ceo, master solution
He has an experience for more than 10 years as a director of insurance brokers at Khanbank, and State Bank, the largest banks in Mongolia.
Mr. Naranbat contacted him online during the Covid lockdown in 2020 and shared his idea of an insurance service where all services can be obtained in one place.
Lkhagvatseren welcomed the above idea, and as a result of more than 2 months of communication and exchange of ideas, he resigned his work from Khanbank. Thus he join the team of Mr. Naranbat and Mr. Tsolmon.
Together, they bought the rights of “Master Solutions” company with a special insurance license, completed the development of the preparatory work within 6 months, and opened their first service, Hi-Insurance app, leading comprehensive payment platform in Mongolia.
High Payment Solutions” LLC is a company that has received four major approvals from the Bank of Mongolia. Specifically, in 2018-2019, a data center connected to the Bank of Mongolia via fiber optic cable was established. On October 24, 2019, it received the “Card Acceptor” special license from the Bank of Mongolia, making it the only fintech company with this special license in addition to commercial banks. Also, in 2020, it was connected to the automatic clearing house system for low-value payments. In 2021, the Bank of Mongolia received a special license to issue electronic money. It became the only fintech company connected to the Bank of Mongolia via fiber optic cable.
“High Payment Solutions” LLC has undergone an offsite and onsite audit by “ROCK PTE” LTD located in Singapore, and has the advantage of meeting PCI DSS 3.2.1 or payment information security standards with 6 groups, 12 main principles, and more than 200 sub-requirements.
He has an experience for more than 10 years as a director of insurance brokers at Khanbank, and State Bank, the largest banks in Mongolia.
Mr. Naranbat contacted him online during the Covid lockdown in 2020 and shared his idea of an insurance service where all services can be obtained in one place.
Lkhagvatseren welcomed the above idea, and as a result of more than 2 months of communication and exchange of ideas, he resigned his work from Khanbank. Thus he join the team of Mr. Naranbat and Mr. Tsolmon.
Together, they bought the rights of “Master Solutions” company with a special insurance license, completed the development of the preparatory work within 6 months, and opened their first service, Hi-Insurance app, leading comprehensive payment platform in Mongolia.
They have cooperated with well-known insurance companies operating in Mongolia and provided customers with the opportunity to pay in installments and pay with credit.
Since 2014, the Hi-Daatgal platform has been developed for the online brokarage service of insurance contracts through the HiPay app, enabling users and customers to quickly obtain all types of insurance services. As of now through the app, customers receive and insure the services of 14 insurance companies on credit and installment terms, which has become an innovative service in the industry. For example, the most popular insurance services such as driver’s liability insurance, vehicle insurance, housing insurance, student accident insurance, foreign passenger accident insurance, citizens’ accident insurance, jockey children’s accident insurance, etc. can be quickly obtained via mobile phone.
