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“Krungsri Auto Broker” spearheads digital insurance services

Jun 25. 2019
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By The Nation

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“Krungsri Auto Broker,” an insurance broker under Ayudhya Capital Auto Lease PCL, is set to provide a seamless experience for automobile users with the launch of its online motor insurance service (www.krungsriautobroker.com).

This new digital platform offers “Exact Comparison and Budget-to-Plan” features, which enable customers to purchase schemes based on their budget. The company expects Bt200 million in motor insurance premium in the first year. 

“With our commitment to comprehensively answer the needs of automobile users, the company is always looking for opportunities to offer different aspects of lifestyle-related services. We realise that, apart from auto finance services, motor insurance is another necessary product. To better fulfil the needs of automobile users, the company aims to offer enhanced insurance services through Krungsri Auto Broker’s business strategies,” Pairote Cheunkrut, chairman of Ayudhya Capital Auto Lease Plc, said.

“Digital platforms are becoming increasingly a vital part of today’s shopping experiences. The same applies to motor insurance products. According to [global management firm] Bain and Company, approximately 60 per cent of Thai non-life insurance customers use mobiles for product research. However, most customers are still hesitant about choosing motor insurance schemes online, because the premium doesn’t match their budget and the selections are limited,” Pairote added. 

Apart from offering product based on budget, the new website will also provide a wide range of schemes for both cars and big bikes from top insures. Customers can simply choose their vehicle specifications, provide their annual budget, insurance class and coverage details, such as sum insured or deductibles, and the system will display comparisons and highlight recommended conditions to assist customers in their decision making. 

The last step is filling in personal contact details, so staff can follow up. Soon, the website will also offer the option of renewing existing policies. 

“The Krungsri Auto Broker website reflects our dedication in responding to the needs of automobile users, in addition to providing auto-finance services. We expect 300,000 visitors per month and Bt200 million in digital motor insurance premium within a year. The company strongly believes the platform will be a key milestone in building the Krungsri Auto Ecosystem, bringing together various lifestyle services for automobile users, and boosting the standard of Thailand’s auto finance industry,” Pairote said.

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