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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]