HANOI, Vietnam, Dec. 16, 2021 /PRNewswire/ -- Tokio Marine Insurance Vietnam Co., Ltd. ("TMIV"), the Vietnamese subsidiary of Tokio Marine Holdings, Inc. has launched "TM Care" an insurance app for Japanese companies operating in Vietnam.
TM Care app’s screens from left: Homepage; Product details page; Plan selection page
Vietnam is still developing its public medical insurance system and currently there is a 70% co-payment rate for medical treatments at non-designated hospitals, which has created needs for private medical insurance.
Japanese companies operating in Vietnam are increasingly looking to establish insurance plans for their employees to enhance their employee benefits programs. With smartphone penetration rate in Vietnam rising to more than 60%, there exist an opportunity to provide a platform that allows employees to purchase insurance conveniently through smartphones and tablets.
Considering the current market conditions, TMIV has developed "TM Care" an insurance app for employees of Japanese companies operating in Vietnam. The app, which leverages on Tokio Marine Group's expertise in online insurance sales in Japan, enables paperless, cashless and contactless insurance policy processing.
Through the app, employees can purchase private medical insurance easily on their own, which minimizes the time and effort for HR departments' personnel to administer the same.
In addition to medical insurance, TMIV also seeks to promote insurance protection in the country by offering personal accident insurance, automobile insurance and personal liability insurance, which are currently having a low penetration rate in Vietnam.
On top of providing the application to Japanese companies operating in Vietnam, TMIV will also use it as a platform for providing digital insurance in Vietnam and consider its use in a wider range of applications including the B2B2C market for members, collaboration with point services and target marketing leveraging on AI.
The app was first launched in November 2021 with subsequent releases in phases. TMIV will continue to enhance the application to meet the needs of its customers by continuously improving user experience and its products offerings.
About Tokio Marine Group
Tokio Marine was established in the year 1879 as the first insurance company in Japan and has grown over the decades, now offering an extensive selection of General and Life insurance products and solutions in 46 countries and regions worldwide.
About Tokio Marine Insurance Vietnam Co., Ltd. (TMIV)
TMIV is the first foreign-invested non-life insurer established in Vietnam since 1996 with its current shareholders being the two leading insurance groups in Japan and Vietnam – Tokio Marine Group and Bao Viet Holdings. The company has been providing an extensive range of non-life insurance products and services of Japan quality to its domestic and foreign customers (with specialty for Japanese-invested corporations in Vietnam), to deliver key safety and security solutions to safeguard against risks in business operations and in life.