Phnom Penh, 26 July 2023 – AIA (Cambodia) Life Insurance Plc’s (“AIA Cambodia”) strategic bancassurance partner Amret Microfinance Institution was awarded the Bank Partner of the Year at the recent Asia Trusted Life Agents & Advisers Awards in Singapore.
The annual Awards points out that ‘Amret and AIA (Cambodia)’s partnership is unique in Asia because it serves a segment of the population typically not covered by bancassurance partnerships’ and recognizes the collaboration as having brought affordable insurance to the long- and short-term customer sections.
It also highlights Amret and AIA Cambodia’s work in catering to underserved segments of society, which comprises the bulk of the former’s customers. In 2022, the partnership resulted in a year-on-year growth of 24% and insured 22,000 lives.
Both organizations began working together in 2018, embarking on a partnership that stands out as among the few between an international insurer and a Cambodian microfinance institution (MFI) attending to an underserved segment with quality life and health insurance.
Amret is today the second largest MFI in Cambodia. AIA Cambodia, which commenced business here in 2017 with its overarching purpose of providing Cambodians with Healthier, Longer and Better Lives, is the Kingdom’s leading life insurer.
Amret Chief Executive Officer Dos Dinn said: “This award acknowledges the impact we have had on our underserved customers. Working with AIA Cambodia enables us to reach out to more individuals with seasonal incomes, especially women, and build meaningful, personal relationships that reflect our standing as one of Cambodia’s most responsible and trusted financial corporations.”
AIA Cambodia Chief Executive Officer Mr. Andrew Loh said: “My heartiest congratulations to Amret and their role in making our partnership a success. We are honored to work with such a respected corporate citizen in more making life and health financial protection accessible.
“The award shows that our organizations keep to the highest standards of professionalism, governance and customer protection. This underlines our long-term commitment to helping the Kingdom develop socioeconomically, strengthen our communities and grow the financial and insurance industries.”
The AIA Group’s agents, companies and partners won more honors than any other insurer at the Awards, organized by Asia Insurance Review, Asia Advisers Network and the US-based Life Insurance Marketing and Research Association (LIMRA). It was judged by CEOs, senior executives, industry leaders and experts, with balloting supervised by global audit firm KPMG.
For more details on AIA Cambodia, please email kh.marketing@aia.com. For information on AIA Cambodia’s comprehensive life, critical illness and accident solutions and medical coverage, do contact AIA Client Care at 086 999 242, visit aia.com.kh or browse www.facebook.com/AIACambodia.
About AIA Cambodia
AIA (Cambodia) Life Insurance Plc (“AIA Cambodia”) is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group with branches and subsidiaries in 18 markets.
AIA Cambodia is guided by our purpose to help Cambodians live Healthier, Longer, Better Lives. Since commencing business in 2017, we’ve become the first life and health insurer to provide coverage on 26 critical illnesses. As among the Kingdom’s premier insurers, AIA Cambodia today offers market-leading life and health solutions for all walks of life ranging from tailor-made crucial coverage plans that include critical illnesses, accidents, medical insurance and overseas emergency assistance.
We focus on building an inclusive society that benefits from a healthy lifestyle, achieving this via community-first initiatives that include partnering the Ministry of Women’s Affairs to further empower gender equality and women’s rights and raising breast cancer awareness through our annual Fit for Hope campaign.
AIA Cambodia also uplifts thousands of underprivileged children by sponsoring the AIA-ISF Youth League – Cambodia’s largest grassroots football league. We collaborate with AIA’s global principal partner, English Premier League club Tottenham Hotspur, to ensure these children receive the education they deserve.
AIA Cambodia is the only Cambodian life insurer awarded HR Asia’s “Best Companies to Work for in Asia” for three consecutive years, from 2020 to 2022. Headquartered in Phnom Penh, the company currently has branches in Siem Reap, Kampot, Kampong Cham and Battambang.
