- Established in 1942, Thai Life Insurance PCL has grown into Thailand’s largest fully integrated life insurer, serving over 13 million policyholders nationwide.
- Pioneered digital transformation in Thailand’s insurance sector, launching AI-driven tools and mobile platforms to streamline claims and customer engagement.
Core business and market leadership
Thai Life Insurance PCL operates as a subsidiary of Thai Life Insurance Group, offering a diversified portfolio including life insurance, health coverage, and retirement solutions. With a market share of approximately 35%, the company dominates Thailand’s life insurance sector, supported by a network of 70,000 agents and 200+ branches. Its customer-centric ethos is reflected in initiatives like the Thai Life Care app, which enables policy management and telehealth consultations.
The company prioritises long-term financial stability, maintaining a solvency ratio of 340% as of 2023—well above Thailand’s regulatory requirement of 140%. Strategic partnerships with institutions like Kasikornbank and digital wallets such as TrueMoney have expanded its reach to underserved rural communities.
Also read: AIG Malaysia: Pioneering insurance solutions
Also read: Globe Internet and Reunion Insurance launch ‘Reunion Online’ to revolutionise insurance industry
Sustainability and community impact
Thai Life Insurance PCL integrates environmental, social, and governance (ESG) principles into its operations. Its Green Insurance Policy incentivises eco-friendly practices by offering discounted premiums for clients adopting renewable energy or electric vehicles. The company has also funded over 200 schools in Thailand’s remote regions through its Thai Life Education for All initiative, aligning with the UN’s Sustainable Development Goals.
During the COVID-19 pandemic, the firm provided free insurance coverage to 50,000 frontline healthcare workers and introduced flexible payment options for policyholders facing financial hardship. These efforts earned it a 2023 Asia Responsible Enterprise Award for social empowerment.
