News eDaily07 Nov 2017

Cambodia:1st online insurance quote platform started

07 Nov 2017

The first online insurance quote system in Cambodia has been launched, allowing users to access instantaneous indicative quotes for health, vehicle, fire and allied peril and travel insurance.

The system is made available by Cambodian Investment Management Insurance Agent (CIMIA), a majority owned subsidiary of Cambodian Investment Management.

Under the platform, indicative quotes are sent immediately to the email address of the user by PDF file. The user may be required to provide additional information, such as pre-existing conditions for health insurance, to finalise the quote. CIMIA provides the option of quickly buying the policy through its agency licence, once the underwriting is confirmed by the insurer.

Mr Anthony Galliano, the company’s chairman, said: “This is another milestone in Cambodia’s insurance market and a natural progression in its maturity. Although insurance quote systems are prevalent globally, none exists until now in Cambodia.”

He said that currently CIMIA is partnered with one local general insurer and plans to add a life insurance company during the first quarter of next year.

The quotation system is now live and is available in English. Khmer, French and Chinese versions are scheduled to be ready in the first quarter of 2018.


 

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