Cambodia’s Insurtech is fast evolving with start-up and traditional companies trying to disrupt in a country where Insurance potential is immense.
Insurance Objective for Cambodia
The regulator is actively stimulating the entire ecosystem to achieve an Insurance penetration of 5.5% by 2030.
A key player in the market
SAFETYNET Cambodia has proven its contribution to Health Insurance’s growth with the support of FORTE by constantly growing faster than the market, thanks to advanced IT capabilities, sharp underwriting expertise and top-notch operations services from distribution, customer service to claim settlement.
Insights at the Panel: “The Opportunity to Impact the Next Millions”
On 12th November, SAFETYNET Founder & CEO had the opportunity to share his views at the Cambodia Tech Expo in the panel discussion.
Main takeaways from SAFETYNET’s CEO
- Insurtech is not only about “Easier sales” but also to have a better “Service” such as collaborating with Medical providers for a great customer experience
- Cambodians pay about 60% of their health expenses from out-of-pocket which means a high potential of development for insurance companies in various form
- We are optimistic for Cambodia as the regulator is dynamic and open to try and learn whilst protecting policyholders and building TRUST
- However, medical inflation remains a concern with a growing supply of private medical providers and a mid-upper segment of the population new to insurance product usage
- It is important to control this inflation by educating business partners and customers so as to have a healthy-steady growth
Know more about SAFETYNET
If you want to financially protect your employees, family or yourself from unexpected medical cost, please contact us 023 23 57 57 or info@safetynet.sg
Watch the panel video from 1h31’56 to 2h29’10
