In this episode, Michael Waitze discusses the state of the Thai InsurTech market with Panu Boonyakiat, Co-Founder of Claim Di, Firras Sabbah, Founder of Go! Insurance, Harprem Doowa, Co-Founder of Frank.co.th and Nicolas Faquet, CEO of Roojai.com.
The panel covers much ground, including how the Office of Insurance Commission (OIC) continues to work with InsurtTechs to ensure that the market for their products continues to expand while also providing the proper amount of consumer protection. Furthermore, they discuss the importance of the balance between privacy and security while purchasing an insurance product. How to achieve this balance in the most efficient way possible.
The group also discussed in detail the best ways for incumbent insurers to work with the startups and what the issues were that made that challenging. Across the board, the startup founders believed that the biggest challenge was speed…larger companies tend to move slower and with more caution, while smaller companies tend to take more risk and move faster. Again, striking a balance is key.
The panel finished its discussion with some commentary on both the possibility of maintaining their own balance sheets and the likelihood of regional expansion.
Other companies mentioned in this conversation:
Amazon, Acko General Insurance, Allianz
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