Cambodia: Camlife ties up with UAE InsurTech firm in microinsurance initiative
Source: Asia Insurance Review | Apr 2019
Cambodia Life Insurance (Camlife) has teamed up with UAE-based InsurTech start-up Democrance to offer affordable and accessible life microinsurance products via the mobile channel.
Through the integration of Democrance’s proprietary cloud-based platform, Camlife’s entire insurance system is digitised and automated, from marketing to claims processing. This digital transformation results in substantial cost savings and enables the Cambodian insurer to reach new market segments through mobile phones.
The partnership with Cambodian mobile operator, Cellcard, means that mobile subscribers only need their phones to buy, pay for, use and make claims for affordable life and health microinsurance products, via the Democrance platform. A