Cambodian Investment Management Insurance Agent (CIMIA), a majority owned subsidiary of Cambodian Investment Management, plans to launch the Kingdom’s first online insurance quote system today, allowing users and potential clients to get immediate access to details on an array of insurance products.
Users of the quote system will be able to access quotes for health, automobile, fire and travel insurance simply by providing basic information on the online platform. Quotes will then be sent to the registered email address of the user with an attached PDF file.
Anthony Galliano, CEO of Cambodian Investment Management, described the launch of the platform as another milestone for Cambodia’s insurance industry, adding that that this type of quote system is prevalent globally and is becoming a preferred tool for consumers.
“We are expecting the consumer market to begin to embrace insurance, as presently the market in Cambodia is approximately 85 percent corporate and 15 percent consumer,” he said yesterday. “Now that consumers can easily obtain a quote via the internet, automobile, health and travel insurance should experience the most growth.”
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 profit model for the platform is commission-based, relying on users to take out policies. He added that the quote process is now shortened, from days when requested offline to mere minutes when offered online.
“The user can then consult with us if they need more information [. . .] and if satisfied can confirm that they wish to purchase immediately, thus secure coverage quickly,” he said.
Daniel Santantoniou, CEO of CIMIA, said that the platform can be accessed by desktop, tablet and mobile phone.
“We remain committed to a thorough consultation to ensure the potential purchaser understands the product, and we will continue to provide a high-quality administration service of collection of premiums and disbursements of documents,” he said.
The online platform is currently available in English only, but will roll out in Khmer, French and Chinese languages in the coming months.