Cambodian information technology (IT) solution firm IG Tech announced on Thursday that it had reached a partnership agreement with Malaysia-based Aetins to sell software to insurance companies.

IG Tech chairman Kim Puthkiry said on Thursday that the collaboration will benefit the Kingdom’s tech sector.

He said it was not just about the sell-buy agreement, but also the transfer of knowledge to support IG Tech’s move to set up a new all-encompassing tech centre.

The centre will serve as a gathering place for the country’s tech-savvy to learn from experts and eventually develop their own software solutions.

“In the future, we will survive with our own solutions and bring our products to compete internationally,” he said.

Puthkiry said the agreement will allow his company to distribute software from Aetins to Thailand, Vietnam, Laos, and Myanmar.

While Aetins is a major player with IT solutions for the insurance industry, Puthkiry said he aims to sign similar partnership agreements with IT solution firms from the US, Germany, India and Singapore.

He is looking for firms that specialise in payment platforms, banking systems and other technological areas.

Puthkiry plans to set up a co-working space and recruit 10 people from the insurance industry – 20 working in digital solutions and 15 to train in payment solutions.

Aetins managing director Kupusamy Kanniah said the growth of Cambodia’s financial sector has created business opportunities in the insurance industry and provided his firm an opportunity to enter the market.

“Cambodia’s insurance market potential is so high that it is now imperative for players to look for the right technology-enabled solutions to stay competitive and grow,” he said.