Rapid fire with Vithaya Charnpanich, former Chief Agency Officer, Krungthai AXA, Prudential Thailand Life

1. How has COVID impacted the insurance industry in Thailand?

Consumers were scared to meet salespeople and this forced companies to deploy digital sales platforms to facilitate sales. This learning curve has helped the industry discover new ways of selling, and it is here to stay.

2. What are key takeaways from the pandemic, for insurance agents ?

It is a struggle for agents to survive in this competitive market, it always has been. The pandemic has taught them to get comfortable with digital devices and familiar with online processes. With face-to-face engagements starting again, we are in a new normal for sales which will balance both online and offline, and I think this is a good development.

3. From an agency perspective, what are the areas in the workflow that need immediate digitizing?

The ultimate goal is to make customer experience better through digitization. At Krungthai AXA, we are adopting digitization to accelerate agency sales, empower the sales teams with data to sell better to our customers.

4. Looking into the future, how will the agency workflow change in the next decade?

The systems will be more accessible and effective. We will continue to invest in tools to strengthen sales performance. At Krungthai AXA, we have a diversified customer profile across generations, so while there will be digital transformation, it will be a steady one to accommodate our diverse customer profile.