System to help agents hone digital skills
published : 4 Aug 2021 at 04:00
The Thai Life Assurance Association (TLAA) is developing an e-examination and online learning system to help insurance agents refine their digital skills and survive in the era of social distancing.
Sara Lamsam, president of TLAA, said the association is maintaining its growth target for the industry in a range of -1% to 1% and expects to record total premiums received worth 590-610 billion baht, assuming the country s GDP growth is 1.5-2.5%.
Mr Sara said even though the industry grew by 3.13% year-on-year in the first half this year, first-year premiums from new regular customers (non-single premiums) dropped by 7.52% compared with the same period last year.
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SMK lashed over Covid termination
Insurance regulator to block termination of contracts with lump-sump payments
published : 17 Jul 2021 at 06:11 People flock to the Central Plaza Westgate in Nonthaburi on Friday for vaccination. (Photo: Chanat Katanyu)
Thailand s regulator warned Syn Mun Kong Insurance (SMK) on Friday that it cannot arbitrarily terminate Covid-19 insurance contracts with lump-sum payments, threatening legal action or fines if the insurer moves forward with its plan.
The Office of the Insurance Commission (OIC) said it will block the terminations if SMK fails to strictly adhere to all conditions stated in the contracts, according to OIC secretary-general Suthiphon Thaveechaiyagarn.
Total life insurance premiums grew 3.25% year-on-year to 196 billion baht in the first four months this year, thanks to 41.7% growth in single premiums requiring buyers to make a one-time payment.
Covid claims projected to pass B500m
published : 4 May 2021 at 04:00
2 Mr Anon says that some 100,000 new Covid insurance policies are filed on average per day since mid-April. Insurance companies still provide Covid insurance, as it can help people manage their risks. Apichit Jinakul
Total Covid-19 insurance claims since policies launched in March 2020 are expected to reach 500 million baht as of the end of April, spurred by a surge last month, says Office of the Insurance Commission (OIC) secretary-general Suthiphon Thaveechaiyagarn.
Total Covid insurance policies jumped by 3.15 million during April 1-22 to 13.8 million total policies as of April 22.
Total premiums received stood at 5.92 billion baht, while the accumulated value of claims is 195 million baht.