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Vietnamese online retailer Tiki adds insurance in fintech push

Local startup aims to gain ground on rivals Shopee and Lazada

HO CHI MINH CITY -- Vietnam's Tiki will add AIA insurance to its e-commerce site's offerings, marking a further push into financial services aimed at grabbing market share from bigger rivals Shopee and Lazada.

Vietnamese customers will be able to buy health and life insurance first, part of a long-term strategy to meet more of online shoppers' "financial needs," a Tiki representative told Nikkei Asia on Tuesday. The startup said it will personalize services for individual customers, such as recommending particular insurance packages, and will expand into other financial products like savings plans.

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