Phnom Penh: Chief Bank and Forte Life Assurance signed MoU on 09 December 2023 at Grand Star Platinum under preside over Oknha Dr. Soeung Morarith, CEO of Chief Bank, Mr. Prou Sythan CEO of Forte Life Assurance, Management of both companies and distinguished guests.
The MOU is evidence of outlines the terms and conditions of their collaboration. The agreement will enable Chief Bank to offer insurance products to its customers, while Forte Life Assurance will have access to Chief Bank's extensive customer base.
According to Oknha Dr. Soeung Morarith," The signing of the MOU comes at a time when the insurance industry is experiencing significant growth and development. With the increasing demand for insurance products and services, financial institutions need to collaborate and offer innovative solutions to our customers.” This is also consistent with the banking and insurance regulators' (NBC and IRC) financial inclusion strategy, in which bank customers can optimize and leverage this partnership toward more comprehensive financial solutions with a one-stop shop Chief bank.
It is a step in the right direction toward achieving this goal. We are committed to providing our customers with the best possible products and services, and this collaboration will enable us to achieve this objective.” Oknha Dr. Morarith added.
“Insurance plays an important role in reducing poverty and promoting economic development in society, families, and the country as a whole. We don't know what will happen to us and our families in the future, so it's a financial safeguard." According to Mr. Prou Sythan.
"We are committed to continuing to collaborate and build a strong relationship with Chief Bank," he added. We are confident that this collaboration will produce outstanding results for our company and the communities we serve, and we are also excited to have reached an agreement with Chief Bank, Cambodia's fastest-growing bank.
About Chief Bank
Chief Group places business integrity ahead of business gains in its long-term business strategy and strictly adheres to corporate social responsibility. Chief Bank is working for a better future for people in the host country, our valued customers, our employees, and society at large. Their success is our success. We have introduced our corporate philosophy ‘The Chief Way’ to guide our team for serially successful accomplishments and achievements. It is a way to build mutual trust and partnerships with our customers, the key to shared prosperity, and a way that our business is sincerely conducted with the highest professional ethics possible.
About Forte Life Assurance
Forte Life is a fast-growing life insurer committed to be the best domestic life insurance company by leveraging on Forte’s strength as Cambodia's oldest insurer for over 20 years. For our customers, who represent the first generation of Cambodians to use life insurance solutions, we aim to provide a delightful journey with us by offering the most innovative affordable, and simple products, along with a positive claim experience.
Forte Life was recently named the International Finance Awards' Fastest Growing Life Insurance Company and Most Innovative Corporate Life Insurance Provider. This demonstrates Forte Life's importance as an insurance partner in Cambodia.
