Ayudhya Capital Auto Lease, known as Krungsri Auto under Bank of Ayudhya (BAY), launched an online insurance distribution channel on Tuesday, aiming for 200 million baht in motor insurance premiums for the first year.
The company also targets 300,000 visitors a month to the online channel developed by its insurance broker arm, Krungsri Auto Broker, chairman Pairote Cheunkrut said.
The auto lender plans to extend insurance products available on the online channel to home and factory insurance in the beginning of next year and life insurance by the end 2020, he said.
He said digital platforms have increasingly become a vital part of shopping experiences and Bain & Company's survey found that around 60% of non-life insurance customers have used mobile devices for product research.