New IGP Partner in Cambodia Sovannaphum Life
Multinational pooling network IGP in May 2021 announced a new partner in Cambodia, Sovannaphum Life Assurance.
Sovannaphum Life Assurance (SVL) is a joint venture between Canadia Investment Holding, the owner of Canadia Bank, and Muang Thai Life Assurance, IGP’s partner in Thailand. The company was granted full license as a life insurance Company by Ministry of Economy and Finance of Cambodia in December 2015 and started operations in 2016.
SVL develops products and services to fulfill the specific needs of Cambodian customers, including Group Benefits. It currently offers two primary group products:
- Group Life Insurance, which includes:
- Disability Insurance TPD Rider
- Hospital Daily Benefit Rider
- Critical Illness Cost Protection Rider
- Group Life Accident Protection, which includes:
- Accidental Death
- Dismemberment, or Loss of eyesight, Hearing or Speech
- Total Permanent Disability Benefit (TPD) Caused by Accidents
- Medical Expense Benefit can be added as a rider
All group coverages listed above can be included in IGP pools.