Song An health insurance is the first non-life insurance product in the market approved by the Ministry of Finance to integrate with the national health insurance system. It is designed to cover medical expenses outside the scope of health insurance.

With premiums starting from 499,000 VND annually, the product offers a maximum protection limit of 2,1 billion VND. It covers up to 100% of treatment costs, 50% of medication expenses, and a protection list for 160 critical illnesses. Individuals can enroll online without a health check and manage their policies and benefits through the IVIE - Bac si oi application.

Leaders of Techcombank and Techcom Insurance at the launch ceremony for Song An health insurance on 15/7. Photo: Techcom Insurance

Techcom Insurance states that Song An is positioned as a solution for "complementary coverage – hospital fee peace of mind", serving as supplementary insurance to national health insurance. It focuses on reimbursing out-of-pocket expenses patients incur after national health insurance settlement, such as service bed fees, specialty drugs, and advanced treatment techniques, especially for critical illnesses.

The entire operational process is digitized within the Techcombank ecosystem. Customers can utilize direct billing services at public hospitals nationwide or submit claims online, with processing completed within two business days of the company receiving all valid documents.

Ms. Nguyen Lan Huong, representative of the Health Insurance Policy Implementation Board (Vietnam Social Security), stated that the product aligns with the direction of healthcare finance reform and the development of supplementary insurance products, as outlined in Politburo Resolution 72.

She noted that although national health insurance covers approximately 96% of the population, resources remain insufficient to meet all medical examination and treatment needs, particularly for high-tech services and critical illness treatments. Therefore, supplementary insurance products like Song An can serve as a financial support mechanism, alleviating the burden of co-payments for individuals accessing high-quality medical services or critical illness treatments.

Ms. Nguyen Lan Huong, representative of the Health Insurance Policy Implementation Board (Vietnam Social Security), speaks at the event. Photo: Techcom Insurance.

Speaking at the product launch event, Mr. Jens Lottner, Chief Executive Officer of Techcombank, remarked that the introduction of Song An health insurance represents a significant milestone in Techcom Insurance's long-term vision. He also highlighted it as a further step in developing the Techcombank ecosystem, aiming to provide customers with more comprehensive and integrated health and financial protection solutions.

"We expect Techcom Insurance to become a long-term health companion, enabling millions of Vietnamese people to proactively protect their health and families, thereby living healthy and worry-free," a Techcombank representative shared. They also affirmed continued investment in technology, data, and their partner ecosystem to realize the vision of building a new health protection model for Vietnamese people.

Mr. Jens Lottner, Chief Executive Officer of Techcombank, expects Techcom Insurance to become a long-term health companion for millions of Vietnamese people. Photo: Techcom Insurance

During the event, Techcom Insurance also signed cooperation agreements with four major hospitals: 19-8 Hospital (Ministry of Public Security), Hanoi Children's Hospital, Hanoi Obstetrics and Gynecology Hospital, and Viet Tiep Friendship Hospital (Hai Phong). These partnerships aim to expand the direct billing network, reduce hospital cost burdens, and improve the medical examination and treatment experience for the public.

Nguyen Quang Vinh, Chief Executive Officer of Techcom Insurance, signs strategic cooperation agreements with representatives of four major hospitals. Photo: Techcom Insurance

Mr. Pranav Seth, Chairman of the Board of Directors of Techcom Insurance, stated that the company will continue to innovate products and apply digital technology to develop health insurance solutions. This initiative aims to reduce healthcare cost burdens and expand insurance access for the public, thereby realizing the Government's strategic direction for a healthy Vietnam.

"Our vision is to become a leading digital health insurance enterprise, customer-centric. Leveraging the financial capacity, technology platform, and extensive network from the Techcombank ecosystem, Techcom Insurance is committed to empowering every Vietnamese person to confidently protect their health and control their lives," a Techcom Insurance representative emphasized.

Techcom Non-Life Insurance Joint Stock Company (Techcom Insurance) currently serves over 650,000 customers, providing a diverse ecosystem of more than 65 insurance products. It operates through a network of 280 branches and a team of 3,500 consultants nationwide.

Meanwhile, Techcombank is a large-scale enterprise in Vietnam, currently serving approximately 18 million individual and business customers through a diverse ecosystem of solutions across various sectors: banking, wealth management, insurance, and healthcare. The bank has received high credit ratings from international organizations: FiinRatings (AA-), Moody’s (Ba3), S&P (BB), and Fitch (BB-).

Minh Ngoc