InsureX targets B10bn in premiums
InsureX, the life and non-life insurance broker wholly owned by Siam Commercial Bank, has set an ambitious growth strategy aimed at expanding its customer base to 1 million to achieve total premiums of 10 billion baht by 2030 as it transitions from a traditional brokerage model to a protection advisory business.
The move follows a rebrand from SCB Protect to reflect how the company engages with customers in an increasingly complex financial and insurance landscape, said chief executive Napatcha Pongwattanakitkul.
The rebrand marks a transformation from a product-focused insurance broker into a trusted protection advisor that provides holistic solutions tailored to customers’ evolving needs throughout the different stages of life, she said.
“Our goal is to move beyond simply selling insurance policies and focus on delivering comprehensive protection planning that helps customers manage financial, health and lifestyle risks over the long term,” said Ms Napatcha.
The strategy features the company’s “360 Protection Planning” framework, which integrates life and non-life insurance solutions into a comprehensive protection plan. The approach is designed to help customers address health protection, critical illness coverage, savings, retirement planning and wealth preservation.
InsureX targets the mid-range to affluent segment, which has the most growth opportunities in Thailand’s insurance market, Ms Napatcha said.
While demand for long-term financial planning and protection products continues to rise, the segment remains relatively underpenetrated and increasingly seeks trusted advisors capable of delivering personalised recommendations rather than product-driven sales.
The company is leveraging artificial intelligence (AI) and data analytics to develop hyper-personalised insurance solutions as technology plays a critical role in helping customers receive the right protection products at the right time, while improving the customer experience, she said.
InsureX is deploying an omni-channel distribution strategy, combining professional insurance advisors, digital platforms, and telesales operations to improve accessibility and engagement, while ensuring customers receive tailored advice based on their individual financial circumstances and protection needs.
The company intends to increase the number of insurance advisors from 550 at present to 5,000 by 2030, including 200 Million Dollar Round Table and Top of the Table qualified advisors, reinforcing the quality of professional advice and customer service.
In 2025, InsureX served more than 600,000 customers and generated 4.3 billion baht in combined life and non-life premiums. By 2030, the company aims to grow its customer base to 1 million and more than double premium volume to 10 billion baht.
According to the company, Thailand’s transition to a fully aged society combined with the continued expansion of the middle class is creating strong demand for health insurance, critical illness coverage, retirement-focused products, and long-term financial planning solutions. These structural trends should support sustained growth in the insurance sector despite economic headwinds and elevated household debt levels, noted Ms Napatcha.
By strengthening its advisory capabilities, expanding customer reach, and investing in AI-driven personalisation, InsureX expects to become a leading Thai protection advisory provider, she said.
Source – Bangkok News
