In this episode, Michael Waitze spoke with Dr. Suthiphon Thaveechaiyagarn, the Secretary-General of the Office of Insurance Commission. The OIC regulates and supports insurance companies and startups in Thailand. Dr. Thaveechaiyagarn studied law at Thammasat University and was honored with a scholarship to study at Harvard University.
Dr. Suthiphon notes that technology is the biggest trend in InsurTech right now. He explains the rule of the OIC as a regulator for insurance companies in Thailand. They support all kinds of insurance companies that are operating in Thailand and want to run their business here. He moves on and speaks about the different insurance companies, varying from small startups to large established firms.
Dr. Suthiphon talks about best international best practices he sees and mentions Artificial Intelligence as the best way to analyze data and assistance for development. In terms of InsurTech developments, the Secretary General explains that the future is not only local startups or international startups, it is a combination of both and gives insight into the OIC Insurtech Awards, which are held every year and the potential of a Fintech event in Thailand.