In this episode, Michael Waitze talks to Quang Ninh Tran, CEO of SaveMoney Corporation, a digital insurance marketplace in Vietnam. The company is using data from telecommunication companies, banks, and social media for data analytics. Quang Ninh is an actuary by training and has more than 10 years of experience in the insurance industry. With SaveMoney, his goal is to help people of all income groups in Vietnam get access to financial products.
Quang Ninh shares how SaveMoney is working with Vietnamese telco provider Viettel, in order to provide digital, on-demand insurance solutions to Viettel’s customers. The startup is providing white-label solutions to their partners enabling them to sell digital insurance products to their customer base. In terms of products, SafeMoney is working with different insurers to underwrite the risks.
Michael and Quang Ninh are talking about the InsurTech market in Vietnam. The country demonstrates very low insurance penetration rates, especially in the low-income groups. SaveMoney is leveraging local social media, including the popular Zalo App, to get access to customers and data.
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