Comprehensive transportation and insurance solutions with guaranteed assurance for businesses

Vietnamese businesses often encounter many obstacles when accessing cargo insurance services.

For enterprises engaged in trade, the transportation of goods from one location to another can involve various risks, particularly for large shipments. Any incident, whether minor or major, such as damage or theft, can result in significant financial losses for businesses.

In such cases, cargo insurance plays a crucial role in providing effective protection. This insurance coverage ensures reasonable compensation in the event of any damage to goods during transportation.

Representatives from Tokio Marine Vietnam and NETCO Post during the signing process, marking a strategic cooperation milestone between the two parties. Photo courtesy of TMIV

Despite the recognized importance of cargo insurance, many businesses still face barriers when it comes to accessing and utilizing such insurance. These barriers include high costs, complex and cumbersome processes, as well as time-consuming procedures.

When applying for logistics service and cargo insurance during shipment, enterprises must often engage with multiple parties, ranging from freight forwarding companies to insurance companies. This not only complicates the process but also increases operational costs for businesses, ultimately reducing efficiency and effectiveness.

Leveraging their extensive experience in the insurance and transportation industries, Tokio Marine Vietnam and NETCO have joined forces to develop a strategic solution that supports businesses and clients in cost savings, process optimization, and comprehensiveness.

Board of Directors of Tokio Marine Vietnam and NETCO Post at the closing ceremony. Photo courtesy of TMIV

Tokio Marine Vietnam, one of the first foreign-invested non-life insurance joint ventures in Vietnam, has been operating for 27 years in the local market. The company serves and supports more than 2,000 B2B customers, with over half of them being Japanese companies investing in Vietnam.

Meanwhile, with a network of postal offices covering all provinces and cities nationwide, including nine main distribution centers, NETCO serves over 60,000 regular customers as well as more than 5,000 B2B customers, enterprises, and affiliated partners across the country.

The strategic collaboration has initially benefited businesses in optimizing operational time, handling incidents, and saving costs through the Unified Assurance Transport Service package.

The package guarantees the secure and timely delivery of goods and important documents, minimizing unwanted risks, including those associated with cross-border shipments. The comprehensive solution also helps businesses streamline their workflow.

The sharing came from representatives of both sides after the signing process. Photo courtesy of TMIV

Previously, customers had to independently liaise with and coordinate between various functional departments of transportation and insurance companies, from service registration to compensation support in case of losses.

However, by utilizing the Unified Assurance Transport Service solution, customers only need to work with a single point of contact, benefiting from an optimized processing procedure and faster turnaround time due to the close partnership between the two companies.

The alliance between these two prominent companies in the insurance and transportation sectors has also enabled businesses to optimize their operating costs by 20–30% through attractive combo offers of up to 30%, time savings in processing, and reductions in administrative fees and paperwork-related expenses.

The partnership not only helps businesses establish a strong reputation but also enhances their sales processes and increases revenue through financial security and guarantees.