Ly Hour SBI Insurance board member and chief executive officer Okhna Ly Sopheap said in an interview with Cambonomist, that despite facing a series of global challenges, the Cambodian insurance sector is still able to stand strong and play a significant role in helping to develop the economy.
Although the insurance sector has played a significant role in helping to develop the economy, Ms Oknha said that some citizens still do not have much understanding and use of services in this sector because they believe that any problem or accident will not easily happen to them, which is a challenge that hinders the development of the insurance sector in Cambodia.
She stated that the most supported services currently are vehicle insurance, health insurance, and personal accident insurance. In fact, he noted that in 2024, compensation payments to customers have increased compared to previous years, demonstrating the company’s growing contribution to improving the economy for its clients.
To further develop Cambodia's insurance sector, she explained that Ly Hour SBI Insurance has introduced new technologies to the country. The company also consistently engages in training and knowledge-sharing activities with stakeholders in the insurance industry.