Bancassurance is a partnership relationship between banks and insurance companies which is aimed at providing insurance products to banks' customers and even new-to-bank customers. With this partnership relationship, banks' products and propositions are strengthened with health and financial protection offering. Insurance penetration is further penetrated and can drive economic growth. The global bancassurance market is projected to grow by a CAGR of more than 6% from 2022 to 2028, with much of that growth focused in developing markets in Asia-Pacific, including Cambodia.
The National Bank of Cambodia (NBC) and Insurance Regulator of Cambodia (IRC) have been working together to strengthen bancassurance in Cambodia. On March 31, 2021, the NBC issued a circular on bancassurance to define the regulatory framework for those few dozen banks and insurance companies already engaging in the practice, and the IRC has prioritized bancassurance in its 2021-2030 insurance sector development strategic plan.
AmCham will host this event, the first by any chamber in Cambodia to focus on bancassurance, to discuss the changing role of bancassurance in the region and highlight the many ways bancassurance has encouraged both banks and insurance companies to relook at their customers and determine ways of collaboration. This mutually-beneficial approach has positively impacted the financial and insurance sectors, as well as the overall economic growth of the country.
We are also delighted to welcome McKinsey & Company from Hong Kong to speak on this subject!
Join us on March 22, 2023 at 5:00pm at Raffles Hotel Le Royal to learn more about bancassurance in Cambodia, and how it will continue to evolve in the short and medium term.
🗓: March 22, 2023
⏰: 6:00 pm - 8:30 pm
🎟 : $45 (for AmCham members), $55 (for public tickets)
📍: Raffles Hotel Le Royal
❗Registration Deadline is on March 20, 2023 at 5pm ❗
