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June 23, 2020

Thai insurance regulator to roll out comparison website

By Johney Amala

Thailand’s insurance regulator Office of Insurance Commission (OIC) is reportedly set to launch a website that can help people search and compare insurance policies before they can make an online purchase.

According to a report by Asia Insurance Review, the website, dubbed as Insurance Guru, is slated to be rolled out towards the end of next month.

OIC secretary generalDrSuthiphonThaveechaiyagarnwas quoted by news website as saying that as the society has forayed intothe digital economy era,more insurance transactions are being carried out online.

Insurance Guru is expected to help people choose insurance policies that meet their needs. It will also enable buyers to study the clauses of coverage, including exclusions.

The Insurance Guru website will reportedly reveal information on insurance policies offered through electronic channels.  It will also allow buyers to find the names of operators that have received regulatory approval to offer policies online.

Insurance transactions are now increasinglyturning online, especially in the wake of the Covid-19 pandemic.

Earlier this year, MS&AD Insurance Group Holdingspartnered Seven-Eleven to sell life insurance products through convenient stores in Japan, in a bid toavoid face-to-face sales.

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