Techcom Insurance launches Song An health insurance, pioneering supplementary health insurance

Hanoi, July 15 - Techcom Non-Life Insurance Joint Stock Company (Techcom Insurance), a member of the Techcombank ecosystem, has just launched Song An Health Insurance product - the first health insurance solution in the non-life insurance market designed to connect with the Health Insurance (HI) system, to support payment of costs outside the HI payment scope.

With the main message: "Accompanying health insurance, reducing the burden of medical costs for Vietnamese people", the product is expected to create a new standard for comprehensive financial security solutions for Vietnamese people.

Assessing at the launching ceremony, Ms. Nguyen Lan Huong, representative of the Health Insurance Policy Implementation Board (Vietnam Social Security), said that Song An Health Insurance is in line with the orientation of Resolution 72 of the Politburo on health financial reform and development of supplementary insurance products.

According to Ms. Huong, HI currently covers about 96% of the population but still cannot fully meet the needs of medical examination and treatment. The appearance of supplementary insurance products such as Song An will contribute to supporting people to pay for co-payment and high-quality medical services or treatment of critical illnesses, thereby supplementing resources for the healthcare system.

Unlike traditional health insurance packages, Song An focuses on paying expenses that health insurance has not paid within the scope of benefits after health insurance settlement. Benefits include service bed costs, brand-name drugs, advanced medical techniques and some costs incurred in treatment, especially for critical illnesses.

With a fee from 499,000 VND/year, the product has a total maximum protection limit of 2.1 billion VND, supporting up to 100% of examination and treatment costs within the scope of benefits, 50% of drug and protection costs for 160 critical illnesses.

Participants can register online without health check-ups, and manage contracts and benefits on the IVIE - Doctors! application. According to businesses, customers can use hospital fee guarantees at public hospitals nationwide or send online compensation dossiers with a processing time of about 2 working days after receiving complete valid dossiers.

Speaking at the event, Mr. Jens Lottner, General Director of Techcombank, said that the launch of Song An is the next step in Techcombank's strategy to build a financial - insurance - healthcare ecosystem.

According to him, Techcombank aims to provide integrated and personalized solutions to help customers proactively protect their health and finances. The bank will continue to invest in technology, data and partner ecosystems to develop new health protection models for Vietnamese people.

Mr. Pranav Seth, Chairman of the Board of Directors of Techcom Insurance, said that the company is oriented to develop health insurance solutions applying technology, putting customers at the center, contributing to reducing the burden of medical costs and expanding access to healthcare services.

According to Techcom Insurance, the business is the first unit approved by the Ministry of Finance to deploy connection with the public health insurance system. With Techcombank's technology platform and ecosystem, the business aims to develop digital insurance solutions, improve customer experience and support people to proactively protect their health.

Song An Health Insurance is expected to contribute to reducing the burden of medical costs, supplementing resources for the social security system in the spirit of Resolution 72 of the Politburo. The enterprise also said that the launch of the product marks a step in the development of digital technology application in the insurance sector, and affirms its commitment to accompanying people and the Government in improving the quality of health protection.

At the event, Techcom Insurance also signed a strategic cooperation agreement with Hospital 19-8 (Ministry of Public Security), Hanoi Children's Hospital, Hanoi Obstetrics and Gynecology Hospital and Viet Tiep Friendship Hospital (Hai Phong) to build a connecting ecosystem between insurance and medical examination and treatment facilities. According to the business, this cooperation will contribute to improving service quality, optimizing operating procedures and reducing the burden of hospital fees for people.