Krungthai-AXA life Insurance, a leader in Health & Protection Insurance, has enjoyed great success over the years and has grown to number 5 in the industry. Despite many challenges from the pandemic and a turbulent economic, the company remains on a strong financial footing with a good solvency position and a diversified product mix.
Following the pandemic, customers redefined their priorities demanding more health and protection coverage and online communication. By quickly adapting to their evolving needs, KTAXA launched Telehealth and Telemedicine and in August 2021 launched #Emma by AXA, which has now over 580,000 users in Thailand!
Additionally, the company changed the composition and make-up of its distribution by arranging it into three channels, 16,000 agents, 900 Krungthai Banks and Corporate Solutions. At the same time, to encourage professionalism, it introduced “AXA Prime and AXA Prime Blue”, a gold standard the company expects from agents. This approach has been working very well and in 2022 the company won “Best Distribution Channel” at insurance industry awards.
The success of KTAXA has seen its customer base increase from 1.7 million in 2018 to 2.2 million today and customers are purchasing more policies every year. The CEO, Sally O’Hara recently won an “Elite Women Award” from Insurance Asia Awards and in 2022 the company won Best Employer Brand at The Thailand Employer Brand Awards.
“Our success and awards are a team effort and I’m extremely proud of what we have achieved together over the last few years, not just in terms of business growth but also our commitment to local communities. For instance, together with partnering organisations, KTAXA planted 110,000 trees around Thailand in the last three years” explained O’Hara.
2023 is the “Year of Growth” for the company in which distribution channels will be expanded, including agency and bancassurance, and some new channels will be added that tap into new emerging customer segments. Krungthai AXA Life will continue to evolve its AXA Prime model to ensure that the best customer service is provided. As for sustainability, KTAXA will continue to work at being a green insurer while also being inclusive and making sure its coverage meets the needs of the mass market.
KTAXA has never been better positioned to face the challenges ahead and seize the opportunities. In conclusion, Ms. O’Hara stated “I am incredibly excited about this journey ahead and have full confidence that with our dedicated management team and committed workforce our goals cannot only be achieved, but can also be surpassed -“Know You Can”!
For further information please call customer service 24/7 at 1159 or visit www.krungthai-axa.co.th
