Ep 14 – Nadia Suttikulpanich – Fuchia Innovation Center for Muang Thai Life Assurance – It All Starts With the Consumer

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Michael Waitze has been podcasting with some of the best investors and business builders globally and discussing all things startup with them from an Asian perspective. Michael worked in Global Finance for more than 20 years, employed by firms like Citigroup, Morgan Stanley, and Goldman Sachs, primarily in Tokyo. Michael always maintained a particular focus on how technology could be used successfully to make businesses more efficient and to drive P/L growth. Michael is quite skilled at connecting people and capital to innovative ideas and is a trusted advisor to both investors and founders. Michael is a leader in the digital media space, having pioneered the concept of a podcast network in Asia while building the biggest and fastest-growing listener base in the region. His flagship website, AsiaTechPodcast.com, has listeners in over 100 countries and is available on virtually every podcast player that supports RSS feeds.

Nadia Suttikulpanich, head of Fuchsia Innovation Centre and Fuchsia Venture Capital for Muang Thai Life Assurance (MTL). She drives development and engagement between people and business through innovation from both tech and non-tech perspective. She wants to change the paradigm of insurance by making it more accessible and inclusive through the use of relevant data and healthcare technology. Fuchsia team have launched Asia’s first dynamic pricing health insurance coverage for diabetics and first health insurance coverage through telemedicine.

This episode is brought to you by:

Nadia Suttikulpanich is the Head of Fuchsia Innovation Center for Muang Thai Life Assurance Public Company Limited.  Fuchia focuses on initiating innovations and embracing changes with businesses and start-ups that emphasize consumer needs. Prior to launching Fuchia, Nadia worked for Unilever for 8 years also focused on innovation.  While there, innovation is most effective when it is consumer-centric as opposed to being technology-centric.

Fuchia was founded to accelerate innovation and to invest in it as well.  Its two arms, Fuchsia Innovation Center and Fuchia Venture Capital were created to do just that.  Implementing the idea of trying before buying helps Muang Thai Life Assurance understand which new companies and technologies are most effective, sometimes using itself as a live test-bed. The Company previously invested in Health at Home, a start-up that provides basic primary care training to registered nurse to customers’ place by acting as a reverse of telemedicine. 

Nadia notes the different views people have about non-life insurance and life and health insurance and this impacts product penetration in the Tha market.  She also mentions the impact a rapidly aging society have in changing the insurance landscape. 

Companies mentioned in this episode:

Muang Thai Life

Health at Home

GoJek

Author: Chadhaporn Angpraphapornchai

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