Logo of Phnom Penh Post newspaper Phnom Penh Post - GC Life Insurance places priority on protecting women and children

GC Life Insurance places priority on protecting women and children

Content image - Phnom Penh Post
GC Life’s skilled workforce is ready to serve customers’ insurance needs. SUPPLIED

GC Life Insurance places priority on protecting women and children

GC Life Insurance – with the Kingdom witnessing a tapering off of Covid-19 – is leveraging on its customer-friendly digital platforms combined with a skilled workforce to tap demographic trends and harness the market.

Underscoring that there is a “big potential market” for insurance in Cambodia, with market penetration levels remaining low compared to neighbouring ASEAN countries, the insurer is rolling out personalised products – specifically targeting women and children this year.

“GC Life focuses on launching different types of unique insurance products to enrich people’s lives, such as our GC Neary Care – which has been specifically designed for women – and GC Scholar, especially for children, who will be the next generation to lead the Kingdom,” said GC Life Insurance CEO Michael Tee.

Content image - Phnom Penh Post
GC Life Insurance CEO Michael Tee. SUPPLIED

Based on recent statistics, women are playing an increasingly crucial role in providing financial support for their families.

According to the Cambodia Socio-Economic Survey 2019-20, females comprise 49 per cent of the labour force in the Kingdom, with 38.6 per cent self-employed and 40.9 per cent salaried.

“We can see that Cambodian women are contributing more to the country, society and their families than ever before – GC Life has noticed this and launched the first life insurance product in Cambodia specifically designed for ladies called GC Neary Care,” said Tee.

GC Neary Care covers women when they have children, require health check-ups or suffer from female-related cancers, or should they encounter other issues.

An interesting feature of the policy is that it comes with a maturity benefit at the end of the insurance policy term that provides a lump sum cash payment.

GC Life has also developed a wide range of insurance products with affordable premiums, such as savings, education and loan protection – all aimed at protecting Cambodians in different ways based on their needs.

“GC Scholar was developed to protect children and provide education saving benefits. Also, our optional Juvenile Critical Illness Rider was the first child critical illness rider in the market.

“GC Life’s mission is to enrich people’s lives, and we want to protect every Cambodian and not just the head of household.

“In addition, GC Life has saving products, pure protection products and group products with different types of coverage,” said Tee.

GC Life is relying on digitisation extensively as it wants to be environmentally friendly and provide the best customer service, with the process of digitisation having accelerated during the pandemic.

“Currently, we are in phase two of our business enhancement, especially in helping our sales force expand their customer base with other alternative distribution channels to engage with potential customers.

“As for recruitment, we are in the process of implementing our electronic recruitment process that encourages a paperless working environment. GC Life is also moving further towards the next step of online self-purchasing and customer applications to provide a better platform for our customers and partners.

“This milestone is expected to be launched within the second half of this year. And in 2022, GC Life will focus more on corporate social responsibility.

“We foresee Cambodia being in the recovery phase from the pandemic this year, and we would like to contribute to society by supporting those who suffered during it by providing better education through campus improvements and medical needs through blood donations,” said Tee.

Content image - Phnom Penh Post

MOST VIEWED

  • Research key to Kanitha’s rep for expertise

    Sok Kanitha is used to weighing in on controversial issues using a confident approach that signals expertise and authority, and a recent video she made was no exception. Her “Episode 342: The History of NATO” video went live on January 16, 2023 and immediately shot to 30,000 likes and 3,500

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Knockout! Kun Khmer replaces ‘Muay’ for Phnom Penh Games

    Cambodia has decided to officially remove the word Muay from the programme of the 32nd Southeast Asian (SEA) Games 2023 in May. “Kun Khmer” will instead be used to represent the Southeast Asian sport of kickboxing, in accordance with the wishes of the Cambodian people. Vath

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • New int’l airport nearly half complete as travel industry returns to life

    Construction of a new airport that is slated to serve the capital has passed the 43 per cent completion mark, raising prospects for a proper recovery in the civil aviation and tourism sectors as international travellers return to the Kingdom in increasingly large numbers. The figure

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,