CB GENERAL INSURANCE PARTNERS WITH MGA FOR ONLINE AUTO INSURANCE SALES PLATFORM
CB General Insurance recently signed a memorandum of understanding on the establishment of collaborative development in online platform for private vehicle insurance with MGA Asia Insurance Brokers.
CB General Insurance was represented Mr. Joshua Wong, Deputy CEO and Mr. Jimmy Lim, Chief Business Officer while MGA Asia Insurance Brokers was represented by Mr. Meas Sophat, Chairman and their leadership team.
‘We are very honored to join MGA’s exciting online platform, which is a game-changer in Cambodia’s fast growing general insurance sector. The future of our industry lies in the adoption of technology to provide more efficient distribution of insurance products, and this development in Cambodia is in step with many countries in the region which has leveraged on financial technology. This strategy is also in line with our own core system platform which will allow more efficient processing of insurance policies and claim matters,” says Mr Joshua Wong.
“MGA’s online platform initiative, branded as MGA Cover is an InsurTech platform and aims to make insurance simple, transparent, and reliable for every customer so they can achieve their aspirations. Through MGA Cover, customer can quickly view the quotes, compare premium, plan details, and terms and conditions of policies of each insurance company in just a few clicks.
The client can also buy an insurance policy and make payment online securely and get protected instantly. Moreover, the client is able to file a claim and renew your policy online as well. MGA Cover will drive digital insurance distribution in Cambodia forward and make a positive impact for many Cambodian people.’’ says Mr. Meas Sophat.
CB General Insurance Plc. (CB Insurance) was set up in 2018 and obtained its operation license in Q1-2019. CB Insurance is licensed to market all lines of business regulated by Cambodia Insurance Law. Since its inception, CB Insurance has grown to establish itself as one of the fastest growing general insurance companies in Cambodia. Between 2020 and 2022, it has grown its non-Aviation gross premium sales by 122%, with an average year-on-year growth rate of 49.5%
When its new Deputy CEO, Joshua Wong joined in April 2021, he set about to optimize CB Insurance operations, focusing on building a company culture based on innovation, being customer-centric and technology-focus to create product and services which are market-leading.
Joining Mr Joshua Wong in June 2021, is our Chief Business Officer, Jimmy Lim, who brought along 2 decades of experience in sales and marketing across the Southeast Asia region, with the past 7 years across the Indochina region. Lim re-energized the company with a new strategic blueprint to take CB Insurance to its next stage of growth and performance. Together, they inspired the company to set itself apart in the industry, with new innovative products such as Domestic Travel Care, SME Care, Retail Care, Home Care and Reno Care, just to name a few.
CB Insurance counts many prestigious brands in their clientele, such as Cambodia Airways, Prince Bank, Prince Real Estate, Avis, Ford, Changan, RMA Group, KK Leasing, Chief Bank, RHB Bank, Sambat Finance, Rosewood, LM Car, Wow Now, Cambodia Express, Taiwan Cooperative Bank, Jinbei Resort, among others. It has strong and firmly established re-insurance support from A-rated global re-insurance companies such as Hanover Re, China Re, GIC Re, Labuan Re, PVI Re and Saudi Re.
MGA is one of the top 10 insurance brokerages in Australia with 30 offices and more than 250 personnel. MGA Asia is its first oversea joint venture partner and is a leading insurance brokers in Cambodia.
For over 35-years, MGA have been leaders in risk advice and general insurance and providing solutions for financial exposures for our customers and have broad access to all Australian and overseas Insurance markets including Cambodia’s, to ensure we deliver the right advice with experienced, qualified and professional insurance personnel.