On 27 October, the Insurance Association of Vietnam held a signing ceremony with technology partners to introduce the no-claims discount (NCD) system, clarifying its intention to promote the sharing of voluntary motor insurance data.
The Insurance Association of Vietnam, working with its technology partner Fermion Merimen and with the participation of non-life insurers, held a signing ceremony to introduce the NCD system. This is positioned as the first step towards building a platform for sharing voluntary motor insurance data.
10 companies are currently ready to connect to the NCD system, indicating the need to cross-check contract histories. The NCD system is designed to collect, standardise and share vehicle-specific claims data. Searches can be conducted using a licence plate number, vehicle identification number or engine number, and the system includes a function to display the 3 most recent contracts.
Data confidentiality is maintained. Original data cannot be viewed, and only aggregated results are provided. The association has applied access controls and audit logs to ensure data security and transparency.
Merimen explained that it places priority on data security and data ownership and will use a Vietnam-based data centre to provide local connectivity and operational support. It reaffirmed its commitment to the long-term operation of a national data centre.
Motor insurance premiums in the first half of 2026 were reported at approximately VND16.29 trillion, with claims paid of approximately VND8.172 trillion and a claims payout ratio of 50.2%. Premiums from voluntary motor insurance alone were approximately VND11.883 trillion, with claims paid of approximately VND7.315 trillion and a payout ratio of 61.6%.