Rabbit Life Insurance Plc is enhancing its services and sales through a new online platform to accelerate growth in the second half of the year, noting that 88% of the population are actively using online services.
By capitalising on digital insurance and the new lifestyles of consumers, the company will be able to expand its growth potential, said managing director Korn Chinsawananon, adding that Rabbit Life is aiming for sales growth of more than 50% in 2024.
The insurer launched online sales channels in 2022 and since then has enjoyed continuous growth. From January to April, sales via online channels soared 90% year-on-year, aligning with the current trend of consumers integrating digital technology into their daily lives, he added.
According to a survey by We Are Social, Thailand has 63.2 million internet users, which represents 88% of the total population. This reflects the evolving behaviour of consumers and their diverse needs, particularly their expectations for technology that can provide convenience and rapid service.
"As an insurance provider for the modern generation that thinks differently, to elevating lives with easy to understand and relevant life insurance, Rabbit Life Insurance has proceeded to upgrade its services and sales channels for purchasing products online. This is to deliver the best possible experience to customers, reinforcing our position as a leader in online life insurance that caters to every need," he said.
The company has revamped its online platform, introducing a modern and user-friendly design with functionalities tailored to meet customer needs. The platform now offers self-service options available 24/7, providing a convenient alternative for customers to purchase products and access comprehensive services.
These services include personal data collection, analysis and product recommendations that effectively address customer requirements.
Mr Korn also highlighted Rabbit Life's five strategic pillars to meet every need, comprising optimal returns, optimal versatility, optimal value, optimal coverage and optimal user experience. These strategies solidify its brand leadership in online life insurance, fulfilling all customer needs, he said.
"Rabbit Life is committed to enhancing our service delivery to provide a convenient, straightforward and accessible insurance product purchasing experience for everyone. We aim to reinforce our position as the leading online life insurance provider, catering to all their needs," he added.
By adapting to consumer trends, the company anticipates significant business growth, with online sales channels boosting overall sales by more than 50% this year.