Sovannaphum Life, a leading life insurance company in Cambodia, has partnered with Hattha Bank, one of the largest banks in the Kingdom, to launch a new life insurance product called “SMILE Extra Care Rider”.
“SMILE Extra Care Rider” provides comprehensive coverage to customers, covering up to 80 different types of critical illness from minor stage to major stage. These include cancer, acute heart attack, end stage kidney and liver failure, major stage lung disease, fulminant hepatitis and others, as well as surgery.
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 a bancassurance partnership with Hattha Bank,” said Loke Kah Meng, the 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 localised product tailored to the needs of Cambodian customers, and it is designed to offer special coverage only for Cambodians.”
Hattha Bank President and CEO Oknha Hout Ieng Tong hailed the new product for providing customers with peace of mind. “We are proud to partner with Sovannaphum Life to launch ‘SMILE Extra Care Rider’,” he said. “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 society.”
About Sovannaphum Life Assurance Plc
Sovannaphum Life Assurance Plc is a joint venture Company between Canadia Investment Holding PLC, with a legacy since 1991, and Muang Thai Life Assurance PCL from Thailand.
Sovannaphum Life Assurance Plc was granted a full licence as a life insurance company by the Ministry of Economy and Finance in 2015, and started operations in 2016.
With strong support from shareholders, plus the use of “customer centricity” to understand the behaviour of Cambodian customers, Sovannaphum is able to develop the right products and services to fulfil their specific needs.
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 and 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.