14/07/2023 BIC aims to become a leading and reputable non-life insurance service provider in the Indochina region. The decision to partner with Goong marks a significant step forward in BIC’s development.
BIC and its strong development journey
The Joint Stock Company for Bank Investment and Development of Vietnam Insurance (BIC) was established in 2006 through BIDV’s acquisition of QBE International Insurance Group’s stake in the Vietnam Australia Insurance Joint Venture. According to statistics from the Vietnam Insurance Association, BIC is currently one of the top 10 non-life insurance companies in terms of market share and is among the top 3 non-life insurance companies with the highest profit margins in the market. BIC leads the market in developing Bancassurance and online insurance (E-business) channels. It is also the first insurance company with a comprehensive operational network in the Indochina market.
As one of the leading and reputable insurance companies in Vietnam, BIC has partnered with many major domestic and international corporations such as Vingroup, Vinpearl, Hoa Phat, and Mai Linh Group, offering a diverse range of insurance products including vehicle insurance, personal accident insurance, and health insurance. BIC has developed an application platform to manage all its activities, which includes the capability to manage locations, position mapping, and navigation. This platform provides extensive support for both its customers and internal staff.
The challenge at hand was to find a reliable and reputable digital map API provider to meet the extensive location management and search needs, while also ensuring reasonable costs and, most importantly, accurate and comprehensive map data for Vietnam’s territorial sovereignty. This is why BIC sought a domestic digital map platform provider instead of an international one.
Goong was able to meet nearly 98.9% of BIC’s criteria, including quality, efficiency, reasonable cost, and the availability of suitable map data for Vietnam, including comprehensive territorial and maritime sovereignty data. This led to Goong being chosen by BIC as the replacement for its previous map provider.
Learn more: https://goong.io/tin-tuc/tich-hop-goong-zalo-hoan-thien-kenh-ban-hang-truc-tuyen/
The transformation process of BIC and the long-term cooperation orientation with Goong
Sharing about the selection of the Goong digital map platform, Mr. Minh – the head of the technical department and also the primary person responsible for developing the BIC online application platform, stated: “From the early stages of building the app, I had a desire to find a provider of Vietnam’s digital map platform. However, it seemed to be a rather specialized field, and currently very few entities can meet BIC’s requirements. Therefore, we partnered with a foreign entity. Recently, for specific reasons, we were determined to find a ‘Made in Vietnam’ digital map platform.”
When asked about how Goong’s APIs are utilized on the BIC online platform, Mr. Minh further shared: “We developed an application to serve both users and company employees. Among the many features of the app, we needed a feature that could determine coordinates, locations, and provide directions, hence the need to integrate Maps API.”
“On this platform, we will mark all BIC locations, as well as the locations of partner banks, hospitals, and garages on the map within the app. When customers need to locate the nearest services offered by BIC’s partners, the app will suggest and provide directions for customers to get there quickly and conveniently. This is a feature we are implementing to serve BIC’s customers using the app.”
“Furthermore, in the case of locating the position of employees, it will be applied in certain situations such as when BIC’s customers encounter accidents… BIC’s appraisal officers will go to the site of the incident to take photographs for documentation. From those photographs, we need to obtain the coordinates of the shooting location for verification and management, and then complete the documentation in order to proceed with insurance payouts for the customers. In such on-site cases, Geocode will handle these issues for us.
I have found that Goong’s APIs are quite diverse and can meet all of BIC’s needs. I believe that seeking an alternative solution to the previous service was entirely appropriate, and in the near future, BIC is also determined to further explore all of Goong’s API services. Hopefully, we will have a long-term and cooperative partnership”.
Conclusion
With Goong, gaining trust and meeting the needs of all customers is a major success. As Goong strives to evolve and develop further, it will require much more support and collaboration from various entities like BIC.
In BIC’s line of work, Goong has also found a wide range of opportunities in different fields, shaping its products.
Thank you, BIC, for your trust and partnership!
Let’s continue together with Goong to create new stories about the journey in establishing a “made in Vietnam” digital map ecosystem here.
