Thailand

The company said it cannot pay all the claims for all of its COVID-19 policies.

The government has also opened its hotel isolation facilities for tourists.

This is due to a weakened economy with higher household debt.

Ratings firm AM Best, however, cautions insurers to be careful of underwriting risks.

They aim to create a seamless and personalised experience for customers.

Investors in the round include Tencent, SCB 10X, Vertex Growth.

COVID-19 claims in the country have jumped ten times since last year.

Growth is expected to recover from 2022 onwards and will witness an upward trend.

But overall new car sales dropped 18.4%.

Its balance sheet is supported by strong risk-adjusted capitalisation.

Whole life plans drive the sector, accounting for 72% of premiums in 2020.

CEO Rattapol Gitisakchaiyakul reveals the driving force behind the idea.

Capital bonds as alternative funding may boost sector capital adequacy.

Three insurers will provide different coverage.

These projects and the company’s “Know You Can” campaign landed it two wins in the Insurance Asia Awards. Krungthai-AXA Life (KTAXA) has received both the Digital Insurance Initiative of the Year - Thailand and Marketing Initiative of the Year - Thailand in the recently concluded Insurance Asia Awards for their applications AdvisorZone and Perfect Advice, as well as their “Know You Can” campaign. “We are immensely proud and humbled that our digital and marketing expertise has been recognised by leading industry experts from all across Asia,” said Krungthai-AXA Life’s CEO Sally O’Hara. “This acknowledgement is testament to our wonderful and committed staff and their dedication to providing a seamless journey for our customers,” she added. The recognition Krungthai-AXA Life has been attaining every year in these awards across various categories is said to have demonstrated the company’s steadfast commitment to innovation, sustainability, and payer-to-partner ambition. Some of the company’s digital and marketing expertise successfully launched this year include telemedicine, telehealth, and digital remote selling. In an interview with Insurance Asia magazine, O’Hara tells us how these projects have helped them win the prestigious trophies and shares the company’s plans for the future.

The motor insurance market will fall 6%.