Vietnam's insurance has large room for growth: Hillridge exec
Australian insurtech startup Hillridge has marked its presence in Vietnam with a partnership with Bao Minh Insurance in providing a typhoon insurance package. Dale Schilling, CEO and founder of Hillridge, speaks to The Investor about the firm’s plans for the Vietnamese market and beyond.

Dale Schilling, CEO & founder of Hillridge. Photo courtesy of Hillridge.
Could you share about your choice of the Vietnamese market and partner for launching this product?
Vietnam was a natural choice as the first country for Hillridge to expand to from our home country of Australia. There are strong cultural ties between our two countries. The insurance regulatory regime in Vietnam is mature and attractive for foreign investors. And primary production (the agriculture, aquaculture and forestry sectors) is such a large part of Vietnam’s growing economy. Yet, the country is also very exposed to climate risks, and has a very low adoption of insurance to date.
Bao Minh is a great partner for Hillridge. It is one of the largest insurance companies in Vietnam and it has a great reputation. I have found them very easy to do business with, and they have a forward-thinking attitude to new products and new technologies.
What are your expectations of the Vietnamese market in the near future?
Now that we have launched the typhoon insurance product together with Bao Minh, we hope to work with forestry projects, tree crops (like cashews and pomelos) and aquaculture projects that are in typhoon-prone areas, particularly near the coast in central Vietnam.
Are there differences between the insurance package being offered with others in the market, particularly in terms of payment, compensation and time taken to pay compensation?
This is a key feature of parametric insurance: once the typhoon hits, payments are typically made within a few days of the event occurring. This helps people recover more quickly.
Compare that with traditional insurance, where a claim must be made, a damage assessor travels to the site and prepares a report, the insurer decides on the amount they will pay and notifies the payment amount, a negotiation might take place, and then a payment might be made – the process with traditional insurance can take months and involves a lot of uncertainty about whether a payout will happen at all.
Can you recount a relevant experience that Hillridge has had?
We have only just launched the project in Vietnam, so this typhoon season is the first when compensation might happen. One memorable case in Australia was a wheat farmer who took out rainfall insurance for his crop. Just before the harvest, the crop was severely damaged by heavy rain, and the crop could only be sold as cattle feed. This was a huge blow to his finances, but he was compensated within 30 days, and was able to plan for his next crop with confidence.
How have farmers in Vietnam reacted to the package being offered by Hillridge and Bao Minh?
So far the reaction has been positive. Forest growers, in particular, are looking for typhoon cover as they extend how long they are growing the trees so they can sell the wood for timber (which is much higher priced) rather than for chip-board or biomass.
Do you have plans to expand your presence in the region?
This year, we are looking to extend our presence across Vietnam and to expand into other ASEAN countries like Thailand, Indonesia and the Philippines.
What’s your overall assessment of Vietnam's insurance market?
Vietnam’s insurance market is still in its infant stages. There is a lot of room for growth, both in existing product lines, and in new products and concepts like parametric typhoon insurance. I also find it very innovative, with a strong emphasis on digitalization, which is a passion of mine.
- Read More
'Blockbuster' deals expected to boost Vietnam's stock market
Initial public offerings (IPOs), new listings, and bourse transfers are expected to become key drivers for the Vietnamese stock market in the coming time.
Finance - Sun, June 29, 2025 | 9:02 am GMT+7
Singapore-based Dale Investment acquires 73% stake in Vietnam’s Tam Tri hospital chain
Singapore-based investment fund Dale Investment Holdings has acquired a 73.15% stake in Vietnam’s private hospital chain Tam Tri Medical, according to a recent corporate registration update.
Companies - Sat, June 28, 2025 | 11:12 pm GMT+7
Volume of goods through seaports surges during US tariff pause
There's been a surge at Vietnamese container ports as businesses speed up deliveries during the 90-day pause on U.S. reciprocal tariffs.
Companies - Sat, June 28, 2025 | 10:52 pm GMT+7
Central Retail unveils $1.38 bln expansion plan for Thailand and Vietnam
Thailand's largest retailer Central Retail Corporation (CRC) will invest over THB45 billion ($1.38 billion) through 2027 to expand mainstream markets and accelerate growth in both Thailand and Vietnam, the retailer said in a release on June 24.
Companies - Sat, June 28, 2025 | 10:49 pm GMT+7
Dong Nai proposes development of $16 bln free trade zone
The southern province of Dong Nai has unveiled a plan to develop a $16 billion free trade zone to capitalize on the upcoming Long Thanh International Airport.
Companies - Sat, June 28, 2025 | 10:46 pm GMT+7
Thai Deputy PM to travel to US for trade talks next week
Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira on Friday said that he will travel to the U.S. for trade talks next week.
Southeast Asia - Sat, June 28, 2025 | 10:36 pm GMT+7
Indonesia sees steady rise in renewable energy capacity
Indonesia's renewable energy capacity is rising year-on-year, according to Pandu Patria Sjahrir, chief investment officer (CIO) at the Investment Management Agency Daya Anagata Nusantara (BPI Danantara) of Indonesia.
Southeast Asia - Sat, June 28, 2025 | 10:34 pm GMT+7
$2 bln high-end tourism-service project okayed in northern Vietnam economic zone
The Vietnamese government has given in-principle approval to a high-end integrated tourism-service complex in Van Don Economic Zone in the northern province of Quang Ninh.
Real Estate - Sat, June 28, 2025 | 10:27 pm GMT+7
Beverage giant Tan Hiep Phat-tied firm plans $153 mln to expand southern Vietnam plant
A company tied with Vietnamese beverage giant Tan Hiep Phat plans to invest VND4 trillion (153.3 million) to expand its beverage plant in the southern province of Hau Giang.
Investing - Sat, June 28, 2025 | 4:10 pm GMT+7
Masan Consumer announces 25% interim cash dividend
Masan Consumer, the consumer goods arm of Masan Group, has announced a plan to pay an interim dividend for 2025 at a rate of 25% (VND2,500 or $0.096 per share).
Companies - Sat, June 28, 2025 | 1:03 pm GMT+7
Vietnam’s credit growth exceeds 7% in H1
Total outstanding credit across Vietnam’s banking system had reached VND16,730 trillion ($656 billion) in the year to June 18, up 7.14% from end-2024, according to the State Bank of Vietnam (SBV).
Banking - Sat, June 28, 2025 | 12:52 pm GMT+7
Vietnam's property developer Phat Dat aims to nearly double share price
Phat Dat Real Estate Development Corp (HoSE: PDR), a major real estate developer in Ho Chi Minh City, expects its shares to climb to VND30,000 ($1.15) apiece by year-end, with its leadership voicing strong resolve to deliver on the target.
Real Estate - Sat, June 28, 2025 | 9:46 am GMT+7
Work on HCMC’s Ring Road 4 set to commence in 2025
The National Assembly, Vietnam's legislature, on Friday gave in-principle approval to the Ring Road 4 project in Ho Chi Minh City, with 99.09% of members in attendance voting in favor.
Investing - Sat, June 28, 2025 | 8:26 am GMT+7
Private firms eligible to invest in trans-Vietnam high-speed railway project
The National Assembly, Vietnam's legislature, has allowed private companies to invest in the North-South high-speed railway project.
Economy - Fri, June 27, 2025 | 9:16 pm GMT+7
Vietnam legislature requests legal framework for pilot crypto asset market
The parliament has requested prompt establishment of legal frameworks to pilot a crypto asset market in Vietnam, per a resolution adopted on Friday.
Investing - Fri, June 27, 2025 | 4:12 pm GMT+7
Vietnam parliament okays establishing one international financial center in HCMC-Danang
Vietnam will build one international financial center located in both Ho Chi Minh City and Danang, in which initiatives like digital assets and sandboxes will be tested under control, according to a newly-approved parliament resolution.
Economy - Fri, June 27, 2025 | 3:44 pm GMT+7