Bangkok Life Assurance to make a change with 2018 strategy

     ​ Bangkok Life Assurance (BLA) announced its 2018 strategy focusing on development of financial products, distribution channels, digital platform and personnel to meet all the needs of our customers and help to sustainably raise the standard of living. The new strategy comes with the theme “Make a Change”.
     ​ Mr Vipon Vorasowharid, President of Bangkok Life Assurance Pcl., said: “During the past year, our Company had continuous growth in many aspects. Our first year premiums from major types of insurance policies increased by 18% from the previous year. The number of our insurance agents and financial advisors has grown stronger than expected with over 10% growth. We also focused on building and developing the quality of our agents, as a result, we have more than 100 professional financial advisors with CFP® and AFPT™ certifications. And importantly, our operating performance has been completely stable and secure with the capital adequacy ratio at 252%, which is above the regulations requirement.
     ​ Regarding the business plan for 2018, BLA aims to contribute to a better and sustainable standard of living for the people with the concept of “Make a Change”. Accordingly, there will be changes and development of the infrastructure and technology of our business, including operational management, service facilities, product development and distribution channels as well as strengthen business partnerships, and educate consumers on financial planning, in order to reinforce its position as the leader in integrated financial planning services.
     ​ Moreover, BLA has developed an online insurance one-stop service platform for transactions and applications, including “Smart Customer”, an online customer service system that enables customers to easily manage personal data and check their policy coverage and investment information anywhere and at all times for greater convenience.
     ​ As for innovation development, the Company will embrace new technologies and develop platforms to fully reflect the expectations of digital-era consumers. Bringing in new technology is fundamental toward more productivity and efficiency, especially new products development for online sales to expand business opportunities. The Company also develops various services and other online channels such as applications, creating a better experience for both customers and agents.
     ​ In the aspect of personnel development, BLA will continue to emphasize the development of professional teams of financial advisors, to raise competency and support them to reach their full potential with various training courses. 
     ​ Mr Vipon said: “To create a strong foundation for future growth, BLA will operate with customer-centric approach. We’re determined to meet the needs of diverse target groups and develop our personnel in keeping with good corporate governance principle that reflects our long-term commitment and is the driving force for our success.”
     ​ BLA is confident that its “Make a Change” strategy will enable the Company to bring new changes to its operating performance this year and will be an important factor in achieving its sustainable development goals along with improving the lives of people for a better future.

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