Improved digital insurance experiences and innovative apps wanted by Thai consumers

89% of Thai consumers surveyed would share personal data to receive more personalized insurance products or premiums

BANGKOK, September 21, 2021 – Thai consumers are looking for a better digital experience from their insurers, according to a new survey from Capco, the global technology and management consultancy. No less than 85% of Thailand-based policy-owning respondents said they wanted to see online services improved. 

An even higher number (89%) of policy-owning respondents would share their personal data to get a more personalized insurance product or premium. 86% of policy-owning respondents said they would welcome an app that gave better visibility across all their financial products and provided tailored insights. Owners of multiple  policies were the most enthusiastic (91% of such respondents), followed by female policyowner respondents (90%). 

Capco, a global technology and management consultancy, surveyed just over 1000 Thai consumers to gauge their impressions of insurance products and providers to capture public attitudes toward consumer insurance, the key products and services used, and emerging trends. The results form part of a larger survey of some 14,000 consumers across 13 markets globally.

Additional findings in our Thailand survey include:

  • The appetite for insurance services is strong in Thailand, with 78% of policy-owning respondents answered that they were ‘likely’ or ‘very likely’ to increase or purchase additional insurance coverage in the coming 12 months. Of the 29% of respondents who claimed on a policy in the past two years, 86% were happy with the claims process. 
  • 59% of respondents said they trusted the industry even more than before COVID-19. However, a third of respondents (34%) collectively responded ‘not sure’ or ‘no’ when asked if their existing level of policy protection was appropriate post-pandemic – indicating an opportunity for insurers to proactively engage with their customers throughout the policy term.

When it comes to sharing personal data, the most popular choice among Baby Boomers aged 55+ was to have a health or fitness test (70% of that demographic). For everyone below that age (and above 18 years) the strongest preference was to share social media data – 54% of all our Thai respondents chose this option. This compares to 36% overall among Hong Kong respondents and 34% of Singaporean Baby Boomers aged 65+  (within which age group this was the most popular option). 

Chulayuth Lochotinan. Head of Thailand at Capco, said:

“As COVID-19 infections in Thailand have surged this year insurers have looked to innovate, introducing COVID-19 vaccine insurance and policies to cover work from home related syndromes. Elsewhere, others have repackaged their non-life products to cover both home and car in the same package, or are using telematics to personalize motor insurance premium based on usage and driving behavior – and most of these can now be purchased online. In line with our global findings, leading insurers in Thailand are finding ways to innovate and digitize their products to meet current consumer behaviours. Increased digital customer touchpoints mean insurers can understand their customers better through data-driven insights and create higher customer value by offering personalized products. This a clear and present opportunity, given that financial transparency and service aggregation are both valued by Thai consumers.”


About Capco

Capco, a Wipro company, is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. With a growing client portfolio comprising of over 100 global organizations, Capco operates at the intersection of business and technology by combining innovative thinking with unrivalled industry knowledge to fast-track digital initiatives for banking and payments, capital markets, wealth and asset management, insurance, and the energy sector. Capco’s cutting-edge ingenuity is brought to life through its Innovation Labs, and award-winning Be Yourself At Work culture and diverse talent. To learn more, visit or follow us on Twitter, Facebook, YouTube, LinkedIn Instagram, and Xing.

Survey methodology

The survey was conducted online in April and May 2021 and polled 1000 Thai respondents and a total of 13,798 respondents globally. The Thailand gender split was 48% male and 52% female. The markets surveyed were Thailand, Singapore, Hong Kong, China, Malaysia the UK, US, Canada, Brazil, Germany, Austria, Switzerland and Belgium. Country representative quotas were followed. Survey respondents were drawn from six age demographics: 18-24, 25-34, 35-44, 45-54, 55-64, and 65+. Globally, 49% of respondents identified as male, 50% identified as female, and 1% identified as other.