Thai Business Excellence Awards 2018

18 APAC INSIDER / Thai Business Excellence 2018 , to support their clients, which is Bangkok Insurance’s ongoing focus. The firm’s philosophy is to be “Your Caring Partner”, a unique corporate culture which has been incorporated deeply in every staff’s mind. This concept means that everyone has to consider and make a decision in customer’s viewpoint, not insurer’s viewpoint, so that staff will be able to understand the needs and expectations of customers and deliver services precisely what customers want. All Bangkok Insurance’s staff have deeply committed to this concept and carry it out accordingly. Going forward, the most obvious development within the Thai business market is the rise of digital marketing, prompting Bangkok Insurance to emphasize seriously in developing company’s own digital platforms. New digital division fully taking responsibility of sales and marketing via this channel has already been established, and digital-expertise staffs have also been employed. Leading Insurance Providers 2018 – Thailand & SE Asia Excellence Award for Insurance Solutions 2018 Bangkok Insurance PCL is a pioneering insurance company supporting a wide range of clients across Thailand. We profile the firm to provide a fascinating insight into its work and how it achieves success for each and every one of its valued clientele. Having been in business since 1947, serving the nation with a comprehensive palette of products and services, today Bangkok Insurance is one of Thailand’s premier non-life insurance companies. Thanks to its customer-centricity and equipment of world-class technology, the company has established a solid reputation that underwrites its continued expansion. Known for its integrity which is highlighted by the fact that the firm has received the Royal Garuda Emblem, Bangkok Insurance was an early adopter of a comprehensive corporate governance mechanism that aims to increase transparency and take into consideration the interests of all stakeholders, investors, policyholders, staff, and the wider community. This has enabled the company to deepen its long-standing commitment to excellence in the delivery of its services. In terms of financial stability, S&P has maintained the company’s financial creditability at A- (Stable) and Outlook stable since January 2017, reflecting the financial strength and trustworthiness of BKI. Also, the Total Capital Available (TCA) of the Company under the Risk-Based Capital (RBC) Framework is nearly 44,000 million baht, which is ranked highest among insurance companies listed in the Stock Exchange of Thailand. Additionally, Bangkok Insurance has led its industry in innovation over the years. The company was the first to introduce novel services such as an insurance web portal and the BKI iCare application for smartphones, which enhance user experience and convenience. The Company has also devoted itself to increasing the quality of underwriting and claim services by innovating tools such as BKI Escard and e-Policy, which is not only convenient for the customers, but also saves environment by the use of paperless. Moreover, Bangkok Insurance introduced policies tailored to the needs of specific demographic segments to serve the company’s strategic direction in respect of regional business expansion where each region has its own unique challenges. There are many benefits for businesses based in Thailand which Bangkok Insurance works to take advantage of. Thailand enjoys a location as a gateway into the heart of most ASEAN countries e.g. Myanmar on the west, Cambodia and Lao PDR on the east, and Malaysia, Indonesia, and Singapore on the south. Therefore, this makes it easier for Thailand’s insurers to expand their business to many ASEAN countries without the obstacle of long distance, especially emerging and fast growing market like Cambodia, Laos, Myanmar and Vietnam. As such, the firm utilises a collaborative approach, not only with clients and industry peers, but also internally. This helps them TBE18007