Players in the Health Insurance Industry

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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 (

2. Insurance Company (Insurer, the risk taker)

Insurance companies are financial firms which offer Insurance plans, providing financial protection from possible hazards in the future. They issue insurance policies, collect premiums, and pay out claims when necessary. They are subject to the supervision of the Insurance Regulator of Cambodia.

3. Reinsurance Companies (Reinsurer, the risk taker)

Reinsurers provide insurance to insurance companies. Reinsurers help insurers manage risks to maintain financial stability.

4. MGA/MGU (specialized agent)

They are agents vested with underwriting authority from an insurance company. They perform a wide scope of responsibilities, ordinarily managed by insurers such as binding coverage, underwriting and pricing, appointing sales distribution network, customer service and settling claims. MGA/MGUs are often more familiar with some segments. Also, they have platforms to collect premiums and create insurer reports, cutting down time on an insurer’s administrative tasks.

This is one of the fastest growing segments in the insurance industry because they provide several key benefits to Insurance companies and clients.

5. Insurance Broker (intermediates for distribution)

Insurance brokers function as intermediaries between clients (individuals or businesses) and insurance companies’ consumers. They assess clients’ needs, recommend suitable policies, and negotiate with insurers on behalf of their clients and get in exchange a commission from the provider (insurance company).

Check this table for an easy understanding !!!! Table Comparison

Each player contributes to the functioning and integrity of the insurance ecosystem, ensuring that individuals and businesses receive financial protection when needed. If you want to know more about SAFETYNET Cambodia health insurance plans, feel free to contact: -or- call us 023 23 57 57.

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