By making coverage plans more accessible, dtac’s innovative mobile-based platform tackles the risk posed by the underserved insurance market in Thailand.
Nov 18, 2021 – dtac continues its expansion into the insurance market with the launch of an insurance aggregator called dtac dSurance, now available on the dtac app. It brings together the best of trusted and affordable digital insurance services for its customers, making better coverage more accessible to a wider public. The move reinforces dtac’s “fast forward digital” strategy to go beyond connectivity services.
How Lih Ren, chief marketing officer at Total Access Communications Plc or dtac, said: “dtac’s promise is to empower people to live the life they truly want. While interest in insurance is high, many feel overwhelmed by amount of products available. dtac dSurance lowers the barriers by bringing trusted insurers into one simple, affordable and easy-to-use digital platform. It’s one more example of how dtac can leverage agile, cross-industry partnerships to empower our customers.”
dtac dSurance is developed in partnership with Bolttech, one of the fastest-growing international InsurTech companies. The platform curates best-in-class insurance products within the dtac app, offering a wide variety of coverage plans for health (Covid-19 specifically) motor vehicles, personal accident, travel insurance, and more. This allows customers to find a wide selection of insurers, including AXA, Bangkok Insurance, Dhipaya Insurance, Thaisri Insurance, FWD, Thanachart Insurance,Tune Insurance, MSIG, howden maxi and Sunday, within dtac app
“Consumers want peace of mind. And dtac dSurance finally brings insurance into an easy-to-use digital platform they know and love, the dtac app. They can now feel more confident about easily choosing the coverage that meets their needs and getting the best value,” Mr. Lih Ren said. “Affordable and approachable, dtac dSurance will be a key driver for growth of the insurance market in Thailand.”
Thailand’s insurance market remains under-penetrated. Thailand’s insurance penetration stands at 5 percent compared with markets such as Hong Kong at 21 percent and the USA at 12 percent.
According to a study by dtac, there are four barriers limiting Thai consumers’ access to quality insurance services:
- Too many options and too little knowledge about insurance.
- Uncertainty on credible sources of information, especially in rural areas.
- A perception that insurance is expensive, lack of confidence in the affordability in paying the premiums, and uncertainty about benefits.
- Lack of access to convenient recurring payment options, as credit card penetration remains limited in Thailand’s mass market.
To address customers’ pain points, dtac dSurance has pre-selected insurance plans that are affordable and provide best benefits for customers to ensure that it is easy to choose the coverage most suited for their needs. Customers have the choice of using dtac bill to pay for their selected plan which help improve accessibility especially for those without credit card.
The move reinforces dtac’s ambitions to broaden its horizon to go beyond connectivity, offering meaningful services beyond traditional telecom products. Recently, dtac also introduced two new products beyond connectivity. Gaming Nation is Thailand’s one and only destination for all gamers to buy top-ups and in-app items for their favorite games. dtac also partnered with LINEBK and KBTG to offer lending service called Jaidee Credit Line, giving customers easy access to loans with speedy approval that eschews the hassle of a traditional loan process.