Preferrred Life, an insurance coverage know-how firm in Vietnam, has lately launched its cell 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 match insurance coverage packages and simply perceive every product’s objective and advantages.
Obtainable on each Android and iOS units, IZIon24 will quickly supply 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 may be already a rising insurtech ecosystem within the nation.
Native insurtech participant INSO additionally has a cell app for buying insurance coverage. Telecommunication big Viettel has partnered with world insurtech firm bolttech to supply insurance coverage merchandise through the Viettel client 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 individuals.
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 normal insurance coverage trade will develop to $3.5 billion in 2026 from $2.6 billion final 12 months, rising at an 8.5% CAGR, in response to 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 need to change the notion of Vietnamese [people] about insurance coverage by offering a simple expertise with added worth by way of IZIon24,” mentioned Preferrred Life CEO Nguyen Thanh Duy.
