InsureX Sets Ambitious Growth Targets Following Rebrand
InsureX, formerly known as SCB Protect, has announced a strategic pivot and ambitious financial goals, aiming to secure 10 billion baht in combined life and non-life insurance premiums by 2030. This significant rebranding reflects the company’s evolving approach to customer engagement in an increasingly intricate financial and insurance landscape.
Shifting Focus from Products to Holistic Protection
Chief Executive Napatcha Pongwattanakitkul explained that the transformation signifies a move away from a product-centric model to that of a trusted protection advisor. The company now aims to offer holistic solutions meticulously tailored to the evolving life stages and needs of its clientele.
“Our goal is to move beyond simply selling insurance policies and focus on delivering comprehensive protection planning that helps customers manage financial, health, and lifestyle risks over the long term,” stated Ms. Napatcha. This new direction is underpinned by the company’s proprietary “360 Protection Planning” framework.
Comprehensive Protection Planning Framework
The “360 Protection Planning” framework integrates both life and non-life insurance offerings to create a unified protection plan. This approach is designed to address critical customer needs, including health protection, critical illness coverage, savings, retirement planning, and wealth preservation.
Targeting Growth Segments with Personalized Solutions
InsureX is specifically targeting the mid-range to affluent market segments within Thailand, identifying these as areas with the greatest growth potential in the current insurance market. Analysis indicates that while demand for long-term financial planning and protection products is on the rise, this segment remains relatively underpenetrated. Consequently, these consumers are increasingly seeking trusted advisors who can provide personalized recommendations rather than engaging in product-driven sales tactics.
To meet these evolving demands, the company is actively leveraging artificial intelligence (AI) and data analytics. This technological integration is crucial for developing hyper-personalized insurance solutions, ensuring customers receive the most appropriate protection products at the right time, thereby enhancing the overall customer experience.
Omni-channel Distribution and Advisor Expansion
InsureX is implementing a robust omni-channel distribution strategy. This approach combines the expertise of professional insurance advisors with the reach of digital platforms and telesales operations. The aim is to improve accessibility and engagement while ensuring that customers receive advice that is precisely tailored to their individual financial circumstances and protection requirements.
The company has also outlined plans to significantly expand its team of insurance advisors. The current number of 550 advisors is projected to grow to 5,000 by 2030. This expansion includes a focus on cultivating highly qualified professionals, with a target of 200 Million Dollar Round Table (MDRT) and Top of the Table (TOT) qualified advisors, reinforcing the commitment to superior professional advice and customer service.
Projected Growth and Market Drivers
In 2025, InsureX reported serving over 600,000 customers and generating 4.3 billion baht in combined premiums. The company’s projections for 2030 include a customer base expansion to 1 million individuals and a more than doubling of premium volume to 10 billion baht.
Company insights suggest that Thailand’s demographic shift towards an aged society, coupled with the continuous expansion of the middle class, is fueling a strong demand for health insurance, critical illness coverage, retirement-focused products, and long-term financial planning solutions. These underlying structural trends are expected to sustain growth within the insurance sector, even amidst economic headwinds and elevated household debt levels.
By enhancing its advisory capabilities, broadening its customer reach, and investing in AI-driven personalization, InsureX anticipates solidifying its position as a leading protection advisory provider in Thailand.
