Prudential (Cambodia) Life Assurance Plc on Tuesday signed a memorandum of understanding (MoU) with Vietnamese-owned mobile operator Viettel (Cambodia) Pte Ltd (Metfone) and mobile financial services provider E-Money Payment Solutions Plc (e-Money).
The MoU will help establish a long-term mutual collaborative relationship in areas such as telecommunications, life insurance and mobile wallet services, Prudential Cambodia said in a press release.
It noted that under the agreement, the partners will provide personalised services to customers in the Kingdom, such as online payment methods and enhanced telecommunications-insurance services.
It added that Metfone will provide Prudential Cambodia with Session Initiation Protocol (SIP) trunking services, internet service connections, information and communications technology (ICT) services, eConnect, SMS Brand Name and more.
Metfone and e-Money will enable Prudential Cambodia’s customers to pay their insurance premiums through the e-Money payment system or mobile accounts.
e-Money will also provide Prudential Cambodia with payment solutions to simply the claims process for customers who have an e-Money wallet.
Prudential Cambodia will be able to advertise its insurance solutions and services on eMoney and Metfone mobile apps.
In addition, Metfone customers will have free access to Prudential Cambodia’s digital app, Pulse by Prudential (Pulse), and can use it to manage policy details and access other health services.
Metfone CEO Phung Van Cuong lauded the MoU as the next step in the firm’s digital evolution.
He said: “Working together, the three companies will provide personalised service through the most creative approach for connecting and serving people, providing customers with peace of mind and helping them live healthier, more comfortable lives.”
e-Money CEO Pham Doan Cuong said: “Prudential Cambodia can also pay insurance claims to their customers through more than 8,000 e-money agents nationwide.”
Prudential Cambodia CEO Sanjay Chakrabarty said the agreement is part of his company’s objective to help people get the most out of their lives, a mission made all the more urgent now amid Covid-19 and the recent floods.
“As the largest life insurer in Cambodia with over 200,000 customers, supported by our strategic cooperation with the two leaders of their respective fields, Metfone and e-Money, I believe we are in a unique position to widen access to life insurance for the millions of uninsured or underinsured people in Cambodia,” he said.
On October 7, Mey Vann, who heads the Ministry of Economy and Finance’s General Department of Financial Industry, said 38 insurers currently operate in Cambodia, including 18 general insurers, 14 life and six micro-insurers.
