Virtual insurance company OneDegree Global’s insurtech arm, IXT, has formed a strategic partnership with Insurlog to provide embedded logistics insurance to businesses across Vietnam.
Insurlog is a Vietnam-based company that provides last-mile delivery insurance and services to e-commerce and logistics businesses.
The latest collaboration will allow Insurlog to utilise scalable technology solutions from IXT to offer its embedded logistics insurance products to local businesses.
These insurance products will provide coverage for various types of risks such as those related to damage, loss or delay of goods during transportation.
IXT’s scalable technology solutions will allow Insurlog’s customers to access faster claim processing and an enhanced customer experience.
This comprehensive and integrated solution will further help businesses in Vietnam in mitigating the potential risks along the supply chain.
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Insurlog CEO Hoang Tran said: “We are excited to partner with IXT to offer our customers embedded logistics insurance products.
“The IXT modern core solutions will enable us to scale our insurance business more rapidly and better cover the logistics insurance protection gap in the Vietnam market.”
Founded in January 2023, Insurlog specialises in offering delivery insurance and services to businesses from Vietnamese insurers including Vietinbank Insurance, PVI and Prudential.
Insurlog focuses on helping businesses to manage and protect their e-commerce orders.
Established in 2020, Singapore-based IXT has operations across the Asia-Pacific region.
IXT specialises in providing technology solutions to help insurers, brokers, managing general agents and e-commerce businesses to quickly launch various insurance products and improve their operational efficiency.
In June 2023, OneDegree closed its $55m (HK$428.67m) Series B funding round, which was joined by new and existing investors such as Gobi Partners, Sun Hung Kai and Bitrock.