What Falcon Insurance does

Falcon Insurance (ฟอลคอนประกันภัย), founded in 2007 and headquartered in Huai Khwang, Bangkok, is a Thai non-life property and casualty insurance company operating as The Falcon Insurance Public Co., Ltd. The company underwrites motor, accident and health, personal accident, property, engineering, marine/cargo, and miscellaneous lines (drone, pet, cyber, religious venue), with a target premium mix of approximately 50% motor, 35% corporate business, and 15% accident and health. Falcon is majority-owned by Fairfax Financial Holdings Limited, a top-20 global P&C insurer with S&P A+ Positive credit rating and Fortune Global 500 standing (2024); Fairfax Asia provides regional governance and capital backing.

Falcon's commercial stack is built around multi-channel distribution — 7+ physical branches nationwide, an agent and broker network, a 1534 24-hour call center, LINE Official Accounts (FalconCS, Falconclaim), the CarMate motor mobile app, and the TPA Care health mobile app — combined with embedded partnerships in online aggregators (gettgo), online brokers (Direct Asia), retail channels (Power Buy, Sabai Technology vending machines), and telemedicine (True HEALTH). The technology layer includes e-Policy issuance, e-Claim processing, video-call (VDO Call) claim notification, the iClear cardless motor-claims clearance platform, RPA with OCR for policy issuance, and AI applied to claims adjudication and underwriting.

The revenue model is annual subscription premiums billed across motor (Class 1 iMotor Super Deal from ฿7,000/year, Class 2+ from ฿5,800/year, Class 3+ from ฿5,000/year, plus compulsory), personal accident (iWill 1 from ฿5/day), and corporate lines, augmented by a usage-based Smart Motor product priced per kilometre. Falcon has reported gross premiums of ฿2,564M in 2020, achieved >35% premium growth in FY2024, and operates against a public ฿5 billion revenue target for 2025-2026, funded in part by the parent group's balance sheet and a maintained Capital Adequacy Ratio above 200%.

Name

Falcon Insurance

Legal name

The Falcon Insurance Public Co., Ltd.

Website

https://falconinsurance.co.th

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Falcon Insurance is a Thai non-life P&C insurer underwriting motor, accident and health, property, marine, and miscellaneous lines for retail and corporate customers, distributed via 7+ branches, agents and brokers, call center, mobile apps, and online aggregators under majority owner Fairfax Financial Holdings.

Ownership category

akta.pro rank

Product category

Property & Casualty Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Travel & Accident (Non-Life) Insurance (FSAJAMAN)

Keywords

• Motor insurance products
• Health and accident insurance
• Commercial property insurance
• Marine cargo insurance
• Specialty insurance lines

Headquarters

HQ city

Huai Khwang

HQ country

Thailand

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Supply Chain, Technology or R&D, Infrastructure

Revenue model

1. Property & Casualty Insurance Premiums: Core revenue from motor insurance (Class 1, 2+, 3+, Compulsory), accident & health insurance, and miscellaneous insurance (drone, pet). Mix includes annual premiums from motor, health/accident policies. Revenue mix target: ~50% motor, ~35% corporate business, ~15% accident & health.
2. Property Insurance (Corporate): Property (All Risk), engineering, marine and cargo, and miscellaneous corporate insurance lines. Includes reinsurance, co-insurance, and retrocession arrangements.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

Falcon Insurance is a Thai property & casualty insurer that underwrites and distributes motor, personal accident, health, property, engineering, marine and specialty insurance products (including drone, pet, travel, cyber and religious-venue cover) to both individual consumers and corporate clients. The company issues policies through direct online purchase, a call center, agent and broker networks, physical branches, and digital partnerships, with claims supported by an in-house digital stack spanning the CarMate and TPA Care mobile apps, VDO call claim notification, e-Claim and RPA/AI-enabled underwriting.

Product overview

Falcon Insurance operates as a multi-line property and casualty insurance company offering a comprehensive portfolio of insurance products through both traditional and digital channels. The product portfolio centers on motor insurance (iMotor Class 1, 2+, 3+ with Smart Motor telematics variant), personal accident and health insurance (iWill, คุ้มเวอร์, Super Save, CI 6 Fix, COVID policies), and specialized covers (pet, drone, cyber, religious venue insurance). For corporate clients, the company provides commercial lines including property, engineering, marine, and miscellaneous insurance. Digital distribution is enabled through mobile apps (TPA Care, CarMate) and partnerships with online platforms (gettgo, Direct Asia). The company also offers ancillary services such as garage networks, hospital networks, 24-hour claims centers, and telemedicine through True HEALTH integration.

Differentiator

Problem solved

Functional benefit

Brands

• iMotor Super Deal: Motor insurance Class 1 product with comprehensive coverage including emergency roadside assistance, travel compensation, and free tire replacement for accident damage.
• iWill 1
• Travel2Go
• iSmart Health O-A Plus
• Health O-X Plan
• Pet Protect Sure
• Smart Motor

Products and services

• iMotor Super Deal (Class 1 motor insurance) Comprehensive Class 1 private car insurance for Thai individual vehicle owners, starting at 7,000 THB/year, including travel allowance up to 2,000 THB during repair, income compensation for injury, and 24-hour roadside emergency assistance.
• iMotor 2+ (Class 2+ motor insurance) Class 2+ motor insurance for Thai vehicle owners covering third-party liability plus additional benefits such as 2,000 THB travel allowance and accident income compensation, starting at 5,800 THB/year.
• iMotor 3+ (Class 3+ motor insurance) Affordable Class 3+ third-party-plus motor insurance for Thai drivers, starting at 5,000 THB/year and available for online purchase.
• Compulsory Motor Insurance (พ.ร.บ. รถยนต์) Statutory compulsory third-party motor liability insurance required for all vehicle owners in Thailand, distributed by Falcon through online and offline channels.
• Smart Motor (pay-per-use motor insurance) Usage-based motor insurance using GPS/telematics to calculate distance-based premium, targeting low-mileage drivers and Work From Home customers who drive infrequently.
• iWill 1 (Personal Accident Insurance) Personal accident insurance for Thai individuals starting at 5 THB/day, providing accident death benefit, medical expenses and income compensation.
• KoomVer / KoomVer Plus (Lump-sum Health Insurance, คุ้มเว่อร์ / คุ้มเว่อร์ พลัส) Health insurance with lump-sum hospitalization payment, coverage up to 1 million THB, 15% no-claim discount and tax deduction up to 25,000 THB/year; KoomVer Plus priced at 25,000 THB/year and includes accident cover of 300,000 THB.
• Super Save (Excess Health Insurance) Excess (top-up) health insurance designed to supplement existing coverage, starting from 11 THB/day for younger insureds, with up to 1 million THB medical coverage and 50,000 THB accident cover per year.
• CI 6 Fix (Critical Illness Insurance) Critical illness insurance covering 6 conditions (cancer, heart attack, stroke, liver failure, kidney failure, COPD) with lump-sum payout on diagnosis, starting from 11 THB/day, up to 2 million THB coverage, 100,000 THB accident/year and 4,000 THB/day income补偿.
• COVID-19 All-In-One (ประกันโควิด All IN ONE) Combined COVID-19 insurance for Thai consumers covering COVID-19 hospitalization up to 1 million THB, vaccine side effects and personal accident cover, for ages 1-99 with 365-day coverage starting at 350 THB.
• Travel2Go (Travel Insurance) Travel insurance for Thai travelers covering trip-related accidents and travel emergencies purchased via falconinsurance.co.th and partner aggregators.
• Pet Protect Sure (Pet Insurance) Pet insurance for Thai pet owners covering veterinary expenses and pet-related liability.
• Drone Insurance (ประกันภัยโดรน) Drone insurance for Thai drone operators covering third-party bodily injury, third-party property damage, and drone operator liability up to 1,000,000 THB, starting at 860 THB/year, with drone registration service included.
• i-Place (Green Residential Property Insurance) Residential property insurance that offers up to 15% discount for homeowners installing Solar Roof systems, supporting ESG environmental initiatives.
• Cyber Insurance (ประกันภัยออนไลน์ไซเบอร์) Cyber insurance covering online fraud, digital wallet theft and credit/debit card fraud, with coverage up to 25,000 THB per year and distributed as a free bundled benefit through Power Buy electronics retail channels.
• Corporate Property Insurance (ประกันภัยทรัพย์สิน) Commercial Property All Risk insurance for Thai corporate clients covering damage to buildings, contents and business interruption, including co-insurance capacity for large property sums insured.
• Corporate Engineering Insurance (ประกันภัยด้านวิศวกรรม) Engineering insurance for Thai corporate clients covering construction risks, machinery breakdown and electronic equipment.
• Corporate Marine & Logistics Insurance (ประกันภัยทางทะเลและโลจิสติกส์) Marine cargo, hull and logistics insurance for Thai corporate clients covering cargo transit and logistics operations.
• Corporate Miscellaneous Insurance (ประกันภัยเบ็ดเตล็ด) Miscellaneous commercial insurance for Thai corporate clients, including religious venue insurance and other niche business liability cover.
• CarMate Mobile Application Standalone mobile application for Falcon motor insurance customers providing real-time repair status tracking, accident notification and motor claim management via CarMate (available on iOS and Android).
• TPA Care Mobile Application Standalone mobile application for Falcon health and accident insurance customers to check coverage and claims history in real time, integrated with the hospital network for direct claim processing (available on iOS and Android).

Quantifiable outcome

• Claims processed within 15 days for COVID-19 cases
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered minor.

• บริษัท ไทย วี.พี.คอร์ปอเรชั่น จำกัด (Thai VP Corp)minorStrategic or Co-development Partner · 1 January 2025CSR education partnership. Jointly with Chai Rueng Group, Falcon donated scholarships to children of wildlife rangers at Huai Kha Khaeng Wildlife Sanctuary through the 'สานฝัน ปันโอกาส' program.
• เครือไทยรุ่ง กรุ๊ป (Chai Rueng Group)minorStrategic or Co-development Partner · 1 January 2025CSR education partnership. Jointly with Thai VP Corp, participated in the 'สานฝัน ปันโอกาส' scholarship program for children of wildlife rangers at Huai Kha Khaeng Wildlife Sanctuary.
• สำนักงาน คปภ. (OIC Thailand)minorOthers · 1 January 2025Regulatory body overseeing Thailand's insurance industry. Falcon Insurance collaborates with OIC on consumer education, road safety campaigns, and flood relief efforts.
• The Pacific Insurance Berhad (Malaysia)minorStrategic or Co-development Partner · 1 January 2024Malaysian P&C insurance company in the Fairfax Asia group. Falcon hosted a management visit from The Pacific Insurance to strengthen cross-border collaboration within the Fairfax Asia network.
• Sabai Technology (สบาย เทคโนโลยี)minorChannel Partner/ Reseller/ Distributor · 1 January 2022Technology partnership for selling motor, compulsory, and accident insurance through automated vending machines. Includes e-policy option and donation of a portion of revenue to environmental organizations.
• Power Buy (เพาเวอร์บาย)minorGTM or Marketing Partner · 1 January 2021Electronics retail chain partnership. In the '25th Anniversary Celebration' campaign, Falcon Insurance provides free cyber insurance (coverage up to 25,000 THB) to customers purchasing mobile phones and computers at Power Buy stores nationwide or online.
• gettgominorChannel Partner/ Reseller/ Distributor · 1 January 2020Online insurance aggregator platform. Falcon Insurance distributes health insurance products (คุ้มเวอร์, คุ้มเวอร์ พลัส) through gettgo's online comparison marketplace, enabling customers to compare and purchase insurance digitally.
• Direct Asia (Thailand)minorChannel Partner/ Reseller/ Distributor · 1 January 2020Online motor insurance broker. Falcon provides motor insurance through Direct Asia's platform and includes free coronavirus coverage as a promotional benefit for policyholders purchasing through this channel.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Bangkok Insurance PCL: One of the largest Thai non-life insurers offering motor, property, marine, and accident/health products. Directly comparable to Falcon across the full P&C product spectrum, with a much larger premium base and established corporate-line presence.
• Southeast Insurance (Thai) PCL: Thai P&C insurer offering motor, fire, marine, and miscellaneous lines. Comparable to Falcon across the multi-line P&C product set, with overlapping retail and corporate customer segments.
• Dhipaya Insurance PCL: Listed Thai P&C insurer with motor, property, and accident/health offerings. Closely comparable to Falcon in product mix and customer base, competing head-to-head in retail motor and corporate property.
• Muang Thai Insurance PCL: Major Thai P&C insurer with strong retail motor franchise and corporate lines. Comparable to Falcon in product breadth and target customer segments, with significantly larger scale and deeper branch network.

Broad incumbents

• Sompo Insurance Thailand: Japanese-owned Thai P&C insurer serving motor, property, and accident segments. Comparable in product offering but with deeper corporate relationships and a broader international parent's underwriting support.
• MSIG Insurance (Thailand): Subsidiary of MS&AD Insurance Group (Japan), offering motor, health, property, and specialty lines in Thailand. Overlaps with Falcon in retail motor and corporate property but operates with broader regional Japanese backing and larger capital base.
• AXA Insurance Thailand: International P&C and health insurer in Thailand with motor, health, and property offerings. Comparable to Falcon in retail health and motor, with global brand reach and digital-first distribution advantages.

Regional players

• The Pacific Insurance Berhad: Malaysian P&C insurer within the Fairfax Asia group, directly affiliated with Falcon. Comparable in product set (motor, fire, marine) and serves as the Fairfax Asia cross-border collaboration partner, but operates in Malaysia rather than Thailand.

Others

• AIA Thailand: Major life and health insurer in Thailand. Overlaps with Falcon on accident and health products but is primarily life-focused; relevant as a benchmark for Thailand health-insurance distribution scale.

Emerging players

• Roojai.com: Thai digital-first motor insurance distributor backed by several insurers. Comparable to Falcon's online/D2C motor strategy and a channel competitor for online motor customers, though it operates primarily as a digital intermediary rather than a carrier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FalconInsuranceTH
• Xx.com/falconinsure
• LinkedInlinkedin.com/company/falconinsurance

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Falcon Insurance