KWI Life Insurance Public Company Limited reveals its outstanding performance in 2022 with the First Year Premiums (FYP) growing more than 160%, compared to the previous year after acquiring the entity from Manulife Thailand in 2021. The performance result demonstrates high capabilities to accelerate up the growth curve with the concept of “Making life insurance easier”.
KWI Life Insurance also reinforces this success by winning the “Fastest Growing Life Insurance Company” at International Finance Awards 2022. The award presentation ceremony was held in February 2023, at Bangkok, after last year’s ceremony in United Arab Emirates.
When ask about how Mr. Antonio Hang Tat Chan, Chairman of KWI Life Insurance Public Company Limited, feels about the award, Mr. Chan is thankful for the support provided by the teams, partners, regulators, and stakeholders. The team is faithful to the KWI platform.
Mr. Chan stated, “It is one of the many milestones to come. We are confident about the business eco-system at KWI – combining Life insurance, General insurance, Asset Management, and Real Estate Development. Our aim is to provide a holistic range of products and services tailored to each and every customer. KWI’s goal is to help customers improve the quality of life by providing a safety net and making financial planning accessible and transparent.
“By combining the expertise, resources, and technology of the different business units (Life insurance, General insurance, Asset Management, and Real estate development), it is possible to create a more comprehensive, efficient, and effective ecosystem that better meets the needs of customers. This can be achieved through cross-selling, data & technology integration, shared platforms, and infrastructures.
KWI is set up to achieve sustainable growth while controlling risks and cost. These would be beneficial to the customers, the company, and society as a whole.”
Mr. Kane Chow, Chief Executive Officer of KWI Life Insurance Public Company Limited said, “KWI Life Insurance’s recent recognition is our significant driving force to continue developing products and offering excellent services. Recently, KWI Life Insurance has achieved the dramatically rapid growth with an increase in FYP of more than 160 % compared to the year 2021.
Meanwhile, the sales through agent and broker channels increased by 100% and 2,723%, respectively. One of the key success factors is the strategy to diversify the distribution channels to serve a wider range of clients. The company has recently provided Group Life and Health Insurance for businesses in response to the needs of our valued partners. Furthermore, we have constantly improved the online platform to facilitate our clients and deliver an exceptional experience of End-to-End Digital Insurance.
“As focusing on unceasingly launching new products, during the past years we introduced the short-term endowment plan – Koom Tem MAX 3/2, responding the trend of savings plan through life insurance that most clients are looking forward to. Receiving an overwhelming response, this plan is one of the short-term savings with insurance coverage, providing more returns comparing with other risk investments. Besides, KWI Life Insurance also focuses on health insurance as we are the first insurance company in Thailand to receive the Office of Insurance Commission (OIC) approval for offering online health lumpsum insurance plan.”
By combining the expertise, resources, and technology of the different business units, KWI created a comprehensive, efficient, and effective ecosystem that better meets the needs of customers. KWI has driven business growth by providing easy-to-understand products to satisfy the clients’ needs at various ages.
The company also aims to build up its services platforms by leveraging its group resources and through various channels, including agents, insurance brokers and digital channel.
KWI’s priority is to develop exceptional experiences in purchasing process and provide after-sales service with completed information and excellent service availability to clients nationwide.