Vietnam Insurtech Saladin Expands with Series A to Tap Digital Life Insurance

Vietnam-based insurtech startup Saladin has secured an undisclosed Series A funding round led by SBI Ven Capital, with participation from regional and global investors including NTUitive, Kyobo Securities, ICMG, Peak XV Partners, and Monk’s Hill Ventures. This capital infusion supports Saladin's expansion from non-life insurance products into traditionally consultative categories like term life and comprehensive health insurance, aiming to build a comprehensive digital insurance platform tailored to Vietnam's growing digitally savvy population. Saladin plans to enhance its life insurance offerings with both packaged and customizable online products, reflecting increased digital literacy and changing consumer demands in Vietnam. The company is advancing its operational capabilities by streamlining claims processing, customer support, and service delivery to support higher-trust insurance segments. The startup is integrating AI technologies to personalize insurance recommendations, optimize risk assessment, expedite claims handling, and improve customer service efficiency. Strategic partnerships with healthcare, life insurance, and travel companies will facilitate the development of specialized protection products and promote embedded B2B2C distribution models within partner ecosystems such as payment platforms and healthcare networks. Saladin maintains a hybrid distribution approach through its Saladin Pro network of over 15,000 agents, combining digital and traditional sales methods to effectively address trust considerations in Vietnam’s insurance market. Having partnered with 15 major insurers and served nearly one million unique customers, Saladin has demonstrated significant traction since inception. This funding round aligns with transformative regulatory changes in Vietnam’s insurance sector, including reforms affecting bancassurance that open opportunities for digital brokers and independent distributors. Key growth drivers include high internet and smartphone penetration, underdeveloped insurance markets relative to regional peers, legal modernization efforts, and rising consumer demand for health and life insurance products. Investors recognize Vietnam as an emerging insurtech hub in Southeast Asia, positioning companies like Saladin—leveraging technology and customer-centric design—to benefit from ongoing digitization and regulatory improvements. Saladin’s approach integrating AI, embedded insurance, and agent networks aims to accelerate the market’s transition to more transparent, convenient, and data-driven insurance services, likely shaping the industry’s evolution into 2026 and beyond.