Global Care announces strategic shareholders and launches insurance comparison platform

At a ceremony held on October 9 in Ho Chi Minh City,  Global Care announced that Poni Insurtech has become its strategic shareholder, acquiring a significant stake in Global Care.

Concurrently, the company also launched a health insurance comparison platform, likened to an “insurance supermarket” for customers.

Global Care is a leading Insurtech company in Vietnam. Through its multi-platform digital ecosystem, Global Care connects insurers, corporate partners, and collaborators with customers. The  company is currently cooperating with most leading insurance companies to provide customers with digital insurance products that meet their needs quickly, conveniently, and transparently. Currently, the enterprise owns sales platforms with a large number of users, with more than 1.5 million policies issued per month, on average. In 2023, Global Care facilitated 13.5 million policies on its platform with revenue more than quadrupling year-over-year.

 Poni Insurtech is an Insurtech platform headquartered in Singapore.  By leveraging AI, data analytics, and digital capabilities, Poni Insurtech empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, customer engagement, marketing, risk management, and claims service.

The resonance of technological strength and abundant potential between the two companies promises exciting developments. The strategic shareholder's support in terms of financial capacity, experience, and international management standards will empower Global Care to continue creating new values ​​for customers and partners.

"The acquisition marks a significant milestone for Global Care. Poni Insurtech becoming a major shareholder will give us a unique and significant edge in this exciting market. Being empowered with technology, financial capabilities, network in industry and extensive experience will help us enhance service quality as well as expand our reach. Most importantly, the two companies share a common mission and vision, and together we are poised to create strategic value for our partners, customers, stakeholders and further accelerate the digitalization of Vietnam’s insurance industry. In particular, we also greatly appreciate the companionship that investor VinaCapital Venture has given to Global Care during the past time, as well as connecting and opening up opportunities for Global Care to cooperate with Poni Insurtech,” CEO of Global Care, Mrs. Dinh Thi Ngoc Niem shared.

The acquisition marks the first step in the global expansion of Poni Insurtech starting with ASEAN, reflecting their confidence in the long-term growth potential of the Vietnamese insurance technology market.

Mr. Ron Tam, CEO of Poni Insurtech, meanwhile,  expressed enthusiasm about entering Vietnam through this investment. "We are delighted to be entering Vietnam via a strategic investment in Global Care with founder Niem and her experienced team firmly establishing the company as a trailblazer in the delivery of innovative digital insurance solutions for the Vietnamese insurance industry. This acquisition is expected to generate significant synergies that will drive market share growth for Global Care by accelerating new product development through leveraging Huize’s technology stack and AI solutions, as well as existing partnerships with leading global insurance brands,” he said.

Currently, Global Care and Poni Insurtech are actively developing innovative digital insurance products and technology platforms to meet the diverse needs of customers  promptly.

At the event, Global Care also launched the Insurance Comparison Platform - GlobalCare.vn. This technology platform allows customers to choose suitable insurance products quickly and helps insurance companies digitize their products without a technology team. More importantly, it aims to help the insurance industry create additional useful products that meet future user needs.

By simply accessing the website https://globalcare.vn, customers can easily, intuitively and quickly search for and customize an insurance package  that suits their protection needs and financial capabilities.

For insurers, simply logging into the platform allows them to digitize their products as easily as drafting a Word document. This model also focuses on enhancing the customer experience throughout the digital insurance journey by integrating AI technology for online claim analysis and approval, supporting quick and accurate claim approvals.

This platform not only offers benefits to customers but is also a practical tool for insurance agents in the market. Through it, insurance agents or Global Care collaborators can easily find suitable insurance packages for customers and earn attractive income.

In the digital era, bringing insurance products to “e-commerce platforms” is no longer new, but a dedicated channel for insurance that allows customers to visually compare insurance products like Global Care can be said to be unique.

About Global Care Consulting Joint Stock Company

Established in 2017, Global Care Consulting Joint Stock Company (“Global Care”) is a leading Insurtech company in Vietnam. The company pioneers in providing digital transformation platform solutions in the insurance industry in Vietnam. By leveraging technology, Global Care contributes to promoting the digital technology revolution and changing the traditional insurance industry.

Through a multi-platform digital ecosystem, Global Care connects insurers, business partners, and collaborators with customers. Global Care has teamed up with numerous leading insurers in Vietnam such as Bao Viet, Bao Minh, MIC, PTI, PVI, VNI… and strategic partners across various sectors like The Gioi Dong, Grab, ePass, and Ahamove…

With the slogan “Best price, best service,” Global Care aims to use technology to spread insurance to millions of Vietnamese. Currently, the enterprise owns sales platforms with a large number of users, with more than 1.5 million policies issued per month, on average. Global Care won many awards for its contributions in the Insurtech field to enhancing user experience through technology applications.

For more information, please visit: https://globalcare.com.vn/ & https://globalcare.vn/

About Poni Insurtech

Poni Insurtech PTE. LTD (Poni Insurtech) is the international brand of Huize (NASDAQ: HUIZ), Asia’s leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions. Headquartered in Singapore, Poni Insurtech is committed to building a pan-Asian digital insurance distribution platform. Featuring a presence in regional hubs including Singapore and Hong Kong (China), Poni Insurtech has made its debut in Vietnam in 2024, with plans to expand into other high-growth ASEAN markets such as Indonesia and the Philippines.

Through its consumer facing apps and cloud-based API solutions, Poni Insurtech provides consumers with simple, affordable, and customized insurance solutions, empowers insurers with quick and hassle-free digitalization solutions to efficiently reach mass affluent consumers, and creates new revenue opportunities for partnering e-commerce platforms, merchants, and independent collaborators and agents.

Poni Insurtech aims to reshape the insurance landscape by driving greater efficiency, accessibility, and value across the entire ecosystem.