AIA Cambodia and Smart Axiata Jointly Announce Partnership: Technology-enabled Innovation in Life Insurance
Phnom Penh, 19th April 2017: AIA (Cambodia) Life Insurance Plc. (“AIA Cambodia”) and Smart Axiata Co., Ltd. (“Smart”) have jointly announced a long-term partnership where AIA Cambodia will leverage the cutting-edge services provided by Smart to bring differentiated life insurance products and services to people in Cambodia to meet their growing financial protection and long-term savings needs.
AIA Cambodia is part of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group and the second largest life insurer in the world. Having received an insurance license from the Ministry of Economy and Finance earlier this year, AIA Cambodia expects to launch its operations in the Kingdom soon. Smart is a leading mobile telecommunications company in Cambodia serving over 8 million people across all 25 provinces with the fastest mobile Internet in Cambodia – 4G LTE powered by Smart.
Smart will support AIA Cambodia in connecting with the Cambodian people, and will enable the life insurer’s state-of-the-art interactive sales platform via its market-leading telecommunications network and mobile financial services. The two companies will also work together to make a positive difference in the lives of Cambodians, and contribute to the Kingdom’s socioeconomic development in the long-term.
Mr. Richard Bates, Chief Executive Officer of AIA Cambodia, said: “We are delighted about our long-term partnership with Smart. With the support from Smart, AIA Cambodia will be able to connect with millions of people in Cambodia and to provide peace of mind to them with differentiated life insurance solutions and services.”
Chief Executive Officer of Smart Axiata, Mr. Thomas Hundt, is equally enthusiastic about this partnership as he recognizes the significance of life insurance: “Smart firmly believes in improving lives across Cambodia by providing the widest and fastest connection and quality value-added services. This exciting partnership with AIA Cambodia is a mirror of Smart’s tireless commitment to this goal and our journey towards being a digital lifestyle brand. With our award-winning nationwide Internet services and 4G network, we are helping to improve access to life insurance and effectively open the pathway to financial security for Cambodian families.”
Life insurance services are still largely new to Cambodia, but as the country’s growing tech-savvy population continues to become aware of the advantages, both Smart and AIA Cambodia are confident that their new partnership will lead to improved quality of life and opportunities for people across Cambodia.
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About AIA Cambodia
AIA (Cambodia) Life Insurance Plc. (“AIA Cambodia”) is a wholly owned subsidiary of AIA Group Limited (“AIA” or the “Group”), the largest independent publicly listed pan-Asian life insurance group and the second largest life insurer in the world by market capitalisation .
The Group has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar. AIA is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$185 billion as of 30 November 2016. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.
AIA Cambodia received an insurance licence from the Ministry of Economy and Finance in February 2017. Planning to start its operation this year, AIA Cambodia will introduce differentiated life insurance products and services to meet the growing protection and long-term savings needs of people in Cambodia. AIA Cambodia is committed to contributing to the kingdom’s economic and social development over the long term.
Smart Axiata Co., Ltd., a leading mobile telecommunications company of Cambodia, serves currently over 8 million subscribers under the 'Smart' brand. Smart Axiata is part of Axiata Group Berhad, one of the largest telecommunications groups in Asia.
In January 2014, Smart launched its 4G LTE network and became the first mobile operator in Cambodia to provide true 4G services. 4G LTE powered by Smart, is available across all 25 provinces widely. Smart also provides 2G, 2.5G, 3G and 3.75G mobile services, supporting the very latest in multimedia and mobile internet services as well as international roaming across more than 190 countries. Its extensive nationwide network coverage now covers more than 98% of the Cambodian population. In September 2016, Smart launched 4G+ aka LTE Advanced using Carrier Aggregation, fostering its data leadership position in Cambodia.
Through its partnership with Apple, Smart is the one and only telecom operator partner of Apple in Cambodia being able to offer iPhone’s and iPad’s. Smart moreover is the exclusive partner of Universal Music in Cambodia. Being a strong advocate of digital innovation, Smart has launched various ranges of value added services and digital services such as SmartLuy, Smart Life Insurance, SmartPay, Smart Music and SmartNas.
Smart Axiata was recognized as Cambodia’s Mobile Service Provider 2016 by Frost & Sullivan following the Asia Pacific Emerging Market Telecom Service Provider of the Year Award in 2015. Smart Axiata has also been awarded as the Best Telecommunications Company Cambodia and Best CSR Company Cambodia for three consecutive years in 2015, 2016 and 2017 by Global Banking & Finance Review. Smart’s data leadership position was certified by Ookla by awarding Smart being the winner of Ookla’s Speedtest Award 2016 | Cambodia’s Fastest Mobile Network.
The company's workforce consists of more than 1000 people including local and foreign experts. Smart is committed to its customers, employees and the people of Cambodia in delivering its promise of improving their lives. "Live. Life. Be Smart."