Bangkok--6 Aug--Dentsu
Sompo Japan Nipponkoa Insurance (Thailand) PLC. reinforced its image as Japan's number one insurance company while entering the Thai market with the slogan "Serving Thais with Japanese Spirit."
Ms. Duenden Chuenchitsirit, Director and Vice President of Sompo Japan Nipponkoa Insurance (Thailand) PLC. stated that the company was ready to fully embark on the retail market in Thailand after its tremendous success in corporate insurance over the past 18 years, as the 'number one' non-life insurance company with the highest gross written premium in Japan.
"Within the next three years (2015 – 2018), the company's gross written premium is expected to grow by 10 – 15% annually, to be valued at 2,800 million baht – a significant rise from last year's gross written premium of 2,400 million baht. And we aim to be among the top ten non-life insurance companies with highest gross written premium within 2018. In the first place, we seek to build brand awareness so that new clients will get to know us more. We focus primarily upon the motor insurance market due to its strong tendency to grow, with a market share of 60% in the overall non-life insurance industry. In addition, we are about to launch our first TVC this year with a budget of over 10 million baht allocated particularly for advertising. In the TVC, we shall present our concept "Serving Thais with Japanese Spirit" through "Mr.Sompo", a young enthusiastic man from Japan who has come to Thailand with extensive expertise in insurance and absolute commitment to offer valuable services. Definitely, as the number one insurance company from Japan, we are fully ready to serve Thai people.
Moreover, in pursuit of greater customer satisfaction, we plan to do digital marketing as it is an effective channel of communication between our sales staff and clients. We are also engaged in our network expansion from eight to ten branches while increasing the number of our brokers and agents, and offering more training courses to provide them with in-depth knowledge and enhance their sales skills. Further, we plan to establish even better relationships with car dealers, expand our business through banking agents, and enhance our CRM. Currently, our Call Center is available 24/7 to offer prompt services to claims and respond to comments and queries. By the end of September 2015, we will have our own claim settle staff and a location tracing system to maximize our service efficiency and a telemarketing team to contact and facilitate existing clients in terms of insurance renewals. Those with a good insurance history will also enjoy special discounts, and we will also provide replacement cars during repair," said Khun Duenden Chuenchitsirit.
Apart from the aforementioned marketing strategies, Sompo Japan Nipponkoa Insurance (Thailand) PLC. also takes pride in its enormous potential and great financial stability from its parent company in Japan; Sompo Japan Nipponkoa alone has a gross written premium four times higher than the gross written premium of all insurance companies in Thailand. The massive amount of capital and strong teamwork, therefore, will definitely drive Sompo Japan Nipponkoa Insurance (Thailand) PLC. towards an even brighter future.
Generally speaking, the growth in non-life insurance business is mainly based upon agents,
brokers and motor insurance which has the highest overall market share of 60%. The bank channel has a market share of approximately 5% and an annual growth rate of 10% where insurance is primarily associated with home loans, e.g. property insurance, fire insurance, etc.
For more information, please contact 02-119-3000 or visit www.sjnk.co.th.