When Forte Insurance (Cambodia) Pic, first set up shop here in 1999, it faced a market that had little or no understanding of the benefits of being insured. But thanks to an unwavering focus to develop the industry and a proactive "Let's-tell-the-whole-Kingdom-
about-insurance" attitude, the little underwriting and brokerage outfit has today grown to become the leading insurer in the country.
Forte currently has a total of five branches nationwide and a range of innovative products and services. More importantly, however, the insurer has managed to school more and more local organizations and individuals on the importance of insurance, resulting in the company being acknowledged as the industry's market leader with a 45.3% share.
The secret to their success lies in the fact that their offerings are solely Forte-branded and developed to exclusively meet the needs of the local market. Their Property, Auto, Health and Travel lines, for instance, have seen significant premium increases since being introduced and currently count among the insurer's best-received offerings.
It's not only their products that have evolved to meet changing local needs, but their customer base as well. Beginning with a focus on the corporate sector, Forte has slowly branched out to add individual customers to their portfolio.
Their comprehensive personal insurance lines are customizable, flexible and provide security to Cambodians of all walks of life.
"Our ultimate aim is to provide coverage to every single Cambodian," said Forte CEO Charles Cheo. "Aside from offering them security and peace of mind, we believe that contributing to the development and success of the people and community here has, and will always be, fundamental to our success."
Forte's ties to the community do not extend to just coverage, however. The company has championed various community causes since first starting out 18 years ago. To date, Forte has initiated a tree-planting campaign for students, donated clothing and financial aid for flood relief victims, assisted in building classrooms for school children and undertaken numerous other initiatives under their Corporate Social Responsibility program.
Despite the market share, the recognition and the awards, however, the Kingdom's oldest insurer has no intention of resting on their laurels. Instead, Forte aims to continue to be an insurance agent of change by offering even more innovative products to Cambodians. The company also plans to continuously expand their existing lines to keep up with the times.
"With the advent of new technologies and business practices, it's no longer feasible for insurers to stick to tried and traditional insurance offerings if they are to remain relevant," said Cheo. "As the leading insurance company here and one that cares for all Cambodians, Forte has a responsibility to introduce pioneering plans that benefit all industries and every segment of the community."