Thailand’s Minister of Finance Apisak Tantivorawong has stressed the important role of the insurance business in providing security to life and property during his speech at the presentation of the Prime Minister’ s Insurance Awards 2015 held by the Office of Insurance Commission (OIC).
He said insurance companies take a crucial role as fundraisers in Thailand’s capital market.
They can contribute to the economic stimulus package the government has launched recently by developing an insurance package for low-income people who are the target of the campaign to keep them secured.
He highlighted that all insurers should uphold a good governance practice and keep a promise they give to customers in order to maintain their own credibility.
Pravej Ongartsittigul, Secretary-General of the OIC revealed the OIC and insurance companies have jointly developed insurance schemes appropriate for all groups of customers.
At present, there are 11 types of micro insurance. More than 500,000 insurance policies of this type have been sold in the first half of 2015. The IOC aims higher to have 1,000,000 policies sold by the end of this year.
