YAMA Win­ner 2015 - Ou­damsoriya Hun

HER WIN­NING IS NOTH­ING SHORT OF HARD WORK. MII SPEAKS TO OU­DAMSORIYA HUN, THE HEAD OF LE­GAL AND COR­PO­RATE IN­TEGRITY OF PRU­DEN­TIAL CAM­BO­DIA TO KNOW MORE ABOUT HER SUC­CESS.

Insurance - - CONTENTS -

What does it mean to be named the Re­cip­i­ent of this year's award?

Back in 2010, I at­tended the AYIM (ASEAN Young In­surance Man­ager) Pro­gram in the Philip­pines where I learnt that YAMA was a fo­rum for the ASEAN tal­ents award and a Cam­bo­dian was once granted such an award in 2006. It was my dream to be such an am­bas­sador for the in­surance in­dus­try in Cam­bo­dia.

When I was se­lected as one of the fi­nal­ists, I fur­ther com­mit­ted my­self as it was not only for my own ben­e­fit, but rather for my nascent in­surance in­dus­try as well. I firmly un­der­stood that win­ning this award would lift up the rep­u­ta­tion of the Cam­bo­dian in­surance in­dus­try and also serve as a re­minder to all the tal­ents and youth to­day to com­mit to ex­cel­lence, and en­hance both knowl­edge and knowhow to con­trib­ute to the im­prove­ment of the in­dus­try.

I firmly un­der­stood that win­ning this award would lift up the rep­u­ta­tion of the Cam­bo­dian in­surance in­dus­try...

It’s also a tes­ta­ment of the ef­fort to build the in­surance in­dus­try to a full-fledge stage like other coun­tries. This is a real na­tional pride and prize. I think I feel a real deep need to rep­re­sent Cam­bo­dia and maybe in a way, catch the lo­cal’s at­ten­tion to learn from my suc­cess model. I feel proud of the fact that I was se­lected by a panel of judges from var­i­ous in­surance in­dus­try rep­re­sen­ta­tives in ASEAN who be­lieved that I can be one of the cat­a­lysts to bring lo­cal tal­ents to the same page.

What is your ad­vice to the fu­ture young lead­ers/ man­agers of the in­dus­try?

Vi­sion and goal-set­ting

We must have a clear vi­sion of the end state we are try­ing to achieve be­fore we take ac­tion to reach our goals. We need to have a clear men­tal im­age of who and where we will be in the fu­ture. It is a “pic­ture” of what we as­pire to and be in­spired by.

In­no­va­tive and cre­ate op­por­tu­nity

We need to pur­sue new ini­tia­tives and chal­lenge our­selves to cre­ate op­por­tu­ni­ties. Don’t just wait for the op­por­tu­nity, cre­ate one and go for it.

One of the pri­mary char­ac­ter­is­tics of this new 21st cen­tury man­age­ment is its em­pha­sis on in­no­va­tion man­age­ment. We need to be in­no­va­tive and cre­ative on how we work and serve the cus­tomer. This in­cludes dig­i­tal­i­sa­tion and prod­uct R&D to pro­vide a so­phis­ti­cated process and tool for sus­tain­ing and ac­cel­er­at­ing busi­ness growth while bring­ing high class tech­nol­ogy and ser­vices to the mar­ket.

Main­tain per­se­ver­ance and con­tin­u­ous pro­fes­sional de­vel­op­ment

I would en­cour­age the young lead­ers/man­agers of the in­dus­try to keep your­self up­dated with the ad­vance­ment of the in­surance in­dus­try to reach your fullest po­ten­tial, not only within your own country but in a broader per­spec­tive across the re­gion, in ref­er­ence par­tic­u­larly to fully un­der­stand and be ready for the AEC in­te­gra­tion. You should ac­tively par­tic­i­pate in re­gional plat­form to ex­change idea and ex­pe­ri­ences with other in­surance prac­ti­tion­ers to stay on top of the game.

How do you see your­self in the ar­eas of per­sonal con­tri­bu­tion to­wards the in­dus­try in the next cou­ple of years?

I am in a po­si­tion to re­ally con­trib­ute to the in­surance in­dus­try and I will con­tinue my mis­sion even more ac­tively; this en­gage­ment will be clearly shown in my ca­pac­ity as a YAMA win­ner. I will be a role model and a YAMA am­bas­sador to bring in­spi­ra­tional mes­sage to other tal­ents and youth in the in­dus­try to shape their ex­per­tise.

As a nearly 10-year vet­eran of the in­surance in­dus­try, I’ve so far ei­ther di­rectly or in­di­rectly been pro­vid­ing a help­ing hand to the in­dus­try to a cer­tain ex­tent. I ex­pect to en­gage more pro-ac­tively on any is­sues aris­ing from or rel­e­vant to the in­dus­try.

In the ca­pac­ity as a Head of Le­gal, I be­lieve I will be able to con­trib­ute more to the in­dus­try par­tic­u­larly on the le­gal and cor­po­rate gov­er­nance. As a part-time trainer at the Malaysian In­surance In­sti­tute (MII), I can con­tinue to share, men­tor and coach the lo­cal peo­ple on in­surance and le­gal knowl­edge, know-how’s, and prag­matic ex­pe­ri­ences for a skilled pool and dy­namic work­force de­vel­op­ment.

As a qual­i­fied lawyer spe­cial­is­ing in in­surance, I will be able to pos­i­tively in­flu­ence peers from the le­gal pro­fes­sion with aware­ness and en­force­ment of in­surance. The pur­pose is to have more le­gal coun­sels spe­cial­is­ing in in­surance to re­ally pro­vide valid ad­vices for the in­dus­try in terms of consumer pro­tec­tion and fair com­pe­ti­tion, etc.

Can you tell us about your ed­u­ca­tional and pro­fes­sional back­grounds?

I have been in the in­surance in­dus­try for al­most 10 years, it is my first job af­ter grad­u­a­tion. Back in 2006, I was em­ployed at a lo­cal gen­eral in­surer where I be­came the claim man­ager in charge of both claims man­age­ment and le­gal works. In 2012, I joined Pru­den­tial (Cam­bo­dia) Life As­sur­ance PLC. as a Man­ager of Le­gal & Com­pli­ance and sub­se­quently, a Head of Le­gal and Cor­po­rate In­tegrity. I can con­firm that I am now the first lawyer spe­cial­is­ing in in­surance in Cam­bo­dia.

On top of that, I am cur­rently a lawyer for a lo­cal law firm and also a reg­is­tered part-time in­surance trainer for As­so­ci­a­tion of In­surance in Cam­bo­dia in co-op­er­a­tion with the Malaysian In­surance In­sti­tute (MII) to pro­vide in­surance train­ing to the lo­cals wish­ing to pur­sue a glob­ally-recog­nised pro­fes­sional course in In­surance.

As for my ed­u­ca­tional back­ground, I was ad­mit­ted as a li­censed lawyer to the Bar As­so­ci­a­tion of Cam­bo­dia and com­pleted my le­gal study both LL.B. and LL.M. spe­cial­is­ing in pri­vate law at the Royal Univer­sity of Law and Eco­nom­ics. I am also an As­so­ciate of Malaysian In­surance In­sti­tute (AMII), and As­so­ciate of Char­tered In­surance In­sti­tute (ACII), UK. I am also a Se­nior As­so­ciate and Cer­ti­fied In­surance Pro­fes­sional [ANZIIF (Snr CIP)] of Aus­tralian and New Zealand In­sti­tute of In­surance and Fi­nance and a mem­ber of As­so­ci­a­tion of Cer­ti­fied Fraud Ex­am­in­ers.

Cur­rently, I’m pur­su­ing Life Cer­tifi­cate of the Life Of­fice Man­age­ment Ad­min­is­tra­tion (LOMA), a US Life In­surance Pro­fes­sional Pro­gram.

Cam­bo­dia’s GDP in the last two decades grew at an an­nual av­er­age rate of 7.7 per­cent, which is the sixth-fastest in the world...

Who have in­flu­enced you most in your life?

The great­est in­flu­ence in my life is my mother. She is a great role model and I re­ally ad­mire her hard work, com­mit­ment and fi­nance man­age­ment/sav­ing in the fam­ily even with her low in­come. She is an orphan who fin­ished Grade 4 in el­e­men­tary school and was a fac­tory worker with low wages, but she tried to sup­port the whole fam­ily of four chil­dren. She is nei­ther a Ph.D. holder nor any prac­ti­tioner, but her hard life and sound ad­vices re­ally in­stilled in me the val­ues of hard work, per­se­ver­ance, hon­esty and the im­por­tance of striv­ing for ex­cel­lence. She al­ways chal­lenges and en­cour­ages me to aim higher and higher to have a far bet­ter life. Be­cause of her love, af­fec­tion, kind­ness, de­vo­tion, ded­i­ca­tion and self-sac­ri­fice, I be­come who I am to­day – a qual­i­fied lawyer and head of le­gal of a lead­ing multi­na­tional com­pany. I am thank­ful and blessed to have had some­one like her to al­ways in­spire me for my suc­cess and en­deav­ours.

What is your vi­sion for the Cam­bo­dian in­surance in­dus­try?

The un­tapped life in­surance in Cam­bo­dia has sub­stan­tial po­ten­tial for growth due to the young pop­u­la­tion and ro­bust eco­nomic de­vel­op­ment. Cam­bo­dia’s GDP in the last two decades grew at an an­nual av­er­age rate of 7.7 per­cent, which is the sixth-fastest in the world dur­ing the pe­riod of 1993-2013, mak­ing its GDP per capita hit­ting US$1,035 in 2013. This has re­sulted in the fast grow­ing and large num­ber of Cam­bo­dian mid­dle class. Fur­ther, the av­er­age an­nual growth rate for the in­surance sec­tor in Cam­bo­dia stands at 20.2% leav­ing more room to grow. It is be­lieved that the growth trend is set to con­tinue. The in­dus­try will de­velop fur­ther and at­tain pro­por­tions that will en­able the in­dus­try to con­trib­ute in the eco­nomic de­vel­op­ment and GDP growth.

In spite of the sig­nif­i­cant growth, and if com­pared to other ASEAN coun­tries the pre­mium is still a small pro­por­tion and the pen­e­tra­tion rate is rel­a­tively low. How­ever, I could see the out­ward-look­ing of ASEAN in­surance in­dus­try play­ing a piv­otal role in the in­ter­na­tional foray, and ad­vanc­ing ASEAN’s com­mon in­ter­est .i.e. AEC.

The lo­cal stan­dard mar­ket will be raised, the value of the lo­cal tal­ents will be en­hanced, and cus­tomers will en­joy bet­ter ser­vices. The dig­i­tal­i­sa­tion and prod­uct R&D with the so­phis­ti­cated process and tool will en­hance the mar­ket with high class tech­nol­ogy and ser­vices like other ASEAN coun­tries.

I am op­ti­mistic that the le­gal frame­work for in­surance will be fur­ther de­vel­oped to pro­vide more pro­tec­tion to the con­sumers and the in­dus­try stake­hold­ers, cre­ate fair com­pe­ti­tion and en­sure sus­tain­able growth of the mar­ket­place. On top of that, the in­surance reg­u­la­tors and for­mal in­surance in­sti­tutes will be es­tab­lished to strengthen the pro­fes­sion­al­ism and se­cure the im­age of the in­dus­try. All of th­ese will ben­e­fit from the re­form-minded govern­ment and greater reg­u­la­tory over­sight.

Given the grow­ing size of the busi­ness, to­gether with the ris­ing cor­po­rate gov­er­nance stan­dards, I truly be­lieve that this emerg­ing sec­tor will con­tinue to present at­trac­tive in­vest­ment op­por­tu­nity and be­come one of the back­bones of the econ­omy.

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