TQM Insurance Broker Co Ltd, a telesales-focused insurance seller, aims for insurance premiums to grow by 8% this year, supported by a customisation strategy centred on motor insurance for female drivers.
Such growth would mean total insurance premiums worth 11 billion baht.
TQM has more than 15 million customers, including those from digital channels and social media, and this will help drive the 8% growth target, said president Unchalin Punnipa.
Mr Unchalin said the insurance industry faces several challenges this year, including digital technologies that could disrupt the industry and transform the insurance businesses, so the company will prioritise a customer-oriented strategy.
"We will serve the customised need of different segments such as motor insurance for ladies, which was launched last year, and the salaried person segment, which was launched two years ago," he said.
Mr Unchalin said the service channel must be prepared for both offline and online channels to serve customers 24 hours, including checking insurance premiums online and insurance suggestions via online chat.
For 2017, TQM reported total insurance premiums of 10.15 billion baht, up 7% year-on-year, contributed by motor insurance (7.85 billion or 77%), non-motor (1.41 billion baht or 14%) and life insurance (890 million baht or 9%).
Chief executive Napassanun Punnipa said women are the segment that the company is targeting because women outnumber men by 1.7 million in Thailand's population.
"Women are the theme that the company is focusing on this year," Mrs Napassanun said. "The theme 'For Ladies' will be launched gradually, starting from motor insurance products and followed by personal accident, health, home and cancer, as examples."
TQM's For Ladies offering, which has launched in its second version, provides higher protection covering cosmetic surgery in the event of a car accident, with a limit of 1 million baht.
Nualphan Lamsam, president and chief executive of Muang Thai Insurance, said the TQM's For Ladies lets policyholders seek cosmetic surgery in South Korea, a well-known hub for such procedures.
The motor insurance also covers valuable assets such as handbags, phones and notebook computers damaged in a car crash or stolen in an auto theft.
The first version of the insurance product received premiums of 100 million baht last year. The expectation is that this year's will reach 200 million baht.
