VIFO is a Software-as-a-Service (SaaS) platform developed to serve the entire value chain of the insurance industry — from insurance companies, agents, and product developers to end customers. Originating from the common reality that traditional insurance products often take weeks or even months to deploy, the founding team of VIFO set out to build a technological system capable of reducing this entire process to just one day. By focusing on rapid deployment capabilities, VIFO‘s platform enables insurance companies to launch new products within 24 hours, creating an almost instant experience for end users.
This idea stemmed not only from market demand but also from the founding team’s firsthand experience in the insurance industry, where complex internal processes, fragmented technological systems, and the lack of real-time data often hinder product optimization. The research and development journey of VIFO spanned several years, during which the team built a flexible infrastructure architecture utilizing open APIs, microservices, cloud-native integration, and multi-platform support (web and mobile). The core modules include insurance policy management, real-time product distribution, agent and customer data management, as well as payment and authentication gateways.
A standout feature of VIFO is its ability to handle microinsurance products priced as low as VND 2,000 per month, targeting customer groups previously underserved by traditional insurance offerings. This flexibility makes the platform suitable for a wide range of segments — from life and health insurance to non-traditional products such as goods insurance or occupational risk coverage for freelancers. During the product development phase, VIFO continuously tested its product with various customer groups to fine-tune its interface, levels of automation, and APIs connecting with insurance partners, payment systems, and customer service platforms.
VIFO holds a significant advantage in enabling insurance partners to quickly design and customize products, test, and launch them without needing to interfere with their existing core infrastructure. This is a key differentiator, especially in the context of Vietnam’s insurance enterprises, which are often constrained by inflexible and cumbersome legacy systems.
VIFO was selected among the Top 10 of TECHFEST Vietnam 2022, standing out among nearly 500 participating projects. In the same year, the startup was also one of the few Vietnamese representatives chosen to join the Accelerating Asia international accelerator program in Singapore — a platform where pre-Series A startups receive intensive training to scale regionally and connect with global investors.
The biggest lesson the VIFO team has shared is the importance of persistently creating a true alignment between technology and market needs. This process requires close, sustained collaboration with traditional insurance companies, repeated testing using real-world data, and constant feedback from actual users. Moreover, maintaining a fast pace of development while ensuring compliance with industry regulations presents a considerable challenge — one that has led VIFO to make serious investments in data security, technology audits, and standardizing operational procedures.
