CIMIA launches insurance quote platform

Cambodian Investment Management Insurance Agent (CIMIA), a subsidiary of Cambodian Investment Management, plans to launch today an insurance quote system allowing users and potential clients to get immediate access to details on an array of insurance products. By providing basic information on the online platform, users will be able to receive quotes for health, automobile, fire and travel insurance. With this online platform, the quote process can be shortened from days when requested offline to mere minutes. Anthony Galliano, CEO of Cambodian Investment Management, described the launch of the platform as another milestone for Cambodia’s insurance industry as this type of quote system is prevalent globally and is becoming a preferred tool for consumers. He expects the consumer market to begin to embrace insurance since presently the market in Cambodia is approximately 85% corporate and 15% consumer. According to the CEO, currently CIMIA is partnered with one local general insurer and plans to add a life insurance company. The profit model for the platform is commission-based, relying on users to take out policies, he added. (Source: Phnom Penh Post)