Wednesday, May 27, 2015

Charles Cheo, CEO of FORTE Insurance spoke about the GBFA award at his new office in Vattanac Tower

Forte Insurance has continued to be Cambodia’s leading insurance firm for the last 12 years, guiding and shaped the industry. Now, after winning the 2014 Global Banking & Financial Review award for “best insurance company in Cambodia,” Forte has cemented their legacy as the industry leader. We met up with CEO Mr Charles Cheo to learn why Forte has been so successful.

How has being awarded Cambodia’s best insurance company fulfill and validate the role Forte plays in Cambodia’s growing insurance market?

The GBFA award is a reflection of our faith in Cambodia; when we first arrived in 1999, we believed that there was great potential in building the Insurance sector here. At the time we brought with us a clear set of values that was to underpin who we are. First was quality of service and innovation of product. As a General Insurer Forte can provide cover for a multitude of insurance risks, every year we launch more specialized products.

Secondly, we understood early on how to get the best from our people, through nurture and encouragement and educating them with internationally recognized qualifications. Chances are if you meet a qualified insurance professional today in Cambodia, they were once part of our team.

Finally create a culture of family, a sense of being part of something special. 16 years later many of our original team are still with us and now we employ an international team of some 120 staff from USA, UK, Singapore, China, Japan and of course Cambodia, we are partners with some of the worlds leading insurers and now we are recognized internationally as Cambodia’s best.

So yes there is a great deal of satisfaction when we look back at all we have achieved.

What aspects of the company led to being given this award?

Like any successful business we must have a clear vision, what we want to achieve and how we get there. Then there is the team, having the right people means you can innovate, develop and grow; this has led to the evolution of everything we do.

Products are important, having a comprehensive range that fits the customer’s needs effectively is essential; also equally important is the service behind that product. Insurance is a promise to protect the things that are dear to us. An example of this is our “RED Team,” which stands for Rapid Emergency Dispatch; if one of our clients is involved in a car accident within major cities, the RED Team’s task is to be on site with the client within 30 minutes. This service is only available through Forte Insurance and has been a massive relief for many clients who have been involved in an accident since its inception in 2013.

How would you describe the international standards Forte brings to Cambodia?

Our goal is to bring international best practice and highest standard of service, equal to any insurance company anywhere in the world. We constantly involve our International Partners in providing training and support to our team. We are the first Cambodia Insurance Company to introduced ACII and AMII accreditations which are recognized worldwide. Our mix of local and international staff brings knowledge, skills and new ideas; this has helped foster an understanding of local and international values, key when you are working with multicultural clients.