Digital insurer FWD Cambodia (“FWD”) today announced the official launch of “LifeCancerCare”, the market’s first fully digital insurance product that covers both life and cancer protection.
Customers can purchase “LifeCancerCare” through any device, anywhere and at anytime via FWD’s website: www.fwd.com.kh. Key features of LifeCancerCare include:
- Paperless procedure for application and purchase
- Three simple and straightforward health questions to determine eligibility
- No medical examination needed
- Combined benefits covering both life and cancer protection
- The cancer care benefit is equivalent to five times that of the life protection benefit
- Affordable premium starting from just about US$15 per year with guaranteed renewal after five years
Rotha Chan, Chief Executive Officer of FWD Cambodia, said, “We’re extremely excited to help pioneer the digitisation of insurance for Cambodians. LifeCancerCare provides more accessible insurance protection with just a few clicks. We’re committed to changing the way people feel about insurance by providing simpler, faster and smoother insurance experiences through our customer-led approach.”
H.E Chanpirou Bou, Director General of Insurance Regulator of Cambodia, said, “I’d like to praise FWD Cambodia for their effort in developing this product which is going to play an important part in fostering the growth of the insurance industry in Cambodia. This is a significant contribution to help make insurance solutions more accessible, convenient and faster for Cambodians through an e-commerce solution.”
Cambodia’s fast-growing and stable economy and the increasing need for financial and health protection provides significant potential for the life and health insurance industry to prosper. The country’s high mobile penetration and fast adoption of mobile payment also supports rapid development for the digitisation of insurance going forward.
FWD Cambodia started its official operations in September 2021. In January 2022, just three months after its grand opening, the company was recognized as Most Innovative New Digital Insurer in Cambodia 2021 by Global Business Outlook Awards. Other products from FWD Cambodia include FWD Short Savings, FWD Loan Protection, and Critical Illness Add-on Plans.