Thailand

High demand for health insurance due to Covid-19 worries, premiums expected to rise

Published

Monday, January 18, 2021 17:06

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PHOTO: The Daily Targum

With the increasing demands for health insurance due to people’s worries over Covid-19, health insurance premiums are expected to grow 1.59% this year, according to the Insurance Commission.

Commission secretary-general Suthipol Taweechaikarn says total premiums will see 101 billion baht revenues this year, an increase from 99 billion baht last year. He adds that the Covid-19 situation is a major factor in higher demand for health insurance policies as medical expenses are likely to increase every year.

Some insurance companies in Thailand have also found an increasing demand for health coverage policies among their customers, especially those with high purchasing power.

Deputy CEO of Tokio Marine Life Insurance Thailand says the company will offer annual premiums starting at 15,000 baht.

“The company aims to increase health insurance premiums to 50% this year from 40% last year.”

Cigna Insurance CEO says the company will use digital technology for product and service development to meet customers’ demands in the new normal lifestyle.

SOURCE: Nation Thailand

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