Viriyah Insurance moves forward in 68, emphasizing services, partnerships, and personnel to push total premiums to 4.2 billion baht

Viriyah Insurance reveals operating results in 67 with direct premiums of 40,879 million baht, moving forward with 3 goals: service, business partners, personnel, driving the strategy for 68, aiming for growth of no less than 3.7%

Mr. Amorn Thongthew, Managing Director, Viriyah Insurance Public Company Limited. Revealed the operating results in 2567 that Viriyah Insurance has direct insurance premiums totaling 40,879 million baht, growing 2%, divided into motor insurance premiums of 36,380 million baht, growing 2.1%, and non-motor insurance premiums of 4,499 million baht, growing 1.2%.

It remains strong and stable with assets of 70,904 million baht and a capital adequacy rate (CAR) of 220%, which is higher than the fund standards as stipulated by law.

In 2568, the company has set a target for direct insurance premiums of 42,569 million baht, or a growth of no less than 3.7%, divided into motor insurance of 37,591 million baht, a growth of 3.3%, and non-motor insurance of 4,978 million baht, a growth of 11%.

Although in 2567, the insurance industry will face risks and challenges from many factors, such as economic slowdown, inflation rate that is contrary to consumer purchasing power, disaster and environmental risks, and changes in consumer behavior.

However, the company has been able to maintain its No. 1 non-life insurance market share for 33 consecutive years with a market share of 14.3%, while motor insurance, the company's main portfolio, has also maintained its No. 1 market share with a market share of 22.6%.

In 2567, the company has developed products that cover all aspects of insurance, whether it is automobiles, accidents, health, housing, etc., and has developed a comprehensive service process for customers, from insurance underwriting, after-sales service, to fast and fair claims service.

With over 160 branches and claim service centers, as well as service points in shopping malls (V-Stations) nationwide.

In addition, the company has continuously developed innovative services, such as VClaim on VCall, an online claim service, V-Inspection, a pre-insurance vehicle inspection service, and V-Roadside Service, a 24-hour emergency assistance service ready to provide services to policyholders.

Mr. Amorn said that For the operational plan in 2568 The company will implement strategies under the concept “Make every moment count: with comprehensive and excellent services” Reflecting the company's commitment to developing excellent service work in all dimensions, including improving the quality of Touchpoint, expanding the partner ecosystem, and developing the potential of personnel to enable the growth of motor and non-motor work to meet the following goals:

Goal 1

Raise the quality and readiness of service at every point where customers come into contact with the brand (Touchpoint), integrating with Omnichannel, convenient anywhere, anytime, through a variety of comprehensive service channels, including:

1. Expand the work of non-life insurance agents and brokers, which is considered an important sales channel of the company, to more than 200 in order to be able to support services to customers comprehensively, especially in secondary cities such as Uthai Thani, Bueng Kan, Nakhon Phanom, Kalasin, Roi Et, Maha Sarakham, Pattani, Yala and Narathiwat, including upgrading the knowledge and potential of non-life insurance agents and brokers through online training that can be accessed anywhere and anytime in order to be able to provide comprehensive product advice for both motor and non-motor insurance.
2. Develop service points in all branches, claim service centers, and service points in shopping malls (V-Station) to cover all services comprehensively, with the goal of improving and expanding additional service areas to be more appropriate so that customers can access services more easily and conveniently every day, including public holidays.
3. Elevate sales and service via Line OA for both Viriyah Insurance and Viriyah Health Insurance to become a One Stop Service that can provide comprehensive sales and service, especially accident claim notification, appointment claim (VClaim on VCall) and emergency notification via mobile phone so that customers can proceed more conveniently and quickly.
4. Improve the efficiency of accident inspection by setting up “Accident Inspection Waiting Points” or waiting points for officers to wait to inspect accidents appropriately, including upgrading the service at the scene to be comprehensive. Currently, the company has accident inspection waiting points distributed throughout the country, more than 20 points, and aims to expand to 30 points within this year.

Goal 2

Expand the network of business partners to help strengthen the service ecosystem, including:

1. Increase the number of electric vehicle (EV) dealers to cover all brands nationwide, and develop the potential of Viriyah Insurance's standard repair centers to support electric vehicle (EV) repair services.
2. Expanding the network of specialized repair center partners, such as luxury car repair centers and transportation car repair centers, to respond to the growth of the specialized car insurance market.
3. Continuously expanding our network of hospital partners to facilitate health insurance policyholders.
4. Add Exclusive Partners for the Privilege Program, which will focus on Exclusive Program privileges, with a goal to expand Exclusive Partners from 65 brands to 80 brands this year.

Goal 3

Enhance the potential of Viriyah Insurance's personnel, which currently number more than 6,900 people, from management to operational levels, including:

1. Develop potential according to the Road Map of each job position and work period, and set goals for executive development according to the Individual Development Plan (IDP) to recruit and develop personnel with high potential, knowledge, skills, and expertise to prepare new executives in the future.
2. Develop knowledge and enhance new skills to support changes in technology such as AI technology, electric vehicle technology, etc.
3. Develop an online training system so that employees can access self-learning anytime, anywhere under the concept of Long Live Learning.
4. Enhance knowledge of motor and non-motor products, knowledge of electric vehicles (EV) to employees in all related departments, both front-end and back-end claims, including the underwriting department, in order to provide efficient service to customers.

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