Why Thai finance firms push AI as human oversight limits automation

Executives say machines cannot make final calls without review in key processes.

Thai financial institutions call for well-governed artificial intelligence (AI) to make operations secure and faster, as this can improve underwriting, reduce manual service contacts, personalise insurance engagement, support investment advisers, and make digital payments easier.

During a panel discussion moderated by Itthipat Limmaneerak, Partner, Technology Consulting – Data, AI & Analytics, KPMG, at the Asian Banking and Finance and Insurance Asia Summit 2026 in Thailand, executives from the finance sector said the immediate test is practical: use AI to remove paperwork, automate repetitive checks, improve frontline decisions, and respond faster to customers without allowing machines to make unchecked final judgments. 

For ShopeePay Thailand, simplification has already changed the credit journey. 

Chanitha Supavivat, Thailand head of Credit Business and Operations at ShopeePay Thailand, said its flagship credit products are digital from activation through collections. 

“We are not just making things easier, but we are fundamentally removing the traditional values,” she said, referring to paper-based loan processes. 

The company uses alternative data and AI to assess users within its ecosystem. 

Supavivat said ShopeePay can “grant a new loan to the new user within like five minutes,” provided the user passes KYC and underwriting rules. 

For identity checks, she said the firm uses AI and optical character recognition, adding that “more than 90% of our customers can get an instant decision.” 

That matters in a market where digital finance is already mainstream. 

The Bank of Thailand’s payment data indicators are now published monthly and track fund transfers and payments across channels, reflecting the policy focus on digital transaction flows. 

Thailand’s scam controls also show why automation cannot be separated from risk management: the Bank of Thailand required tiered online transfer limits, including THB50,000 for many users, depending on risk profile, after June 2025 scam cases caused $0.09b (THB2.8b) in losses.

In life insurance, the operational challenge is different. Montree Thirasakthanam, Executive Vice President and head of Technology and Innovation at Thai Life Insurance Company Limited, said life insurance remains harder to streamline than non-life products because underwriting and policy issuance require more information.

He said the target is to build an “instant policy insurance” capability, where “as soon start buying the policy, you start to be immediately responded to and achieve the policy.”

That ambition is relevant because Thailand’s life insurance market is still growing, but growth depends on persistency, renewal premiums, and customer relevance. 

In the first half of 2025, the industry recorded $10.14b (THB327b) in total premiums, up 4.87% year-on-year; new business premiums rose 7.38% to $2.94b (THB94.9b), renewal premiums increased 3.88% to $7.19b (THB232b), and the policy persistency rate was 82%, according to figures cited by the Thai Life Assurance Association.

Ocean Life Insurance Public Company Limited is applying AI closer to the sales and service journey. 

Ornusa Khowvadisai, Senior Vice President for Digital Transformation and acting Chief Operating Officer at Ocean Life Insurance Public Company Limited, said AI should benefit both customers and the company, especially in a business where the product is complex and relationship-based. 

“We don’t talk about what we face, but we talk about what can sustain the customer to be with us,” she said. 

Khowvadisai said Ocean Life has launched AI tools for salespersons to personalise customer engagement. 

“Sales version can use them or to know your customer more,” she said, adding that this reduces reliance on central analytics teams and helps frontline staff understand customers directly. 

She also pointed to payments as a key process, saying customers have already shifted behaviour: “Everybody uses QR code to scan the link to pay.” 

The discussion also showed that AI adoption is no longer limited to underwriting. 

A 2025 Roots report on insurance AI adoption found that common benefit areas include underwriting, claims processing, fraud detection, customer service, and risk assessment, with more than 80% of respondents identifying AI as a top strategic initiative for 2025. 

This aligns with the panel’s emphasis on using AI to reduce manual work, route exceptions, and improve service quality.

For Bangkok Bank Public Company Limited, the focus is on advisory quality. 

Cholathee Pornrojnangkool, Senior Vice President for Wealth & Private Bank at Bangkok Bank Public Company Limited, said wealth and private banking differ from lending because advisers must understand customer profiles, risk appetite, and financial needs before recommending products. 

“The better we know the client, the better we can offer the product and services to the client,” he said. 

He said the value of AI is in turning data into next actions, such as suitable products, portfolio adjustments, and model recommendations. But he cautioned that advice cannot be fully delegated to AI. 

“Human and AI have to be together,” Pornrojnangkool said. “We are not looking for faster response time or faster service, but we want to provide better service, and probably at a lower cost.”