Insurance broker We Digital Insurance has launched the one-stop We Care platform in collaboration with the financial consultancy KTBST Securities and the software developer AppMan.
Yanee Potibowtong, chief executive of We Digital Insurance, said the platform helps facilitate the company's expansion into insurtech.
As a platform focused on health and wealth coverage, We Care has diverse offerings including life, fire and motor insurance. Ms Yanee said thanks to its partnerships, the platform is able to provide products from other companies including AIA, Thai Life Insurance and Muang Thai Insurance.
Ms Yanee said a major stumbling block for policyholders is redundancy, as they sometimes unknowingly buy insurance products with similar or unsuitable protection.
She said We Care has a financial health check feature that helps its users find a suitable plan and manage existing plans. After obtaining information concerning the user's life circumstances and current policies, the app suggests a list of products to cover any aspects of life that customers lack.
Ms Yanee said the feature is inspired by her own experience with insurance products. She had a child at the age of 41 and was unsure if she would be around for the child's graduation.
Ms Yanee was recommended whole-life insurance by her broker, but she later realised this was a mistake. She said she should have signed up for term insurance instead, but did not know about it.
Aside from being a digital insurance adviser, the platform also offers a visualisation of existing policies and their coverage to help customers compare different products and make informed decisions, said Pak Radditham, director of operations at AppMan.
"In this highly volatile economy, investing poses great risks. A good financial plan needs to go beyond just investing in assets, but also planning for health and wealth protection for true security in life and assets," said Ms Yanee.