Segmenting Vietnam’s life insurance market

Segmenting Vietnam life insurance market 2018 report provides us unique insights into current behavior and attitudes across life insurance customers. The study helps life insurers to create products based on consumer needs across different segments and to sharpen their products; services and communication strategies.

The life insurance industry is transforming as customer expectations, demographics, and financial priorities evolve. Cimigo identifies six consumer segments with distinct needs, communication preferences, and brand perceptions. To succeed, life insurers must align their marketing and product strategies with these nuances.

This report analyses each segment’s size, touchpoints, marketing strategies, customer experience preferences, and how insurers perform, focusing on brand strengths and weaknesses.

The analysis is based on a Cimigo study of 1,800 consumers across thirteen cities in Vietnam: HCMC, Bien Hoa, Phan Thiet, Can Tho, Rach Gia, Ca Mau, Da Nang, Nha Trang, Buon Me Thuot, Vinh, Ha Noi, Hai Duong and Ha Long.  The sample is representative of the city size and demographics of decision-makers regarding household finance and purchasing a life insurance policy. All participants were female and male, aged 23 to 65, with a monthly household income above VND 9,000,000.

Cimigo underscores the importance of a segmented approach to life insurance marketing. Understanding each group’s distinct needs, touchpoints, and customer experience preferences enables insurers to craft targeted strategies that build trust and loyalty.  As the industry evolves, insurers must invest in digital transformation, enhance agent training, and create tailored products that resonate with each segment. Brands prioritising customer empathy and responsiveness will stand out in an increasingly competitive landscape.

Vietnam life insurance market highlights

The Segmenting Vietnam life insurance market report offers comprehensive insights into the life insurance market.

Optimising business structure

  • Creating products based on consumer needs.
  • Segmenting the market.

Retaining current users

  • Understanding customer satisfaction.
  • Discover ways to inspire loyalty, reduce churn.

Generating demand amongst non-users

  • Understanding consumer needs, motivations, barriers.
  • Best approaches to potential customers.

This Cimigo report is available to purchase for VND 88,000,000.

The report will be delivered after 3 working days since the contract and payment are received.

For any additional requests, please email us at ask@cimigo.com

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88,000,000 VND
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