Thai Insurance

What Thai Insurance does

Thai Insurance Public Company Limited (TIC) is a Bangkok-headquartered, Thailand-domiciled non-life (P&C) insurance carrier that has been listed on the Stock Exchange of Thailand for more than thirty years. The company underwrites and distributes personal lines across motor (Class 1, 2+, 3+, and compulsory พรบ.), personal accident (Happy Now Normal, PA 365), health (Health Top Up, Happy Fighter dengue), home (Happy Guardian), and SME business insurance (TIC for SME), targeting Thai individual consumers, families, and small businesses. Pricing follows an annual subscription model with publicly disclosed starting premiums ranging from 290 THB (Happy Fighter) to 11,900 THB (Motor Class 1), anchored by a 'Good Driver Cashback' loyalty program rewarding claim-free policyholders with up to 40% cashback on Class 1 and 20% on Class 2+/3+ coverage.

Distribution is multi-channel: a nationwide agent and broker network supported by the Connecting The Trust roadshow program, a direct online sales platform (Pchang Online), call center (02-613-0123), LINE @Pchang, and financial-institution partners including TMB Bank, Ngern Tid Lor, BAM, AWC, and NSF. The company has invested in a digital platform stack under its TIC Lab innovation initiative: TIC The Surveyor handles online claims notification, e-claim forms, garage booking, and real-time GPS-based surveyor dispatch with a 30-minute processing target; the Agent Platform serves brokers and agents with sales and operations tools; and an OPEN API offers partner integration points.

Underwriting is supported by a Data Warehouse feeding AI-driven customer behavior and claim-pattern analytics for personalized servicing and operational optimization. Revenue is generated through recurring annual insurance premiums across product lines, with renewed annual cycles and no disclosed financial figures in the source data. The company operates only within Thailand, maintains PDPA-compliant privacy infrastructure, and is led by Managing Director Dr. Mahad Arkompisit and a board that includes overlap with parent group Thai Holding Public Company Limited.

Name

Thai Insurance

Legal name

Thai Insurance Public Company Limited (บริษัท ไทยประกันภัย จำกัด (มหาชน))

Website

https://www.thaiins.com/th

Company type

Public

Founded year

1938

Operating status

Operating

Headcount range

251–500 employees

Short description

Thai Insurance Public Company Limited (TIC) is a Bangkok-based, Stock Exchange of Thailand-listed non-life insurer underwriting motor, personal accident, health, home, and SME business insurance for Thai consumers and small businesses, distributed via agents, brokers, the Pchang Online platform, LINE, and bank partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Motor Vehicle Insurance Premiums: Collection of insurance premiums from motor vehicle policies including Class 1, 2+, and 3+ coverage tiers. Revenue is recurring annual premiums with renewal cycles.
2. Personal Accident Insurance Premiums: Personal accident (PA) insurance products including TIC Happy Now Normal, PA 365, and other PA plans. Premium revenue collected annually.
3. Health Insurance Premiums: Health insurance products including Health Top Up, Happy Fighter (dengue coverage), and other health plans. Annual premium revenue.
4. Property and Business Insurance Premiums: Home and SME business insurance including Happy Guardian home insurance and TIC for SME plans.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Thai Insurance Public Company Limited operates as a multi-line non-life insurance company in Thailand, selling motor (Class 1, 2+, 3+, and Compulsory Motor Insurance พรบ.), personal accident (TIC Happy Now Normal, PA 365), health (Health Top Up, Happy Fighter Dengue), home (Happy Guardian), and SME business insurance (TIC for SME) products. Coverage and servicing are supported by a hybrid distribution model spanning a nationwide agent and broker network plus direct digital channels (Pchang Online, LINE @Pchang, call center) and the TIC The Surveyor digital claims platform. Service ethos centers on "Khap Dee Mie Kuen" (Good Driver Cashback) reward programs and no-claims bonuses up to 40% to retain low-risk policyholders.

Product overview

Thai Insurance (บริษัท ไทยประกันภัย จำกัด (มหาชน)) operates as a multi-line property and casualty insurer offering motor, personal accident, health, home, and SME business insurance products. The core product portfolio includes motor insurance (Class 1, 2+, 3+, and พรบ.), personal accident insurance (TIC Happy Now Normal and PA 365), health insurance (Health Top Up), dengue insurance (Happy Fighter), home insurance (Happy Guardian), and SME insurance (TIC for SME). These insurance products are distributed and serviced through a suite of digital platforms: Pchang Online for direct online sales, TIC The Surveyor for digital claims and damage survey, Agent Platform for agent operations, and OPEN API for partner integrations. The company positions itself as an 'Innovative Insurer' and 'InsurTech' leader, with digital transformation initiatives managed under its TIC Lab program.

Differentiator

Problem solved

Functional benefit

Brands

• Happy Fighter: Dengue fever insurance product
• Happy Guardian
• Happy Now Normal
• PA 365
• TIC for SME
• TIC The Surveyor
• TIC Lab
• Health Top Up

Products and services

• Motor Insurance (Class 1, 2+, 3+) — "Khap Dee Mie Kuen" Tiered voluntary motor insurance for individual Thai vehicle owners: Class 1 (full comprehensive), 2+ (comprehensive plus flood, theft, and fire), and 3+ (compulsory plus accident and flood). Includes the "Khap Dee Mie Kuen" cashback reward for eligible drivers and is serviced by a nationwide surveyor network and the TIC The Surveyor digital platform.
• Compulsory Motor Insurance (พรบ.) Legally required third-party liability motor insurance for Thai vehicle owners, providing minimum statutory coverage for bodily injury and death caused to third parties by the insured vehicle.
• Personal Accident Insurance — TIC Happy Now Normal and PA 365 Personal accident coverage for Thai consumers and families, providing cash compensation for death, disability, or medical expenses caused by accidents. PA 365 delivers 24-hour year-round protection while TIC Happy Now Normal covers accidents in daily life and travel.
• Health Top Up Voluntary supplementary health insurance for Thai consumers that tops up other health coverage with additional medical-expense or hospital-benefit protection.
• Happy Fighter (Dengue) Targeted dengue-related health insurance for Thai consumers and travelers, providing specified payouts and medical-expense coverage upon dengue diagnosis.
• Happy Guardian Home Insurance Home insurance for Thai homeowners covering structural and contents risks such as fire, theft, and certain natural hazards affecting the insured residence.
• TIC for SME Business Insurance SME business insurance bundle for Thai small-business operators, providing coverage for commercial property, liability, and related operational risks.

Quantifiable outcome

• Target claims processing turnaround of 30 minutes for digital claims via TIC The Surveyor platform
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered minor and core.

• Thai Red Cross Society (สภากาชาดไทย)minorStrategic or Co-development Partner · 7 May 2020TIC partnered with Thai Red Cross Society for a blood donation campaign during the COVID-19 pandemic (May 2020) at the AEGA headquarters on Silom Road.
• TMB Bank (ธนาคารทหารไทย จำกัด (มหาชน))coreChannel Partner/ Reseller/ DistributorTMB Bank serves as a distribution channel partner for Thai Insurance, offering cross-selling of insurance products through the bank's customer base and branch network in Thailand.
• 724 Insurance (บริษัท 724 มาร์เก็ต จำกัด)coreChannel Partner/ Reseller/ Distributor724 Insurance is a business partner that distributes Thai Insurance products as part of the insurance ecosystem and data sharing network.
• Srikrung Broker (บริษัท ศรีกรุงโบรคเกอร์ จำกัด)coreChannel Partner/ Reseller/ DistributorSrikrung Broker is a registered insurance broker partner of Thai Insurance for product distribution.
• PTN Insurance Broker (บริษัท พีทีเอ็น อินชัวรันส์ โบรคเกอร์ จำกัด)coreChannel Partner/ Reseller/ DistributorPTN Insurance Broker distributes Thai Insurance products as a licensed insurance broker.
• Ngern Tid Lor (บริษัท เงินติดล้อ จำกัด)coreChannel Partner/ Reseller/ DistributorNgern Tid Lor is a financial services partner that offers Thai Insurance products through its lending and financial service channels.
• BAM - Bangkok Commercial Asset Management (บริษัทบริหารสินทรัพย์ กรุงเทพพาณิชย์ จำกัด (มหาชน))minorChannel Partner/ Reseller/ DistributorBAM serves as a distribution partner for Thai Insurance products through asset management and financial service channels.
• AWC - Asset World Corp (บริษัท แอสเซท เวิรด์ คอร์ป จำกัด (มหาชน))minorChannel Partner/ Reseller/ DistributorAWC is a business alliance partner that distributes Thai Insurance products through its hospitality and commercial property ecosystem.
• NSF - National Savings Fund (กองทุนการออมแห่งชาติ)minorGTM or Marketing PartnerNSF serves as a partner for cross-promotional activities related to national savings and financial protection products.
• Thai Holding Group (เครอไทย โฮลดิ้งส์ จำกัด (มหาชน))coreOthersThai Holding Group is the parent company of Thai Insurance, providing strategic direction and group synergies with affiliated companies including AEGA Life Insurance and AEGA Insurance.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Sunday Insurance: Sunday is a Thai InsurTech offering digital motor and personal accident insurance with embedded distribution via mobile apps and partners. Comparable to Thai Insurance as a Thai digital-native InsurTech targeting the same motor and PA customer base with a more modern UX.
• Roojai: Roojai is a Thai InsurTech / digital-first motor and health insurer that sells policies online and via mobile. Comparable to Thai Insurance as an emerging digital-native Thai competitor focused on motor and PA — directly challenging TIC's core product mix with a lower-cost digital distribution model.

Direct peers

• Thaivivat Insurance: Thaivivat Insurance is a Thai non-life insurer focused on motor and personal insurance products distributed via agents and brokers. Directly comparable to Thai Insurance in motor-centric product mix and Thai-domestic agent-driven distribution model.
• Southeast Insurance: Southeast Insurance (formerly AXA Thailand general insurance) is a Thai non-life carrier offering motor, health, and property insurance. Directly comparable as a Thailand-domestic multi-line P&C competitor with similar product breadth and distribution mix.
• Bangkok Insurance: Bangkok Insurance is one of Thailand's largest established non-life insurers offering motor, fire, marine, and casualty coverage through agent/broker and direct channels. Directly comparable to Thai Insurance as a Thai-domestic multi-line P&C carrier competing in the same product categories and customer segments.
• Dhipaya Insurance: Dhipaya Insurance is a major Thai non-life insurer offering motor, property, marine, and specialty insurance through nationwide distribution. Comparable as a Thai-domestic P&C competitor with overlapping product lines, distribution channels, and customer base.
• Muang Thai Insurance: Muang Thai Insurance is a leading Thai non-life insurer with a broad motor, health, fire, and personal accident portfolio distributed through a national agent network. Directly comparable as a domestic Thai multi-line P&C competitor targeting similar consumer and SME segments.

Broad incumbents

• MSIG Insurance (Thailand): MSIG Thailand is the local arm of MS&AD Insurance Group offering motor, fire, marine, and liability insurance to Thai consumers and corporates. Comparable as a broader multi-line P&C incumbent in Thailand with similar product categories and bank-partner distribution.
• Sompo Insurance Thailand: Sompo Insurance (Thailand) is a Japanese-backed general insurer offering motor, fire, health, and commercial lines through agents and brokers. Comparable as a broader multi-line P&C incumbent operating in Thailand with similar agent/broker distribution model.
• Allianz Ayudhya General Insurance: Allianz Ayudhya is a major Thai general insurer backed by the global Allianz Group, offering motor, health, and commercial coverage. Comparable as a broader multi-line P&C incumbent in Thailand with overlapping products and superior capital backing, though not a pure domestic specialist.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/pchangthaiinsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Thai Insurance