Digitalize Insurance

with
VIFO
Investment Highlights
Big Market Experienced team MVP Ready

Vietnam Insurance With vast experience on : MVP ready and got

Total Premium: 6.9 Business Domain, used and
B$ (2019) Management, Legal, interested by 9 Big
Growth 20% YoY Technologies, Finance, etc. Partners.

Blue Ocean Market Recurring revenue Scalable

No clear competitors Revenue is generate As an insurance

but huge chances for via SaaS fee, small backbone system,
cooperation and operation cost there is no limitation
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partnership of how far can we go
1 - Company in Brief

Vietnam Insurance Finance Online (VIFO) is a SaaS platform to connect and

provide a full scale solutions for all insurance stakeholders at once.

Achievement & Tractions

• Public in July 2020
• With target to become the back-bone of • 0$ spending on marketing.
Vietnam insurance market, VIFO was built • 9 insurances partners signed contracts.
with great ambition and stable infrastructure • Revenue in August > 50k$
• VIFO have MVP products which is used and • >1200 customers within 1st month of launching
immediately interested by almost Non-life
Insurance Providers.
• With our unique end-to-end solution, VIFO
does not have any clear competitors in Products:
Vietnam and get praised by most partners

Signed contracts

15 Travel agencies
1 Finance companies3
2. Insurance Market facts

30 Non-life insurers Total Premium: Premium growth

18 Life insurers 6.9 B$ (2019) > 20% YoY for 6
2 re-insurers (Non-life : 2.26 B$, consecutive years
Life 4,66 B$)

850+ nonlife 57 Banks Plenty of

Products (2018) 18 Brokers insurtech
450+ Life 437,738 agents startups
products (2016)

Huge Potential Under-developed Fragmented

Only few people in Most of transaction Too many players,
94 millions of insurance still yet, none really
Vietnamese have paper-based. made a significant
Insurances, there Lack of transparency impacts or decent
are plenty of between investment on
rooms for stakeholders technology
innovation.
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2. Insurance traditional process

Until now, insurances companies in Vietnam are still using traditional approaches with pen and
papers to sell and claim insurance

Print form Filled form Send by post Issue the card

10 mins Payments Receive 2 weeks

Brokers / payment
Agencies 20 mins Customers
Paper forms 3-5 days

The process takes huge time, money and super slow feedback result, not mentioned plenty of errors
can happen.
• Avg. cost on processing an order is about 10- 50’000 VND
• Avg. time to process an order is about 10-30 mins
• Avg. time to receive result is about 3-7 working days
• Most salesmen can’t calculate premium for complicated products.
• Plenty of cheating has been recorded due to traditional methodologies

ALL insurance companies want to digitalize their companies but have no expertise nor resources
to do that.
E.g: PVI has total about 10 IT people, mostly working on networking and infrastructure

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 3. VIFO first solution : online sales platform
Customers

Receive 5.Send e-certificate

confirmation within
2 minutes.

2. Pay 3. Confirm payment (email/SMS)

1. Create order 4. Receive information

6. Get commission
Salesmen / Agencies

Create order within Payment Zero selling cost

30s

VIFO’s architecture was dynamically and careful designed to be able to

adapt to multiple insurers, multiple sales team & multiple products 6
3. What makes us unique: Multiple stakeholder solutions

Without VIFO With VIFO

Insurers Distributors Insurers Distributors

To digitalize their salesforces, each companies, banks, brokers & agencies must invest heavily in
infrastructure to understand other sides, build the application, and connect to do the sales.
OR
VIFO can work as a Centralized hub to reduce the cost for all parties.
Parties can enjoy the benefit of digitalization without paying heavily up-front via SaaS.
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3. VIFO DMS solution

Total distribution solution for Insurance

Solving almost sales issues via smartphone.

01 Multi-level Distribution 02 Digitalized Sales Process 03 Smart Price calculator

VIFO allow people build and From order, payments till e-policies, We help the salesmen calculate the
manage their own team and users and customers can finalize premium quickly based on
downline easily. Enable salesmen to within few mins and receive customers' input which was
sale in rural area or even with small continuous support online. challenged or impossible previously.
order. Reduce the conversation rate. The sales was done with speed and
high accuracy and prevent cheating.

04 Natively interconnectable 05 Minimum time to market 06 Realtime report

Out of the box interconnections, API 2 weeks to put a new product lines All result will be reflect across
first design. online to ALL distributors. management level for quick action.
All providers, payments gateways, 1 day for new product with similar With high level of authorization,
distributors can easily connect with layout. report can be shared and view with
us. Thus allow infinitely scalable Give unfair advantages for providers high security.
potential

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4. Our team

CTO – Co-founder CEO – Founder COO - Co-Founder

Nguyen Vo Vương Việt Linh Maisa Ksor
CEO of Alan Software Former MD at SmartBuddy Deputy Director at GIC SG
Former SA at SmartBuddy Ventures Builder at Fram^ Former Branch Director at AAA
Former TA at VNG Sr. Data Analyst at SecutixSA 14 years+ in Insurance
Data Officer at Nielsen

Strategy Advisor Strategy Advisor - Partnership Advisor - Partnership Advisor - Legal Advisor -
Ricky Wald Nguyen Minh Trí Vi Phan Phúc Đình Pham Nguyen Ngoc Anh Nguyen Doan
Former CEO at Deputy President at BD Director at PVI Head of Bancassurance at Legal advisor at Bao
SmartBuddy PVI Former BD Manager at ACB Minh
Director at Boston Vietnam Airlines Head of Business Branch Director at Bao
Consultant Group Development at PTI Minh
UK
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 5. The journey

We are moving fast with a clear direction ahead

• Finalize Flight delay

Insurance
• 1st introduction for
• 9 insurers signed contracts
insurers
• 15 Travel agencies signed
• Initialize Personal
insurance • GMV first month > 50k$

10.2019 04.2020 07.2020 08.2020 09.2020

• Founded
• Finalize House Insurance • Open for
• Start building the investment
• Ready motorbike
infrastructure
mandatory insurance • 1st order by
and insurance
Insurance teams
requirements • Public website go-live
• 1st order by Travel
• 1st contract with insurer
agencies

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5. The journey: Our Partners

Signed contracts: by August 2020

15 Travel agencies
1 Finance companies

Going to sign soon

60 Travel agencies
3 Finance companies

On discussion
Re-insurance & Claim

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5. Competitors Potential Partners

There are plenty of insurtech startups in Vietnam. Yet, each start up with limited resources are spreading
into : create new products, marketing, sales and technologies

Insurance comparison Innovate Products

Traditional Salesforces Extra services

Instead of competing, we are on discussion to cooperate

with these start up for a better insurance market in Vietnam.

VIFO will bear the cost for technical development for our partners
so they can focus on others areas 12
6. Benchmark – Wefox - Group

Headquarter: Berlin
Founded: June - 2015
Revenue: 40 mil $

• 20% revenue from direct sales • Using IOT and AI for claim and sales
• 80% revenue through brokers support

Total Investors involved (24):

Goldman Sachs ; OMERS Ventures, Mubadala Ventures; Salesforce Ventures; Idinvest
Partners; Target Global; Sound Ventures; Seedcamp; H14 ;CreditEase Fintech Investment
Fund; Horizons Ventures, Cascade Investment Fund, MerianChrysalis,
G Squared, SeedCamp, Alma Mundi Ventures, Samsung Catalyst Fund, etc. 13
Thank you

Contact me
[email protected]

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