Medici provides affordable insurance and healthcare service. With a network of 22,000 advisors and a comprehensive technology platform, it helps customers find the best plans, track claims, and manage all policies with ease.
Problem
- Low insurance penetration: In Vietnam, insurance penetration is only at 1.8%, compared to the SEA average of 3.5%. Bancassurance is currently mostly the distribution channel for insurance companies, despite its high initial costs and decreasing effectiveness.
- Limited healthcare access: With a population nearing 100M, 80% of Vietnam’s citizens live in tier 2 and tier 3 cities, where healthcare infrastructure and pharmacy coverage are lacking.
Solution
- Insurance through agents: Medici has developed an agent network to serve as one-stop contact point for insurance customers, handling everything from lead generation and sales to post-sales support. Medici provides a range of insurance products (both life & non-life), sales support through formal and peer training, a streamlined and partly automated sales process, and post-sales support.
- Online healthcare services: Medici partners with doctors to acquire users via digital media (Facebook and TikTok), and offers them telemedicine and consultation sessions. They also provide them health products tailored to their needs.
Media Links
Type
Healthcare
Focus Area
Deep Tech and Sustainability
Capital Raised (US$)
6M to 20M
Operational HQ
Vietnam
SECTOR
MedTech, Mobile Platform, and Online Platform
status
Current
founders
Duc Anh Ngo, Trang Nguyen
partnered
2022
exited
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