Forte, one of the largest and oldest insurance companies in Cambodia, is deeply committed to sustainability. This year, Mr Ny Lyhoung, Business Unit Head of Micro and Agriculture insurance, participated in the Cambodia Climate Change Summit 2023 (CCCS23), co-organized by the Ministry of Environment (MOE) and the Mekong Future Initiative (MFI).

The Cambodia Climate Change Summit 2023 was held in the Siem Reap from 1 to 3 November 2023 at the Borei Angkor Resort & Hotel which brought together government officials and experts from various businesses and organizations to highlight the progress made in addressing climate change. At the summit, Mr Lyhoung shared the positive impact that Forte's Weather Index Crop insurance (WICI) has made on the livelihood of thousands of Cambodian farmers, protecting their crops and alleviating their losses caused by extreme weather and climate change.

Weather Index Crop insurance is an innovative approach to managing climate-related risks. It uses a pre-defined weather index, such as excessive rainfall and/or drought, to determine payouts. This type of insurance allows for faster and less complicated claim payouts compared to traditional crop insurance, which can be a lifeline for smallholder farmers who suffer crop losses due to extreme weather events.

We are proud to be able to take part in this Summit and demonstrate how our Weather Index Crop insurance has been an innovative solution acting as protective shield for local farmers who are especially vulnerable to the effects of climate change.