Hiscox Group expanded into Thailand by acquiring DirectAsia in 2014. Subsequently, the company inherited over 100+ years of experience and best practices in the insurance industry. Hiscox is listed on the London Stock Exchange and is an A-rated business with significant capital strength and is well known for offering specialist insurance products such as high-value household and motor, small business, and fine art insurance. In Thailand, DirectAsia’s primary business is car insurance.
Voravudh Varikarn, the CEO of DirectAsia Thailand, shares, “As the first digital car insurer in Thailand and we are proud to now be celebrating our seventh year. On average, we have been growing 50% annually. It is all due to our steadfast commitment to serving our customers online and onboarding partners to support the process. Our iON Go partner has helped us to identify the good drivers and rewards them. We have collaborated with Shell, KTC, and Priceza. One of our customers’ favorite privileges is provided by our partner, Wizard Car Care.”
DirectAsia has accumulated over 300,000 policies and employs 160 people. The company’s solid technical infrastructure facilitates an efficient operation, requiring less staffing. By 2025, the management team’s goal is to be the #1 digital car insurance broker in Thailand.
On the B2B side, DirectAsia sealed the deal with True Leasing for 30,000 policies for its car and service fleet. Renowned for its unbeatable value and service, the insurer has a network of 1000+ garages in the country, and 365 are located in Bangkok. One of their main objectives is to constantly increase the number of garages and dealers available to their customers. The brand continues to expand the partnership and service network to support the customer base and its growing business.
“In September this year, we received the prestigious ‘Motor Insurance Initiative of the Year – Thailand’ from Motor Insurance Initiative, a leading auto insurance organization. The team and I are grateful for this recognition. Our customers are at the heart of everything, and the company’s goal is to continue to enhance the online journey and make the process hassle-free. With Easy Quote, Easy Renewal, and Easy Fix services, we continue to strive in that direction and evolve our process to be the #1 digital car insurance broker by 2025,” Khun Voravudh said.