ThaiSri Insurance scales up business for digital age
- ThaiSri Insurance combines 65 years of local experience with the international expertise of ERGO, the primary insurance arm of the Munich Re Group
Country Business Reports interviews and articles by Discovery Reports www.discoveryreports.com
Purchasing an insurance policy has never been so easy. From motor and home to personal accident and health insurance, ThaiSri Insurance is delivering products at the touch of a button.
“We’ve reengineered our processes to incorporate technology so we can respond faster to customers and work more efficiently as we scale up our business,” says director and CEO Karan Chopra. “This allows us to offer customers a better service proposition as well as a lower price point.”
ThaiSri Insurance combines 65 years of local experience with the international expertise, best practices and support of ERGO, the primary insurance arm of the Munich Re Group.
ThaiSri Insurance has introduced a digital sales platform, which agents, brokers and company staff can access 24/7 to expedite the issuance of insurance policies. Quotations can be generated quickly as customers or agents can simply upload the photographs of subject vehicles online. Sales channels also have access to policy renewal information on the sales platform for speedy renewal of cases.
Such automation enables the company’s sales partners to issue insurance policies in minutes, even on weekends.
On the motor claims side, the company has equipped its staff with a mobile tablet application that efficiently allocates them to the nearest accident site to process claims onsite. In the next phase of development, the company plans to link this application with its garage network so that claim information can be seamlessly transferred to the preferred garage ahead of the vehicle.
Being part of the ERGO network, the company has access to international expertise and best practices, with technology initiatives and strong bancassurance capabilities on the product side. ThaiSri Insurance is also keen on establishing partnerships with banks, finance companies and vehicle manufacturers.
“We have an appetite for growth and are open to investing in and developing long-term partnerships,” Karan says. “Being digitally enabled, we can work with distribution partners to provide a world-class customer experience tightly integrated with our partner’s core product delivery process.”