Mr Youk Chamroeunrith, Group CEO of Forte Group, represented Cambodia for the 6th ASEAN Inclusive Business Summit, alongside other awardees from across the region
Bali, Indonesia: Forte, the leading insurance company in Cambodia, has been awarded as Cambodia’s Best Inclusive Business Company 2023 at the Sixth ASEAN Inclusive Business Summit, representing Cambodia on the ASEAN Stage along with the Ministry of Industry, Science, Technology & Innovation (MISTI). This prestigious event was held from recently in Bali, Indonesia and organized by the Ministry of Cooperatives and SMEs, Indonesia.
Forte’s recognition as an inclusive business is attributed to its impact in driving the growth of agriculture and health insurance in Cambodia. Inclusive businesses are defined as profitable enterprises that also support communities with limited financial means, creating positive social impact in an innovative way. Forte’s Weather Index Crop insurance (WICI) has played a crucial role in supporting Cambodia's agriculture industry by ensuring financial security for farmers. As the country’s main provider of agriculture insurance since 2014, Forte provides coverage for losses resulting from natural disasters such as droughts or heavy rainfall.
Through strong partnerships with the Cambodian government, microfinance institutions, and various organizations, Forte is paving the way towards inclusivity by supporting sustainable agricultural practices and financial protection for vulnerable local communities. Forte actively collaborates with the farming community to enhance their expertise in aquaculture insurance and supports the growth of vital crops such as rice, mangoes, maize cashews, and rubber. Forte also aims to empower these communities by providing them with access to financial protection in the event of unforeseen circumstances.
Our video about Weather Index Crop Insurance was being displayed on ASEAN stage
Mr Youk Chamroeunrith, Group CEO of Forte Group, graciously accepted the award on behalf of Forte at the ASEAN Inclusive Business Awards 2023 ceremony. “We are incredibly honored to have been awarded Cambodia's Best Inclusive Business Company this year and sincerely grateful to the ASEAN Inclusive Business Awards for acknowledging our endeavors. This accolade serves as a testament to Forte’s commitment to ensuring financial security for people at all levels of society and empowering everyone for a better future. We are privileged to represent Cambodia on the ASEAN platform and wish to extend our heartfelt gratitude towards our employees, partners and customers for their continuous support,” he said.
Mr. Youk Chamroeunrith, Group CEO of Forte Group, receiving Cambodia's Best Inclusive Business Company Award 2023
“This recognition has further fueled our determination to continue working towards enhancing the accessibility and affordability of insurance services in Cambodia and Laos. We firmly believe that everyone deserves a safety net, and we remain steadfast in transforming that belief into reality,” Mr Youk Chamroeunrith added.
Mr Youk Chamroeunrith, Group CEO of Forte Group, Mr Prou Sythan, CEO of Forte Life Assurance, Mr Ny Lyhoung, Head of Micro and Agriculture Insurance unit and Dr Touch Chandara, Senior Manager of Group Underwriting at Forte General Insurance