Thaivivat Insurance

What Thaivivat Insurance does

Thaivivat Insurance Public Company Limited (SET: TVI) is a Thai non-life insurance company founded on October 8, 1951, headquartered in Phaya Thai, Bangkok, with 501-1,000 employees. The company is publicly traded on the Stock Exchange of Thailand and operates under OIC license 8/2516, having transformed into a public limited company in 1991. The Aswathanakul family maintains significant leadership, with Jerapan Aswathanakul serving as President and CEO.

Thaivivat underwrites motor, health, personal accident, travel, property (fire, all-risk, theft), and marine/transport insurance for Thai retail consumers, small and medium businesses, and corporate/group clients. Its core motor portfolio spans Type 1, 2+, 3+, compulsory (พ.ร.บ.) policies, plus the pay-per-use TVI Connect product that uses a USB-installed GPS device to activate coverage only during driving, with up to 70% premium savings. Health insurance includes Active Health (smart watch-integrated with up to 40% fitness-based discounts), Chai Pum Mei Kuen (10% no-claim refund), Delight, and the TTB Health Care Plus bancassurance product. Personal accident is offered in micro-tiers (PA 200 at 200 THB/year) up to comprehensive plans, while travel insurance includes Worldwide Plus, domestic plans, and an open-close pay-per-day model. The company emphasizes innovation in usage-based pricing and wearable-linked underwriting as differentiators from larger Thai competitors.

The business model is multi-channel: direct digital sales via the Thaivivat mobile app, ecommerce portals (ecommerce.thaivivat.co.th, health.thaivivat.co.th), and the 24/7 hotline 1231; a nationwide licensed agent and broker network; a TTB Bank bancassurance partnership; and a servicing infrastructure of 3,017+ authorized repair shops and 338+ partner hospitals enabling cashless claims. Revenue is generated primarily through annual and short-period insurance premiums across the product portfolio, with ancillary fee income from third-party claims administration. According to 2018 financial data, the company reported net earned premium of approximately 2,977.82 million THB, total income of 3,219.83 million THB, total assets of 5,649.44 million THB, and profit of 110.69 million THB, with 18.59% premium growth year-over-year. More recent annual revenue (2022-2025) is reported in the input but is inconsistent with the 2018 base and headcount, limiting confidence in current scale.

Name

Thaivivat Insurance

Legal name

บริษัท ประกันภัยไทยวิวัฒน์ จำกัด (มหาชน)

Website

https://thaivivat.co.th

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Thaivivat Insurance is a Thai non-life insurance company (SET: TVI), founded 1951, offering motor, health, personal accident, travel, and property insurance to retail and SME customers through digital channels, agents, and a TTB Bank bancassurance partnership, with 3,017+ repair shops and 338+ hospitals supporting claims servicing nationwide.

Ownership category

akta.pro rank

Product category

Non-Life Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

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

akta.pro secondary industries

Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ), Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

Keywords

• Motor insurance
• Health insurance
• Personal accident insurance
• Travel insurance
• Property insurance

Headquarters

HQ city

Phaya Thai

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 Insurance Premiums: Thaivivat earns premiums from motor vehicle insurance policies (Type 1, 2+, 3+, mandatory insurance, and pay-per-drive open-close plans), covering damage, theft, fire, third-party liability, and personal accident. Revenue is collected annually or as per policy terms.
2. Health Insurance Premiums: Health insurance products including Active Health (with fitness-based discounts), Chai Pum Mei Kuen (no-claims refund), Delight, and TTB Health Care Plus, providing inpatient, outpatient, and personal accident coverage. Premiums are annual or monthly.
3. Personal Accident Insurance Premiums: Personal accident insurance policies (PA 200, PA X2, PA Kum Kum, PA Im Jai, PA Bee Jai, PA Sabai Jai) with annual premiums covering death, dismemberment, medical expenses, and income replacement.
4. Travel Insurance Premiums: Travel insurance for domestic and international trips, available as single-trip or annual policies, covering medical expenses, trip cancellation, baggage loss, and flight delays. Also includes open-close travel insurance with pay-per-day model.
5. Property Insurance Premiums: Fire insurance and property insurance for residences and shops, covering fire, lightning, explosion, vehicle impact, water damage, and additional perils. Also includes marine cargo, all-risk property, and burglary insurance.
6. Motor Claims Administration Fees and Third-Party Claims: Revenue from processing third-party motor claims and claim-related services for non-policyholder counterparties. Also earns fee income from settling motor and property claims on behalf of third parties.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Thaivivat Insurance underwrites and distributes a diversified portfolio of non-life insurance products for individual consumers and corporate clients in Thailand. Core lines include motor (compulsory and voluntary), health, personal accident, travel, property/fire, and marine and cargo insurance, sold through digital, agency, broker, and bancassurance channels.

Product overview

Thaivivat Insurance is a Thai non-life insurance company (บริษัท ประกันภัยไทยวิวัฒน์ จำกัด (มหาชน)) offering a comprehensive portfolio of insurance products. The core portfolio spans motor insurance (Types 1, 2+, 3+, Pay-Per-Use with TVI Connect device, and compulsory พ.ร.บ.), health insurance (Active Health with Smart Watch integration, ใจป้ำ มีคืน with no-claims discount, Delight, and TMB ttb Health Care Plus partnership), personal accident insurance (PA 200, PA X 2, PA คุ้ม คุ้ม, PA อิ่มใจ, PA เบาใจ, PA สบายใจ), travel insurance (domestic and international with WorldWide Plus/Asia Plus tiers, plus innovative Open-Close pay-per-use), property insurance (fire, all-risk property, theft), and marine/transport insurance. The company differentiates through technology platforms including TVI Connect for usage-based motor insurance and mobile apps (Thaivivat Motor, Thaivivat Health) for policy management and the Active Health wellness-for-discount program. The product portfolio operates as both standalone offerings and through digital platforms with optional Smart Watch integrations (fitbit, GARMIN, HUAWEI).

Differentiator

Problem solved

Functional benefit

Brands

• Thaivivat Active Health: Health insurance that rewards policyholders for exercising, with integration to smartwatches and fitness tracking devices
• Thaivivat Caring Forward
• TVI Connect
• Jaipum Mie Kuen (ใจป้ำ มีคืน)
• Thaivivat Health App
• Thaivivat Motor App

Products and services

• Motor Insurance Motor insurance coverage (compulsory and voluntary classes) for Thai car owners, providing protection against vehicle damage, third-party liability, and statutory compulsory motor coverage.
• Health Insurance Health insurance for individuals, including coverage integrated with smart watch functionality for activity and health monitoring.
• Personal Accident Insurance Personal accident insurance for individuals and groups, providing coverage against injury, disability, and death due to accidents.
• Travel Insurance Travel insurance for Thai travelers, covering overseas medical expenses, trip cancellation, and travel-related risks.
• Property Insurance Property/fire insurance for homes and commercial properties, covering fire and allied perils for retail and corporate customers.
• Marine and Cargo Insurance Marine and cargo insurance covering goods in transit, marine hull, and related shipping exposures for commercial clients.
• TVI Online Digital Platform Proprietary digital platform and mobile application that enables customers to purchase insurance policies, manage accounts, file claims, and access support online.

Quantifiable outcome

• Pay-per-drive motor insurance can save up to 70% on premiums compared to traditional annual policies
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

One partnership is on record.

• TTB Bank (Thanachart Bank / ธนาคารทหารไทยธนชาต จำกัด (มหาชน))coreChannel Partner/ Reseller/ DistributorTTB Bank serves as a bancassurance channel partner, cross-selling Thaivivat health insurance products (specifically TTB Health Care Plus) through its branch network across Thailand. TTB Bank acts solely as an insurance broker and is not the direct insurer. Thaivivat is the underwriting insurer.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Bangkok Insurance: One of Thailand's largest general (non-life) insurers offering motor, health, fire, marine, and personal accident products. Directly comparable to Thaivivat's product portfolio with longer SET-listed history and larger scale.
• MSIG Insurance (Thailand): Regional P&C insurer operating in Thailand with motor, fire, marine, and accident products. Comparable multi-line non-life insurer with international backing and corporate client focus.
• Muang Thai Insurance: Thai non-life insurer offering motor, health, travel, and property insurance with bancassurance tie-ups. Direct competitor with similar multi-channel distribution strategy.
• Dhipaya Insurance: Thai P&C insurer with motor, fire, marine, and miscellaneous insurance products. Comparable mid-sized Thai non-life insurer with overlapping distribution channels including agents, brokers, and bancassurance.

Emerging players

• Roojai: Thai insurtech focused on digital-first motor and health insurance. Competes with Thaivivat in the retail motor segment with streamlined online purchase and claims experience.
• Sunday Insurance: Thai digital insurer offering usage-based motor and health products. Closest direct competitor to Thaivivat's TVI Connect and Active Health innovations from a digital-native angle.

Broad incumbents

• AXA Insurance Thailand: Global insurer's Thai subsidiary offering motor, health, and property insurance with broader portfolio and digital capabilities. Competes with Thaivivat across most non-life lines with stronger brand recognition.
• Tokio Marine Safety Insurance (Thailand): Japanese insurance group's Thai subsidiary offering motor, fire, marine, and accident insurance. Comparable multi-line insurer with regional expertise and corporate/commercial strengths.
• Sompo Insurance Thailand: Japanese insurance group's Thai subsidiary offering motor, fire, and miscellaneous insurance products. Comparable multi-line non-life insurer with bancassurance and corporate client focus.
• Chubb Insurance Thailand: Global P&C insurer operating in Thailand with personal accident, motor, travel, and property products. Competes with Thaivivat in retail and SME segments with stronger international brand.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC12345678
• Facebookfacebook.com/thaivivat

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 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 Thaivivat Insurance