Chan Rotha is no ordinary man. He is leading a team of more than 4,000 people. In a nutshell, he is a successful self-made corporate figure.
Thirty eight-year old Rotha works for Manulife, a world-class Canadian life insurer, as Chief Agency Officer. He was the first Cambodian hired by the company back in 2012.
“If you want a successful life and to make a difference in life and to society, this is the profession to choose,” Rotha told The Post in a recent interview.
The life insurance industry is ready for a boom in Cambodia. The numbers are fascinating.
The penetration rate is just 0.3 per cent of the 16 million population and robust industry growth of 50 per cent year-on-year. This combined with a growing middle class, that often drives the life insurance business, and a favourable macroeconomics environment – will certainly add a fillip to the sector.
Manulife which entered the Cambodian market in 2012 is currently protecting 70,000 customers with a total sum insured at US$1.7 billion.
Powered by a strong salesforce of more than 4,000 insurance advisers Manulife is on its way to build a better financial future for Cambodian families with its geographic expansion to key locations in the country. The company’s mission is to help customers make their decisions easier and their lives better.
In November, Manulife opened its sixth branch in Preah Sihanouk.
“The penetration level is very low [in Cambodia], less than one per cent of the Cambodian GDP [gross domestic product]. I am optimistic the growth rate will be significant and there are opportunities for us to further develop in this industry.”
“We need to educate the public and create awareness among parents about their children’s education and about critical illnesses."
“By investing in life insurance, parents can ensure a good education for the children and it is the best way to invest for education,” added Rotha.
Manulife insurance advisers are taking their business to the grassroots, he says, where they give talks to about two to three thousand people every month – an indication that there is growing interest on the need for insurance policies.
“There is a changing perception about the industry. It is not about death anymore, it’s more about security and making life better for families."
But it is a challenge to sell an intangible product, so we offer them security and trust,” says Rotha.
Manulife offers a comprehensive training package for its advisers and staff plus attractive numeration, which includes overseas travel and ample opportunities for career advancement.
Rotha is now trying to create a diverse team including millennials, who are dynamic and ambitious.
Cambodia’s first adviser to join the Million Dollar Roundtable Club is a woman.
Last year, 25 Cambodians joined the Million Dollar Roundtable Club, a clear testimony of their success story in the insurance industry.
“If you choose it (career), love it and work hard. Success is not just material ‑ but how you change as a person,” was his parting shot.