Viriyah Insurance, Thailand’s largest non-life insurer, is charting a course into the digital era by placing artificial intelligence (AI) at the centre of its long-term strategy in order to retain its leading market position.
The company expects to record 42.6 billion baht in direct premiums this year, growth of 3.7% year-on-year. As of August, the company earned 28.1 billion baht in premiums, up 5.53% year-on-year.
With a market share of 14.5%, Viriyah has maintained its leading position in the non-life insurance segment, said managing director Amorn Thongthew.
Thailand’s non-life insurance industry continues to show resilience amid an economic slowdown, volatile politics and rising natural disaster risk, he said. In the first half of 2025, the sector recorded direct premiums of 146 billion baht, up 3.4% year-on-year, supported mainly by growth in accident, health and fire insurance.
“Viriyah has consistently outpaced the industry thanks to customer trust in our comprehensive services,” said Mr Amorn.
During the first eight months of 2025, motor insurance contributed 24.7 billion baht in premiums, up 4.5% year-on-year, for a 23.3% market share, while non-motor insurance surged 13% to 3.4 billion, accounting for a 3.74% share.
For the remainder of the year, the industry could face slower growth without government stimulus, he said. However, Mr Amorn said Viriyah remains confident of achieving its 2025 target of 42.6 billion baht in premiums, comprising 37.6 billion from motor insurance, up 3.3% year-on-year, with non-motor insurance soaring 11% to 4.98 billion.
“Our focus this year is to build a stronger balance between motor and non-motor products,” he said. “We remain committed to delivering ‘more than protection, true value’ for customers through every service touchpoint.”
THREE STRATEGIC PILLARS
Viriyah’s growth strategy is anchored on three core goals. The first is elevating service quality across omnichannel touchpoints to ensure seamless, convenient experiences for both online and offline operations.
Second, the company is expanding business ecosystem by increasing partnerships in electric vehicle (EV) claim services nationwide, specialised repair networks, and exclusive privilege programmes from 65 to 80 partner brands. The final focus is on human capital with efforts such as building leadership pipelines and equipping its 7,000 employees with skills in AI, EV-related technologies, and digital services under a lifelong learning framework.
Viriyah is accelerating its digital transformation through insurtech initiatives by leveraging over 78 years of experience and a database of more than 8 million policies to enhance product design, claims management, and risk mapping, he noted.
The company is also launching behaviour-based products, including PayLite, a usage-based motor policy for light drivers, and 2+ Good Drive, which refunds 30% of premiums to safe drivers who don’t make any claims.
To build its AI-driven future, Viriyah has engaged global consultancy Roland Berger to design its information and data architecture as part of a long-term digital roadmap.
In 2026, Viriyah targets growth in line with the overall industry, similar to this year’s growth andthe company has vowed to further speed up health insurance claims processing, expand EV repair networks nationwide, and roll out new products to address emerging risks, such as cyber insurance and property coverage for solar panel usage.
“Viriyah Insurance is about more than just car insurance. Our mission is to provide comprehensive protection for every aspect of our customers’ lives, combining human service excellence with AI-powered innovation,” said Mr Amorn.
In the medium to long term, the company sees AI as the most transformative force shaping the Thai insurance industry, one that will redefine customer, partner, and insurer experiences across the board while keeping people at the heart of service delivery.