BIDV Insurance

What BIDV Insurance does

BIDV Insurance (BIC), formally Tổng Công ty Cổ phần Bảo hiểm Ngân hàng Đầu tư và Phát triển Việt Nam BIDV, is a joint-stock insurance company headquartered in Hanoi and operating as the insurance arm of BIDV Bank, Vietnam's largest state-owned commercial bank. The company underwrites a broad portfolio spanning personal insurance (health, travel, motor, home, accident, cancer, cybersecurity), business insurance (property, liability, marine, aviation, engineering, cargo, workers' compensation), and a dedicated bancassurance product line (BIC Bình An, BIC Home Care, BIC Smart Care, BIC EliteCare) distributed through BIDV's nationwide branch network.

BIC operates a multi-channel distribution architecture anchored on bancassurance through BIDV branches, supplemented by direct digital channels including the mybic.vn online platform, the MYBIC mobile application (iOS and Android), and a 1900 9456 hotline. The company runs a service ecosystem comprising 100+ linked hospitals for cashless medical treatment, a nationwide network of authorized garages for motor claims, and a partnership with International IPA for global medical assistance and evacuation. Claims are handled via the BIC Online app with direct settlement at linked medical facilities.

Revenue is generated through insurance premiums collected across life, non-life, and bancassurance lines (recognized over the policy period) plus investment income on premium floats. Pricing varies materially by line: travel insurance starts from 250,000 VND, motor insurance follows regulatory fee schedules with promotional discounts, and bancassurance products are bundled with BIDV banking services. End-customers span individual consumers, corporate clients (property, liability, cargo, employee benefits), and BIDV's banking customer base, with the parent-bank channel acting as the principal acquisition and distribution mechanism.

Name

BIDV Insurance

Legal name

Tổng Công ty Cổ phần Bảo hiểm Ngân hàng Đầu tư và Phát triển Việt Nam

Website

https://bic.vn

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

BIDV Insurance (BIC) is the insurance subsidiary of BIDV Bank, Vietnam's largest state-owned commercial bank, underwriting personal, commercial, and bancassurance products distributed through BIDV's branch network and direct digital channels including MYBIC app and mybic.vn.

Ownership category

akta.pro rank

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: BIC generates revenue through collection of insurance premiums from policyholders across life, non-life, and bancassurance product lines. Premiums are collected upfront and recognized over the policy period.
2. Investment Income: Insurance companies typically invest collected premiums to generate investment returns, contributing to overall revenue

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

BIDV Insurance (BIC) is a Vietnamese insurance company that underwrites and distributes personal insurance (health, travel, motor, home, accident, cancer, cybersecurity), commercial insurance (property, liability, marine, aviation, cargo, engineering), and bancassurance products through BIDV bank branches nationwide. The company operates a digital distribution platform (mybic.vn, MYBIC app) and maintains a service network of 100+ linked hospitals and authorized garages for claims processing.

Product overview

BIDV Insurance (BIC) is a bank-owned insurance company (bancassurance) offering a comprehensive portfolio of personal and business insurance products. The company operates three main product lines: (1) Personal Insurance covering health, travel, motor vehicles, homes, and personal accidents; (2) Business Insurance covering property, liability, marine, aviation, and engineering risks; and (3) Bancassurance Products including BIC Bình An, BIC Bảo An, BIC Home Care, and specialized products distributed through BIDV bank channels. Key products include BIC Bình An (comprehensive personal accident and health), BIC Bình An Doanh Nghiệp (enterprise manager protection), BIC Home Care (home insurance), BIC Smart Care (premium health for BIDV customers), BIC Phúc Tâm An (cancer insurance), and BIC Tâm An (comprehensive health with dental and maternity options). The company also offers mandatory vehicle insurance (TNDS), travel insurance (domestic and international), motor physical damage insurance, property insurance, and specialized business covers for cargo, aviation, vessels, and construction projects.

Differentiator

Problem solved

Functional benefit

Brands

• BIC Bình An: Bảo hiểm tai nạn và sức khỏe con người toàn diện
• BIC Bảo An Doanh Nghiệp
• BIC Home Care
• BIC Smart Care
• BIC Tâm An
• BIC Phúc Tâm An
• BIC An Hưng
• BIC EliteCare
• BIDV BIC Card Shield
• MYBIC

Products and services

• Comprehensive Health Insurance (Bảo hiểm sức khoẻ toàn diện) Comprehensive health insurance covering medical expenses, hospitalization, and dental care for individual and family customers.
• Comprehensive Home Insurance (Bảo hiểm toàn diện nhà tư nhân)
• Personal Accident Insurance 24/7 (Bảo hiểm tai nạn 24/7) 24/7 personal accident insurance providing coverage for death, permanent disability, and medical expenses from accidents, with multiple tier options.
• Mandatory Motor Third-Party Liability Insurance (Bảo hiểm TNDS xe máy / xe ô tô) Mandatory third-party liability insurance for motorcycle and car owners as required by Vietnamese law, covering bodily injury and property damage to third parties.
• Travel Insurance (Domestic and International) Travel insurance covering medical emergencies, trip cancellation, baggage loss, and travel assistance for domestic and international travel, with international plans including 24/7 global medical assistance and emergency evacuation via International IPA.
• Cancer Insurance (BIC Phúc Tâm An) Cancer insurance providing lump sum payments upon diagnosis and coverage for hospitalization and death benefits due to cancer.
• Cybersecurity Insurance (Bảo hiểm an ninh mạng) Personal cybersecurity insurance covering online shopping fraud, money transfer fraud, and identity theft.
• Aviation Insurance (Bảo hiểm hàng không) Aviation insurance covering aircraft body damage, war risks, third-party liability, and crew accidents for airlines and aircraft operators.
• Construction and Installation All-Risk Insurance (Bảo hiểm mọi rủi ro trong xây dựng - lắp đặt) Contractors' all-risk insurance covering construction and installation projects from commencement through handover.
• Property Insurance (Bảo hiểm tài sản) Commercial property insurance covering fire, explosion, natural disasters, and other property risks for businesses, including mandatory fire and explosion insurance.
• Business Interruption Insurance (Bảo hiểm gián đoạn kinh doanh) Business interruption insurance compensating businesses for lost profits and fixed costs resulting from covered property damage.
• Commercial Liability Insurance (Bảo hiểm trách nhiệm) Commercial liability insurance including employer liability, freight forwarding liability, carrier liability, public liability, and product liability coverage for businesses.
• Marine Hull and Vessel Insurance (Bảo hiểm thân tàu) Marine hull insurance covering physical damage to sea-going and inland waterway vessels, with crew accident insurance and shipbuilders' coverage.
• Cargo Insurance (Domestic and Import-Export) Cargo insurance covering goods transported domestically within Vietnam and import-export shipments worldwide under London Institute Cargo Clauses (ICC 2009).
• Workers' Compensation Insurance (Bảo hiểm bồi thường cho người lao động) Workers' compensation insurance covering employer liability for work-related injuries and occupational diseases.
• BIC Home Care (Bancassurance) Comprehensive home insurance product designed for credit institution customers, covering physical damage to houses and contents with optional fire insurance.
• BIC Bảo An Doanh Nghiệp (Bancassurance) Accident and premium health insurance for business managers, covering death, permanent disability, and medical expenses, distributed through credit institution channels.
• BIC Bình An Family Accident and Health Insurance (Bancassurance) Comprehensive personal accident and health insurance for individual customers and their families, offered through credit institutions, with optional health rider covering hospitalization, outpatient, dental, and maternity benefits.
• BIC Smart Care (Bancassurance Premium Health) Premium health insurance for individual BIDV bank customers, covering death, disability, hospitalization, and outpatient treatment.
• BIC EliteCare (Premium Health Insurance) Premium health insurance product for comprehensive protection and peace of mind, targeted at high-value customers.
• BIC An Hưng (Corporate Employee Health Insurance) Group health insurance for enterprise employees and their families, covering hospitalization due to illness and maternity.
• BIC Tâm An (Comprehensive Personal Health) Comprehensive personal health insurance combining accident and health coverage with optional dental and maternity benefits.
• Burglary and Robbery Insurance (Bảo hiểm trộm cướp) Personal burglary and robbery insurance covering theft with violence and resulting property damage to homes.
• Student Comprehensive Insurance (Bảo hiểm toàn diện học sinh sinh viên) Comprehensive insurance for students from kindergarten through university, covering death, injury, surgery, and hospitalization.

Quantifiable outcome

• Extensive nationwide service network through BIDV branches

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• BIDV (Bank for Investment and Development of Vietnam)coreChannel Partner/ Reseller/ DistributorBIC is the insurance subsidiary of BIDV, Vietnam's largest state-owned commercial bank. Insurance products are distributed through BIDV's nationwide branch network under a bancassurance partnership model. BIC provides insurance products to BIDV's customer base.
• International IPAcoreOthersInternational IPA provides 24/7 global medical assistance and emergency evacuation services for BIC's international travel insurance products.
• Linked Medical Facilities NetworkcoreOthersNetwork of over 100 hospitals and clinics across Vietnam providing cashless treatment services for BIC health insurance policyholders.
• Linked Garage NetworkminorOthersNetwork of authorized garages for motor vehicle inspection and repair services under BIC motor insurance policies.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bao Viet Holdings: Vietnam's largest state-owned insurance group offering life, non-life, and bancassurance products across the same product categories as BIC, with similar nationwide distribution and state backing. Most direct comparable in scale and product mix.
• Manulife Vietnam: Foreign-invested life and health insurer operating through a bancassurance model (notably with VietCombank and other banks). Directly comparable to BIC's bancassurance-led distribution and health/life product strategy.
• PTI (Post and Telecommunication Insurance): Vietnamese insurer with strong distribution through VNPost and VNPT networks, offering similar personal and commercial lines to BIC. Comparable bancassurance-style alternative-distribution model.
• PJICO (Petrolimex Joint Stock Insurance Company): Vietnamese insurer with significant motor and commercial lines, distributed through Petrolimex's fuel station and business network. Closely comparable in personal motor TNDS, voluntary motor, and property offerings.
• Prudential Vietnam: International life insurer with a bancassurance partnership model in Vietnam and broad personal accident/health offerings. Competes with BIC's bancassurance products in the same customer base.
• PVI Insurance: Major Vietnamese non-life insurer with a strong portfolio in property, energy, marine, and aviation insurance. Competes head-to-head with BIC in commercial P&C lines and corporate risk segments.
• AIA Vietnam: Pan-Asian life and health insurer with bancassurance and agency distribution in Vietnam. Competes directly with BIC in personal health, accident, and bancassurance-linked protection products.
• VBI Insurance (VietinBank Insurance): Insurance subsidiary of VietinBank, another major Vietnamese state-owned bank, operating a near-identical bank-owned insurance / bancassurance model. Closest structural comparable to BIC outside the BIDV group.
• Bảo Minh Holdings: Mid-tier Vietnamese non-life insurer offering motor, property, marine, and liability coverages. Directly comparable to BIC in commercial P&C product portfolio and target customer segments.

Emerging players

• FWD Vietnam: Digital-first life and health insurer in Vietnam with strong InsurTech positioning. Represents the emerging competitive threat BIC's MYBIC digital platform is built to counter.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bidv-insurance-corp

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BIDV Insurance