2015 Life Insurance
Industry Trend
85 Bangkok Life Assurance PCL.
ANNUAL REPORT 2014
healthy food providers to promote the wellness program will likely increase. In addition, the life insurance companies
also have the technological development to increase efficiency quality of services by offering 24-hour service mobile
applications. Moreover, the customer can contact life insurance companies via emails, web chat, automatic call centres,
which are more efficient channels than the traditional ones. The expectation in services will set many challenges since
the customers are able to swiftly share influential information in the online community.
4. Management : Life insurance companies will emphasize more on customers and become more customer-centric to
increase customer loyalty to the brand and to respond to the changing behavior. At present, Thai people have more
knowledge about financial planning and life insurance, and request more information on products and services before
making their decisions. Therefore, customers tend to consume information and use services through multiple channels.
The Company must prepare to integrate services and information so that all service points have uniform and consistent
service quality.
5. Regulations : There are system developments and improvement on all aspects to comply with the standard
regulations, which will be more stringent, especially related to the financial stability of the Company, in order to sustain
the rising competition from the opening of ASEAN, together with the increasing business expansion according to the
government policies.