchandise tailor-made to a buyer’s wants. There’s additionally a plan to develop its product portfolio.
MARKET SNAPSHOT
IZIon24 is touted to be the primary pocket insurance coverage app in Vietnam. Nonetheless, there’s already a rising insurtech ecosystem within the nation.
Native insurtech participant INSO additionally has a cellular app for buying insurance coverage. Telecommunication large Viettel has partnered with world insurtech firm bolttech to supply insurance coverage merchandise through the Viettel shopper app. AI-powered insurtech platform SaveMoney has additionally teamed up with one other telecommunications firm, Vinaphone, to succeed in thousands and thousands of uninsured Vietnamese folks.
In the meantime, Singapore-based insurtech firm igloo has been providing Residence Content material insurance coverage in Vietnam through its partnership with e-commerce platform Shopee.
It’s forecasted that Vietnam’s common insurance coverage trade will develop to $3.5 billion in 2026 from $2.6 billion final 12 months, rising at an 8.5% CAGR, based on GlobalData.
ON THE RECORD
“IZIon24 was created with the intention of serving as a bridge to carry appropriate insurance coverage merchandise nearer to clients, and leverage superior know-how options to reply their wants. In that sense, we additionally wish to change the notion of Vietnamese [people] about insurance coverage by offering a simple expertise with added worth by IZIon24,” stated Ultimate Life CEO Nguyen Thanh Duy.
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