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Phnom Penh, November 01, 2023: Sovannaphum Life, a leading life insurance company in Cambodia, has partnered with Hattha Bank, one of the largest banks in Cambodia, to launch a new life insurance product called "SMILE Extra Care Rider".
"SMILE Extra Care Rider" is a rider that provides comprehensive coverage to customers, covering up to 80 different types of critical illness from minor stage to major stage, including cancer, surgery, acute heart attack, end stage of kidney and liver failure, major stage lung disease, fulminant hepatitis, and others. The product covers the insured person from the age of 18 to 65, with a minimum sum assured starting from $3,000.
"We are
excited to launch 'SMILE Extra Care Rider' in bancassurance partnership
with Hattha Bank," said Mr. Loke Kah Meng, CEO of Sovannaphum Life. "This
product offers comprehensive coverage for a wide range of health issues,
providing financial security for our customers and their families."
"SMILE Extra Care Rider" is a localized product that is tailored to the needs of Cambodian customers and it is designed to offer special only for Cambodians.
"We are proud to partner with Sovannaphum Life to launch 'SMILE Extra Care Rider'," said Oknha Hout Ieng Tong, President and CEO of Hattha Bank. "This product offers affordable premium and comprehensive coverage, providing our customers with peace of mind and also financial security."
The launch of "SMILE Extra Care Rider" is a significant milestone for Sovannaphum Life and Hattha Bank, as they continue to expand their offerings to Cambodian customers and provide innovative solutions to meet the needs of our society.
About Sovannaphum Life Assurance Plc.
Sovannaphum Life Assurance Plc. is a joint venture Company between Canadia Investment Holding PLC., a legacy since 1991, and Muang Thai Life Assurance PCL from Thailand.
Sovannaphum Life Assurance Plc. was granted a full license as a life insurance Company by the Ministry of Economy and Finance in 2015, and started operations in 2016. With strong support from both shareholders, plus the use of “customer centricity” to understand the behavior of Cambodian customers, we will be able to develop the right products and services to fulfill the specific needs of Cambodian customers.
About Hattha
Bank Plc.
Hattha Bank, a commercial bank with a presence in Cambodia for nearly three decades, offers a comprehensive array of financial services to its customers. These services include loans, savings accounts, local and international money transfers, local bank transfers, ATMs, Hattha Mobile banking, payroll services, as well as insurance and other financial products. Hattha Bank operates as a subsidiary of Krungsri Bank, the fifth-largest financial consortium in Thailand with a 77-year history. Krungsri Bank holds a strategic position within the MUFG Financial Group, the largest financial group in Japan and one of the largest globally.
