Shaking up the insurance industry, ‘Thaivivat’ goes one step further, bringing AI to reach consumers. Meeting the needs of insurance customers in the 2024 era

Shaking up the insurance industry, ‘Thaivivat’ goes one step further, bringing AI to reach consumers. Meeting the needs of insurance customers in the 2024 era

Thaivivat Insurance, the leader in “InsurTech”, operates the business of general insurance. Continuously developing insurance products and services for more than 72 years, committed to bringing technology to develop and create new innovations. Both products and services Hoping to create stable insurance To improve the quality of life of Thai people to be better than before. Under the concept “Think for every life” to fulfill life and a sustainable future for customers.
Thaivivat Insurance It is the first insurance company to launch an open-close car insurance plan. By using IOT technology to calculate insurance premiums based on actual usage. that is fair to consumers Have Active Health health insurance. The more you exercise, the lower the premium. Travel insurance is open and closed. Flexible for every trip. Pay the premium according to the actual travel date. It is also a leader in AI Solutions to meet the needs and provide even more customer service.

Recently, Thaivivat joined as one of the Showcase at AI Solution 2024. Mr. Theppan Assavathanakul, Deputy Managing Director of Thaivivat Insurance Public Company Limited, said, “Currently, Thailand There is a huge growth opportunity in AI technology. Especially in the insurance business That will help answer the lifestyle needs of consumers from purchase, usage and claims to support each step.
With the desire for Thai people to have more access to insurance From the comparison ratio, insurance access for Thai people is only 1-2% of GDP. If compared to leading countries with access rates as high as 10-20%, there is still an opportunity to make Thai people have more access to insurance products. climb Therefore, it is the reason for bringing AI technology is used to develop products to meet consumer needs (AI Solution) and the needs of individual consumers. (Personolized) Therefore, the company MARS DeepTech Start up was founded, specializing in AI experts to develop products specifically.

For example, the use of technology in car insurance products such as “open-close car insurance” that better meets the needs of insurance buyers. Help buyers buy car insurance Reduce insurance premiums by up to 80% by using Computer Vision and Deep Learning to inspect your car’s condition before insuring. And when there is a claim, Deep Vision can be performed, making the repair faster and more efficient. Can analyze car parts Convert car images to analyze more than 100 pieces with precision. Both calculate the duration and cost of repairs. From taking 5-10 days to just 5-10 minutes, you can apply for insurance. You can check the condition of your car right away.”

These are examples of the use of technology in the insurance business. That helps answer both the needs of reaching more insurance buyers. and help insurance buyers have a variety of options More responsive to the lifestyle needs of each individual and help insurance holders reduce costs From the efficiency of AI technology that plays an increasingly important role.

However, Mr. Theppan continued that From the introduction of technology in the past 5 years with open and closed car insurance. which is the star product Make it more convenient for consumers From being used only in the Bangkok-metropolitan area Expanded to all over the country Insurance policies have tripled in size. The renewal rate is as high as 90%. It can be seen that AI makes the service better than before. Customers will have easier access to use. Better performance

In addition, the company has also developed open and closed car insurance. Options for EV car insurance so that people who use EV cars can access cost-effective insurance premiums. and convenient to use Including booking private parking through the application. Collaborate with various shopping centers more thoroughly as well
Thaivivat Insurance As a non-life insurance company that has successfully used AI in its business operations, we are still committed to bringing out-of-the-box ideas for continuous development. For the goal of improving the quality of life of Thai people.