Igloo and Circle K team up for insurance offerings in stores

Plan prices range from VND30,000 to VND282,000.

Igloo, a regional insurance technology (insurtech) firm, has revealed its strategic partnership with Circle K, a global convenience store chain.

This collaboration aims to enhance the accessibility of insurance products in Southeast Asia.

The partnership will commence in Vietnam, where Circle K operates over 400 stores, and it will be the first instance of general insurance products ready to purchase in convenience stores in Asia.

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Igloo and Circle K have initiated the first phase of their partnership by launching Motor 24/7 Insurance in prominent cities such as Ho Chi Minh City and Hanoi. Vietnam has recently become the second-largest country in ASEAN in terms of motorcycle sales. 

Succeeding products to be offered will be pet insurance and personal accident insurance. Price starts at VND30,000 ($1.28) for one month and VND282,000 ($12) for 12-month coverage.

Customers can avail of the products by scanning a QR code which will be displayed on Circle K counters. This will lead them to an online portal and customers can begin their application process. Payments can also be made via convenience store counters.

A certificate of insurance will be provided.

(VND1 = $0.000043)