THAILAND
INSURANCE
INDUSTRY
1 week duration
June 2021
In collaboration with
OneDegree
Summary:
The study aims to understand the perception, ownership, and preferences of the Thai population toward the insurance industry.
The Method Research was assisted by the InsureTech company OneDegree in the survey design of the research.
5 Min Read
Digital Survey
1. ZOOM ON THAILAND
Cover every need to insure growth.
Despite a COVID-19-driven economic contraction in 2020 in Thailand, the country's insurance market still managed to expand, driven by strong growth in the health segment, according to a new AM Best report.
Health insurance, which has grown steadily in recent years, posted a 44% expansion in 2020, with the spike in demand underpinned by increasing health awareness in light of the pandemic. Motor insurance, which is the largest line of business and accounts, grew by 1.4%.
Government-imposed COVID-19 containment measures have catalysed digitalisation and innovation in Thailand’s insurance industry, as companies jostle for a share in the kingdom’s highly competitive and developing insurance market.
The digital transformation of the insurance segment can help to raise operational efficiency, diversify distribution, as well as strengthen product development and pricing capabilities.
TO GO FURTHER
The purpose of this lite research, is only to showcase work sample. For more respondents, insights or questions about our methodology, please contact:
The Method Research
