Sustainable Development Strategy for the Vietnamese Insurance Industry Under the Impact of Insurtech and Digital Transformation

In the context of rapid global digital transformation, InsurTech has emerged as a significant trend driving innovation in the insurance industry through the application of advanced technologies such as artificial intelligence, big data, and cloud computing. The development of InsurTech firms serves as a core driver of digital transformation in the insurance sector and has important implications for sustainable development in Vietnam. Based on a qualitative research approach that synthesizes and analyzes policy reports, market data, and relevant academic studies, the findings indicate that InsurTech not only enhances operational efficiency and optimizes costs but also fundamentally reshapes insurance business models toward greater digitalization, personalization, and inclusiveness. At the same time, the adoption of technologies such as AI and big data improves risk management capabilities in the context of increasing non-traditional risks. However, the development of InsurTech in Vietnam remains constrained by an incomplete regulatory framework, underdeveloped technological infrastructure, and a shortage of high-quality human resources. On this basis, the study proposes policy implications to promote the development of InsurTech in alignment with the sustainable growth of the insurance sector.