40 Insurance Companies (Cambodia)

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As of 2023, there are forty insurers and also other insurance operators (such as brokers, agents…) registered to the Cambodian authorities (Insurance Regulator of Cambodia). We can count: 18 general insurers 15 life insurers 7 micro insurers and 1 reinsurer (Cambodia Re) Aside from the Regulator, there is also highly active Associations such as “Insurance Association […]

Private Medical Insurance (Cambodia)

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What is it? It is a contract between you and a private health insurance provider. In Cambodia, there are international players but also local players (with often much more competitive plans). Under this arrangement, the insurer agrees to cover some or all of your medical expenses in exchange for your payment of a yearly premium […]

Cambodia’s Health Medical Insurance

Cambodia Medical Insurance Overview 2016 Till 2023

A snapshot of the gross premiums in Health Insurance (General Insurance) in Cambodia from 2016 to 2023 reveals continuous strong double-digit growth (data from IRC and IAC). It almost tripled in value during that period to reach more than $31 Mio. Unfortunately, the aftermath of the COVID-19 pandemic, along with recent complexities in the environment, […]

Players in the Health Insurance Industry

Insurance In The Shield Protect, Life Insurance Concept

The ecosystem of the industry can sometime be a bit confusing. This list provides a non-exhaustive description of the main players in this complex industry. 1. Regulatory Body (the one who set the frameworks) Regulatory authorities oversee the insurance industry. They enforce rules, protect consumers, and maintain stability such as the -Insurance regulator of Cambodia […]

Do you want to buy Health Insurance in Cambodia ?

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Individual (1 person) or a Family?Family health insurance products are often more attractive than for a single person.Premiums are correlated to age and many Insurance plans do not accept more than 65 years old.Think about adding the elderly which you may have to take care of, before it is too late.If you are looking for […]

Why is SAFETYNET different from other Health Insurance players in Cambodia?

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There are numerous Health Insurance companies and international brands distributed in Cambodia. However, we are proud to be the only “Health Insurance Specialist” in The Kingdom. Health Insurance is not like any other Insurance types…Health Insurance is very special, you need a pure “Health Insurance Specialist” to offer you the right price for the best […]

DIFFERENCE BETWEEN CAR & ACCIDENT INSURANCE?

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In exchange for a premium (annual fee), the insurer will pay for expenses; the coverage can be more or less comprehensive but here are some basics of the differences. Accident Insurance Personal Accident insurance (often already included in Health Insurance plans, such as for SAFETYNET) is an annual policy which provides compensation in the event […]

Cambodia HR medical claims

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SAFETYNET online capabilities allow HR department to easily submit claims online. We hear that some firms/ institutions prefer their employees to claim directly the Health expenses while others delegate it to the HR/ Administration departments, or a right to choose. Our constant goal is to build a solid system which also assure full confidentiality thanks […]

Cambodian companies select SAFETYNET

SAFETYNET Insurance Services (Cambodia), Co. Ltd. remains in 2022, the undisputed leader in Health Insurance plans for Companies, Families and Individuals in the Kingdom. Setting up a successful and sustainable Health Insurance in Cambodia required more than having the right products: 1- International Expertise from the Management team Our Management team is composed of highly […]

Corporate Employee Benefits in Cambodia

In year-end, Cambodian Leadership teams have to go through the bid for employee benefits, especially Health Insurance plans. You will find below some important points to consider. COST IS THE MAIN DRIVER? The annual budget for group Health insurance is often determined upfront and not negotiable. However, it is good to keep yourself some margin […]

Insights about Insurtech in Cambodia

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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 […]

Medical Insurance in Cambodia Q1-Q3 2022

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Cambodia’s Medical/ Health Insurance statistics were just released for the 3rd quarter 2022 by the Insurance Regulator of Cambodia. Cambodians’ Health insurance value in Gross premium reached $8.3 millions for a growth of 19.8% in Q3. Market Q1-Q3 2022: $24.8 mln Looking at a bigger picture, for Q1 to Q3 2022, the growth is at […]

HISTORY OF INSURANCE IN CAMBODIA

Insurance History In Cambodia (1)

The genesis of Insurance  Cambodia’s insurance was institutionalized from 1956 but the Khmer Rouge regime put an end to its flourishment from 1975. After the country recovered from its ashes, in 1990-2000, the government introduced the first Laws of Insurance with state-owned insurance company CAMINCO, and also a reinsurance company CAMBODIA-RE in 2002.  Modernization of […]

Renewal Health Insurance

Renew Your Health Insurance Every Year

Health Insurance are annual contracts which means you can terminate or renew your Health Insurance plan. In Cambodia, SAFETYNET noted that many -Individual plans- in 2021 were not being renewed with naive arguments such as “I did not use my Health Insurance so I realized I do not need one, I am sorry I will […]

Medical inflation in Cambodia

Medical Inflation In Cambodia

In the recently released 2023 Global Medical Trends Survey Report published by Willis Towers Watson (WTW), WTW found that medical costs rose 8.2% in 2021 and 8.8% in 2022, and projected to remain at 10% globally and 10.2% for Asia Pacific for 2023. http://Source​ Link What drives medical inflation? Some common causes of medical inflation […]

Honesty is the best policy

Honesty Is Best With Your Insurance In Cambodia

Everyone is tempted to give part of the truth in some cases in life…Because the full truth does not always look good or may disadvantage you in some ways. For Insurance, you should not play with honesty. The consequences can be high. Let’s explain to you why. If there is one virtue that insurance thrives […]

Health Insurance Specialist in the Kingdom ?

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There are numerous Health Insurance companies and international brands distributed in Cambodia. However, we are proud to be the only “Health Insurance Specialist”. We think Health Insurance is not like any other Insurance types…We think Health Insurance is special, you need a pure “Health Insurance Specialist” to: Design the right Health Insurance plans that fit […]

No Health Insurance in Cambodia?

Why Health Insurance? The objective of a Health Insurance is to cover your unexpected medical expenses, it will bring down out of pocket expenses. Without Health Insurance. If you have no Health Insurance, you are taking the risk that it can wipe out your current savings and even fall into debts…It is estimated that millions […]

Cambodia’s Medical Insurance

Cambodia Medical Insurance H1 2022

Cambodia’s Medical/ Health Insurance statistics were just released for the 2nd quarter 2022. Cambodians’ Health insurance value in Gross premium reached $5.0 millions for a growth of 6.4% in Q2. First Half 2022: $16.4 mln Looking at a bigger picture, for the 1st half 2022, we note a similar growth at 6.5%. Health Insurance Cambodians […]

Insurance Pre-existing Conditions

Insurance Cambodia 2022

Mentioning the word ‘Insurance’ to some Cambodians is often a synonym of ‘cheating, trickery’, depicting the prejudices around the industry. Health Insurance complexityReasons behind are probably due to the complexity of Insurance terms and conditions which create confusion and frictions when claims arise. One of the difficult word to comprehend is “Pre-existing conditions”. What are […]

Cambodia: Health Insurance or Travel Insurance?

Cambodians and Expatriates often ask us for an “International insurance” while often unclear whether they need a Health Insurance or a Travel Insurance. What is the difference between Travel Insurance and International Health Insurance? Travel insurance was created to cover unexpected issues before and during a short stay abroad: ticket cancellation, emergency accident, flight issues, […]

SAFETYNET 7th Anniversary

Safetynet 7th Anniversary (9th June)

On 9th June 2022, it is the 7th anniversary of SAFETYNET from its incorporation in Singapore. We are proud to be the undisputed leader in Health Insurance in Cambodia: 20,000 Members, close to 250 Hospitals in the Network, more than 40,000 medical claims processed, millions of $ paid every year to Cambodians ! Thank you […]

Employees Insurance Cambodia

The National Social Security Fund NSSF is the public Health Insurance scheme in Cambodia based on employment. On top of it, more and more corporations are offering to their staff additional benefits with Health Insurance from the private sector. As of May 2022, Cambodia has more than 18 General Insurance brands or solutions to protect […]

Truth & Facts about SAFETYNET Health Insurance Specialist

Is Health Insurance Necessary? You are Healthy. You eat Healthy Food. You go to the Gym. Why would you spend money on Health Insurance? Because even Healthy people get infected with viruses/bacteria, food poisoning, are detected with Cancer or victims of Accidents. Many hospitalizations in the region are actually due to those events. Health Insurance […]

Elderly people with Health Insurance in Cambodia

SAFETYNET is proud to cover entire families without any age limitations and exclusion of existing diseases.Recently, we had hundred of people above 60 years old. SAFETYNET is looking forward to protecting every generation because Health is our most valuable asset ! We recommend you to read more about Insurance covering Pre-existing conditions. If you want […]

SAFETYNET Teams in Kep province

Safetynet Staff Retreat

The year 2021 was very intense for all SAFETYNET teams in Cambodia with the harsh COVID situation. Keeping our operations running without interruption was imperative to us because we know our insured members need claims reimbursement as quickly as possible. This year transformed us into being even more agile and efficient thanks to more digitalization […]

Insurance ASEAN 2019

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Obviously, Singapore, Malaysia and Thailand have the highest penetration, as it is correlated to their economic development and population maturity toward Insurance products. With a total of $246 Millions of Gross Premium in 2019, the Kingdom has a penetration of the Insurance industry into the GDP of 0.91% (0.4% for non-life insurance). ASEAN societal issues […]

Health Financial Protection (Medical Insurance) for all Cambodians ?

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On the 12th of December was “Universal Health Coverage Day”. According to International organizations, up to 300 million people in the world are reaching unacceptable levels of financial situations due to medical care costs.One may wonder if the private sector in Cambodia could contribute to this goal. Current reality is that commercial Health Insurance plans […]

The Health Insurance for expatriates in Cambodia

Final Expat Health

Cambodia has experienced an exponential growth of foreigners moving to Phnom Penh, Siem Reap, Sihanoukville but also Battambang the past 10 years. Protecting yourself and your family from unexpected medical expenses and accidents is critical in an environment where quality healthcare can be very expensive. There are several players with International insurance plans meaning they […]

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How can Insurance pay heavy claims? Many wonder how Insurance plans in Cambodia are protecting consumers in case of heavy claims, such as a tragic event where the cover guaranteed may reach several hundred thousands of dollars (Hospitalization with a heavy surgery, Accident in Europe with emergency admission, Death benefits….etc..). This is actually possible because […]

តើការការស្រូបយកចំហាយទឹក​​(ឆ្ពុង)​ អាចជួយអ្នកក្នុងការប្រយុទ្ធប្រឆាំងជំងឺកូវីដ ១៩ ដែរឬទេ?

Steam Inhalation English

Amidst the rising number of coronavirus cases, people are looking for ways to safeguard themselves from the deadly. Recently social media in Cambodia is stormed with a claim that says, steam inhalation can fight coronavirus. There’s no proof steam inhalation cures Covid-19. While steaming has emerged as a popular home remedy to beat Covid, doctors […]

How can I identify trustful insurance company in Cambodia?

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As a relatively new industry in Cambodia, one may wonder how to select a reliable Health Insurance company in Cambodia. Needless to say, it is important to check first if it is a licensed Insurance company at the Ministry of Finance. Here are additional tips to pick a trustful Health Insurance company for yourself, family […]

Relationship between Insurance & Hospitals in Cambodia

Relationship Between Insurance & Hospitals In Cambodia

When you purchased a Health Insurance plan for your company, you probably did not ask any questions about the Hospital Network relationship. You mainly were concerned about the number of hospitals. Cambodian Insurance companies and Hospitals relation may seem as simple as: Insurance companies agree with Hospitals to belong to the Network Hospitals call by […]

For your Company in Cambodia: How to select the right Health Insurance plan?

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Every year, Cambodian Leadership teams have to go through the bid for Health Insurance plans. This can be a very unpleasant and complicated duty while employees’ satisfaction/ loyalty may be impacted by this type of extra benefits. Some advice to guide Managers for group Health Insurance selection. PRICE: Premium is important but… The annual budget […]

ធាតុផ្សំ ៥ ចំណុចក្នុងការបង្កើតស្ថេរភាពហិរញ្ញវត្ថុ

5 Key Elements To Building Financial Security

Financial security refers to the peace of mind felt when we aren’t worried about money. Often, this means having enough income to comfortably cover expenses, being debt-free, and having savings to cover emergencies. However, financial security is a relative term, which means it’s possible for anyone to become financially secure. But there are key elements […]

Ask your Cambodian Hospital which Health Insurance to pick !!! 

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It is a common belief among Cambodians that Insurance companies are not trustful and therefore a waste to spend money…There are many Insurance plans and it is very difficult to find the right one. What about asking your Hospital which Health Insurance Specialist is trustful? – Hospitals know which Health Insurance is reliable – SafetyNet […]

Short Overview of Health Insurance in Cambodia

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Health Insurance (which belongs to ”General Insurance”) in Cambodia accounts in 2020 for a total premium $20,995,224. The Year on Year growth was 12.4% while it varied from 12.2% to 30% since 2015. The Medical segment is growing at a much faster pace than Life Insurance and Micro-Insurance. There are currently 16 General Insurance companies […]

ហេតុអ្វីបានជាអ្នកឯកទេសធានារ៉ាប់រងសុខភាពសេហ្វធីណេតរីកចម្រើនយ៉ាងឆាប់រហ័សនៅកម្ពុជា?

Sn Is Growing Fast In Cambodia 2

After a few years in the Kingdom of Cambodia, SafetyNet Insurance Services (Cambodia), Co. LTD. has reached in 2020 a market share of 18% Health Insurance premiums. SafetyNet was founded on the idea that there was a missing product to protect financially Cambodians. A Health Insurance plan which would focus on the Family with guaranteed acceptance […]