Generali Thailand wants to sustain double-digit growth in the second half of the year, driving gross written premiums (GWP) for the Thai unit of the Italian insurer to surpass 15 billion baht for the year.
The company reported robust 17% growth in GWP during the first six months, said Arsh Kaumi, country manager and chief executive of Generali Thailand, demonstrating its ability to evolve with the changing financial and lifestyle needs of Thai consumers.
Generali expects to maintain double-digit growth through the remainder of the year, underlining the company’s ambition to become a market leader in Thailand’s competitive insurance sector, he said.
“The Thai insurance market in the second half of 2025 remains challenging amid a sluggish economy,” said Mr Kaumi.
“Our key strategy to drive business growth is offering products that truly meet customer needs, solutions that deliver real value, supported by the right sales channels.”
GWP is projected to surpass 15 billion baht this year, comprising roughly 14 billion from life insurance and 1 billion from non-life business.
The company ranks ninth in Thailand’s insurance market, with strong performance from health and protection products anchoring its portfolio.
He said several factors are fuelling growth in the Thai insurance sector despite broader economic headwinds: greater awareness of financial planning, rising medical costs due to medical inflation, and a growing trend among younger generations to purchase insurance earlier for long-term security.
Government initiatives to promote health and life insurance products have also encouraged broader public participation.
“Thailand is a strategic market full of potential, especially in health insurance, as the country becomes an aged society,” said Mr Kaumi.
“We are pleased to see the government’s efforts to make health insurance more accessible and affordable. Healthcare should be something everyone can access, and we are developing affordable plans to make that possible.
“Everyone should start with a health insurance plan they can afford. After Covid-19, people have become far more conscious of their health and financial preparedness.”
The company reinforced its multi-channel distribution network through bancassurance partnerships with financial institutions, expanded agency channels with digital tools, and strengthened collaborations with brokers nationwide.
“Among all channels, our agency network continues to deliver the strongest sales growth,” he said, adding the company is investing heavily in digital innovation to enhance both sales efficiency and customer experience.
One such initiative is the GenWings application, designed to improve agent productivity through automated premium calculations and real-time data access.
The GEN 365 platform has transformed digital claims handling and policy management, allowing the company to process around 1 million claims a year, 90% of which require no upfront payment, with most settled within 30 minutes, said Mr Kaumi.
The company is accelerating its investment in digital distribution, particularly in travel and health insurance products targeting younger, tech-savvy consumers.
In the fourth quarter, new products will be launched not only for tax saving purposes, but also long-term financial and retirement planning, he said.
Generali’s product portfolio increasingly focuses on health protection, critical illness coverage, and unit-linked plans that encourage long-term savings discipline, said Mr Kaumi.
In Thailand, Generali employs more than 800 people.
“At Generali Thailand, we’re building a workforce ready for the digital future by integrating artificial intelligence-driven learning, data analytics, and continuous leadership development,” he said.
“We also embrace diversity, equity and inclusion as a core part of our corporate culture, fostering innovation, collaboration, and trust across teams and business partners.”