The Digital Economy and Business Committee under the National Digital Economy and Society Council is promoting the role of insurance sector and fin tech in digital economy, as it is gathering more inputs to the drafting of Cambodia’s Financial Technology Development Policy into motion.
A workshop on the Role of Insurance Sector and Fin Tech in Digital Economy will be held on June 15 at Sofitel Phnom Penh Phokeethra with the cooperation of the Insurance Regulator of Cambodia and the Insurance Association of Cambodia.
The workshop will be presided over by H.E Ros Seilava, Secretary of State, Ministry of Economy and Finance, and Chairman of the working group on drafting the Cambodia’s Financial Technology Development Policy.
The workshop will be participated by high-ranking government officials, including chairman, vice chairmen and members of the working group on drafting the Cambodia’s Financial Technology Development Policy, and all insurance companies in Cambodia.
According to the Ministry of Economy and Finance, the primary objectives of the workshop are to gather more inputs on the insurance sector and to disseminate the government’s policies, laws and regulations on digitalisation and insurance.
It is also aimed to identify current trends, challenges, and opportunities in the insurance sector and identify potential roles of existing data exchange digital platforms in Cambodia.
The workshop will also feature presentations and a panel discussion on regulations, development, good practices and challenges in the digitalisation of the insurance sector delivered by distinguished delegates from relevant government bodies, insurance companies as well as representatives from Thailand and Malaysia.
There are currently 39 insurance companies - 18 general insurance companies, 14 life insurance companies, 17 macro insurance companies, and a reinsurance company - in Cambodia.
The sector’s gross written premiums (GWP) for 2021 amounted to US$297.6 million, up 9.6 percent from a year earlier, according to the Insurance Association of Cambodia.
Source: Agency Kampuchea Press