Although Thailand's economy has slowed, potentially slowing overall insurance business growth, " Jeeraphan Asawatanakul, Chief Executive Officer of Thaivivat Insurance Public Company Limited, still sees that the insurance market cake in Thailand holds vast opportunities, depending on how well products can be designed to meet people's needs.
Both motor insurance, the company's stable base accounting for 70-80% of total premiums, and the non-motor insurance market have much room to grow by attracting those without insurance and using cross-selling strategies from higher-premium motor policies to expand non-motor sales.
On the other side, Thepphan Asawatanakul, Deputy Managing Director of Thaivivat Insurance Public Company Limited, said the company currently has 1 million policies. In the first half of 2026, motor insurance grew 7% and non-motor insurance grew 15%. Overall, the company expects premium growth of more than 10% this year, supported by the fourth quarter when premiums peak due to tax incentives and other factors.
This year's main strategy moves beyond just peace of mind toward quality of life, focusing on helping people live better through services and coverage that meet lifestyle needs. On the motor side, Crash Detection technology will be introduced to automatically detect accidents using smartphone sensors combined with an algorithm. When an impact meeting accident criteria is detected, the Thaivivat app notifies users to confirm if they need assistance. If confirmed, the system sends GPS coordinates to the operations center to coordinate help immediately.
Additionally, the company offers an innovative pay-per-use car insurance product launched 10 years ago, now with over 400,000 policies and a 90% renewal rate, effectively meeting customer needs.
On the non-motor side, the portfolio expands with three products: Active Health health insurance; TVI Homie Care home insurance, which includes coverage for modern lifestyle elements such as pets and EV chargers; and TVI Smart Delay travel insurance covering flight delays.
However, on 20 Aug 2026, Thaivivat Holdings Public Company Limited (TVH), the parent company of Thaivivat Insurance Public Company Limited, completed a major deal acquiring newly issued ordinary shares of Thoon Insurance Public Company Limited (Private Placement) representing 25.1% of Thoon Insurance's total shares, valued at over 60 million baht.
Jeeraphan explained that TVH invested to expand the non-motor market, especially travel insurance, which is Thoon Insurance's strength (serving AirAsia). This will increase both business partners and the insurance market size. The company is also looking for new investment opportunities beyond insurance, within the regulatory framework of the Office of Insurance Commission and maintaining required capital levels.
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