Insurance company to cover Lao drivers in Thailand
Insurance company to cover Lao drivers in Thailand
Dhipaya Insurance Co., Ltd, will offer cover for Lao drivers in Thailand, the company announced at a press conference on Tuesday in Vientiane.
As the first Thai insurance company in Laos, the firm said the move was responding to customer demand and also the reality of the pending Asean Economic Community (AEC) at the end of the month.
“Lao people who purchase TIP AEC insurance with the company won't have to worry about insurance when they drive their car to go shopping or travelling in Thailand because the company has a call centre to provide 24 hour service,” the company's Managing Director, Mr Boonchai Boonyanurak said at the press conference.
Customers are able choose from different types of cover: Silver AEC, Gold AEC and Premium AEC.
Customers will also have other benefits such as personnel accident insurance, 50,000 kip per day compensation during treatment at a hospital and management of accident cases involving their vehicles.
“This new insurance product is a great achievement for the company in contributing to the relationship and connection between Laos and Thailand,” Mr Boonchia said.
Over the last two years in Laos the company had paid particular attention to expanding services and developing products to access all customers, he explained.
“The company has cooperated with the Agricultural Promotion Bank to offer insurance for customers around the country and created insurance agencies in Laos”.
The company is also planning to expand the number of service units in different provinces and to cooperate with local companies and banks.
With the growth in the Lao economy, investment and tourism, he expected the company's growth rate to increase by about 200-300 percent in the next few years.
“To reach the target the company will try to develop new innovative products and services in Laos,” Mr Boonchai said.
He wasn't concerned about new entrants into the Lao insurance market as more companies would lift service standards overall which would benefit customers.
The company's main products include motor insurance, fire insurance, marine and transportation insurance, as well as miscellaneous insurance.
