Wednesday, March 03, 2021

Value of health insurance premiums to rise 1.59% this year

Jan 18. 2021
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By The Nation

Health insurance premiums are expected to grow 1.59 per cent this year amid worries over the Covid-19 outbreak, the Insurance Commission said on Friday.

Commission secretary-general Suthipol Taweechaikarn said total premiums are expected to rise to Bt101 billion in 2021, compared to Bt99 billion last year.

"Uncertainty over the Covid-19 outbreak has triggered demand for health insurance policies as medical expenses are likely to increase every year," he said.

Tokio Marine Life Insurance (Thailand) said demand for health coverage policies has grown among customers with high purchasing power. Deputy CEO Somphot Keitkraival said the company will offer a new health insurance policy which covers medical treatment, physical therapy, medical check-up and vaccination, with premiums starting at Bt15,000 annually.

"The company aims to increase health insurance premiums to 50 per cent this year from 40 per cent last year," he said.

Cigna Insurance CEO Teerawut Sutanaseriporn said his company is employing digital tech to meet customer demand in the new normal era.

"Also, we will increase channels to provide information for customers and grant additional privileges for those who use digital platforms," he said.

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