Safetynet

What Safetynet does

SAFETYNET is a privately held health insurance specialist founded in Singapore in 2015 by Edouard LESELLIER, a third-generation insurance professional, with operations launched in Cambodia in 2016. The group operates as SAFETYNET Insurance Service Pte. Ltd. (Singapore, group parent) alongside its Cambodian operating entity SAFETYNET Insurance Services (Cambodia) Co., Ltd., and is headquartered at 7500A Beach Road #12-323 The Plaza in Singapore, with its main operating office in the BRED Bank building on Norodom Boulevard in Phnom Penh. The company serves individuals, families, expatriates, businesses, NGOs, embassies, and government institutions in Cambodia through four core products: Family Health Protect (worldwide coverage with no age limit and minimal pre-existing-condition restrictions), Private Health Protect (affordable individual coverage), Business Health Protect (customized employee benefits), and Dynamic Care (flexible affordable plan, recently introduced). Members access care through a direct-billing network of approximately 250 partner hospitals in Cambodia and abroad, and policies are administered through three proprietary online portals (Claim Online, Hospital Online, Broker Agent Online) plus a Telegram chatbot for customer support. Reinsurance is provided by AXA and VYV, and from November 2025 the company's local insurance carrier partner is Dara Insurance Plc.; ASSURNET, a SAFETYNET Group entity registered in Cambodia, serves as the third-party administrator for claims management.

Revenue is generated through recurring annual premium subscriptions across the individual, family, and corporate product lines, with pricing quote-based on coverage tier, age, and family size. Distribution is sales-led via a 100% direct sales team (reorganized April 2020), complemented by a growing agent/broker channel with dedicated online portal management and brand partnerships (e.g., DJ Nana brand ambassador since July 2020). Major corporate clients include ABA Bank (6,000 employees covered since August 2020). As of June 2022, SAFETYNET reported approximately 20,000 members, 40,000+ cumulative medical claims processed, and a >95% claims approval rate; in March 2024 it disclosed a 98.5% customer satisfaction score. Market share in Cambodian health insurance premiums grew from 18% in 2020 to over 20% in 2021, with reported +40% growth that year.

Name

Safetynet

Legal name

SAFETYNET Insurance Service Pte. Ltd.

Website

https://safetynet-health.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

SAFETYNET is a Cambodia-focused health insurance specialist offering individual, family, and corporate plans through a network of approximately 250 partner hospitals, with worldwide coverage, no age limit, and direct-billing portals for claims and administration.

Ownership category

akta.pro rank

Headquarters

HQ city

Phnom Penh

HQ country

Cambodia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Annual Health Insurance Premiums: Recurring annual premium payments for individual, family, and group health insurance plans covering accidents and illnesses
2. Group/Corporate Health Insurance: Customized health insurance plans for businesses and institutions with tailored coverage for employees

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Safetynet is a health insurance specialist that designs, underwrites, and distributes a portfolio of health protection plans (Family Health Protect, Private Health Protect, Business Health Protect, and Dynamic Care) for individuals, families, and organizations in Cambodia. Policies are serviced through a partner hospital network of approximately 250 facilities and through digital self-service channels (member portal, hospital portal, broker portal, and Telegram chatbot), with reinsurance capacity provided by AXA and VYV.

Product overview

SAFETYNET Group is a health insurance specialist offering a portfolio of four core products: Family Health Protect (comprehensive family coverage with no age limit and worldwide protection), Private Health Protect (affordable individual coverage for accidents and illnesses), Business Health Protect (customized employee health benefits for companies and institutions), and Dynamic Care (flexible affordable health plan). All products provide direct billing through a partner hospital network and cover treatment worldwide, ranging from 'low' to 'high-end' international health insurance tiers.

Differentiator

Problem solved

Functional benefit

Brands

• SAFETYNET Family Health Protect: Health insurance product with worldwide coverage, no age limit, minimal restrictions on pre-existing conditions, direct billing through hospital network. Covers accidents and illnesses for families.
• SAFETYNET Private Health Protect
• SAFETYNET Business Health Protect
• SAFETYNET Dynamic Care
• ASSURNET

Products and services

• Family Health Protect Health insurance product designed for families in Cambodia, providing private health coverage and access to Safetynet's network of approximately 250 partner hospitals. Targeted at households seeking affordable family-wide medical protection.
• Private Health Protect Individual-focused private health insurance plan offering members access to Safetynet's hospital network and claims support, designed for individual consumers in Cambodia seeking personal medical coverage.
• Business Health Protect Group/corporate health insurance product providing employee health benefits for Cambodian companies and institutions, with named clients including ABA Bank, Intercare Hospital, and Techo Santepheap National Hospital.
• Dynamic Care Dynamic/on-demand health protection offering within Safetynet's product portfolio, providing flexible health insurance coverage to individual customers.

Quantifiable outcome

• Over 95% of claims processed and approved
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Intercare HospitalcoreTechnology or Integration · 10 June 2026Strengthened collaboration with Intercare Hospital to enhance healthcare services for SAFETYNET members
• Dara Insurance Plc. (Tara)coreStrategic or Co-development Partner · 1 November 2025New partnership started November 2025 where Dara Insurance and SAFETYNET collaborate to continue offering affordable health insurance accessible to all ages in Cambodia
• Techo Santepheap National HospitalcoreTechnology or Integration · 5 June 2024First health insurance provider to partner with Cambodia's leading public hospital, a cutting-edge medical facility serving 10,000 patients
• AXAcoreOthersWorld-class reinsurance partner with specialized health insurance expertise providing financial stability to SAFETYNET's coverage
• VYVcoreOthersWorld-class reinsurance partner providing additional financial backing and reinsurance capacity
• ASSURNETcoreTechnology or IntegrationThird Party Administrator (TPA) formally registered in Cambodia as part of SAFETYNET Group, handling claims management and administration
• ABA BankcoreGTM or Marketing PartnerMajor corporate client protecting 6,000 employees across Cambodia with SAFETYNET health insurance
• National Social Security Fund (NSSF)minorOthersPublic health insurance scheme in Cambodia based on employment; SAFETYNET operates alongside NSSF for supplementary coverage
• Insurance Regulator of Cambodia (IRC)minorOthersSAFETYNET supports IRC activities and celebrated IRC becoming AFIR member in July 2025

Scale indicators11 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Prudential Cambodia: Large composite life and health insurer operating in Cambodia with a multi-channel agency and bancassurance model. Directly competes with SAFETYNET for group and individual health plans but offers health as part of a broader product set.
• Manulife Cambodia: Major composite insurer providing life, health, and group benefits in Cambodia. Competes on corporate group health and individual medical plans against SAFETYNET's Business and Family Health Protect products.
• FWD Group: Pan-Asian composite insurer with life and health offerings across Southeast Asia. Comparable on regional health-insurance product set and digital distribution, though broader than a health-only specialist.
• AIA Cambodia: Composite life and health insurer active in Cambodia. Competes in the same individual and group health segment as SAFETYNET, leveraging an established agency force and bancassurance partnerships.

Direct peers

• Bupa Global: Health-insurance specialist offering international and expatriate-focused cover in Asia, including in markets like Cambodia. Closely comparable in positioning as a health-only insurer with worldwide treatment and direct-billing hospital networks.
• Cigna Global Health: Global health insurance specialist serving individuals, families, and corporate clients in Asia. Comparable to SAFETYNET on international health cover, direct billing, and expatriate segment focus.
• Allianz Care: International health insurance specialist serving expatriates and globally mobile customers in Asia. Comparable in product scope (worldwide cover, direct billing hospital networks) and corporate group health offering.
• April International: International health insurance specialist operating across Asia. Comparable in positioning as a health-only insurer with modular plans, pre-existing condition handling, and corporate group health offerings.

Regional players

• Pacific Prime: Asia-focused insurance broker specializing in health insurance distribution and advisory across Southeast Asia. Operates in Cambodia-adjacent markets and competes indirectly with SAFETYNET for expatriate and corporate health clients.

Others

• AXA (Cambodia and Asia Health): Already a core reinsurance partner of SAFETYNET (AXA) and a global health insurance operator in the region. Comparable both as a potential competitor for end customers and as a strategic counterparty whose terms directly affect SAFETYNET's capacity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@safetynetCambodia
• Facebookfacebook.com/safetynetcambodia
• LinkedInlinkedin.com/company/safetynet-cambodia

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Safetynet