Nation Thailand
Thaivivat Unveils AI Crash-Detection System as Profits Surge 102%
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Thaivivat Insurance marks 75 years with an AI crash-detection launch, as parent Thaivivat Holdings posts 102% profit growth and eyes double-digit growth.
Key facts
- Thaivivat Insurance Public Company Limited marked its 75th anniversary on Tuesday with the launch of an artificial intelligence-powered crash-detection system, unveiling the technology as its holding company reported a 102% jump in net
- policy offering premium discounts of up to 40% for policyholders who exercise regularly, developed with partners such as Garmin and Decathlon; a home policy, "TVI Homie Care", that extends cover to pets and electric-vehicle chargers; and
- car insurance, introduced ten years ago and now covering more than 400,000 policies across all 77 Thai provinces, with premiums calculated on actual driving time and savings of up to 80%.
- Thaivivat Holdings, the group's parent company, reported a 102% year-on-year jump in first-half net profit.
- Insurance service revenue also rose over 34%, driven primarily by non-motor lines like health, cancer, accident, and travel cover
- He said motor insurance, which still accounts for roughly 70–80% of the group's premium base, grew 7% in the first half, while non-motor lines expanded 15%, helped by low average premiums that make policies accessible to a wider customer
Summary
Thaivivat Insurance Public Company Limited marked its 75th anniversary on Tuesday with the launch of an artificial intelligence-powered crash-detection system, unveiling the technology as its holding company reported a 102% jump in net profit for the first half of the year, comfortably outpacing the broader Thai insurance market.
Speaking at the "Thaivivat Next Move — Driving the Future of Motor Insurance" event in Bangkok, Thepphan Asvatanakul, senior executive vice president and director of Thaivivat Insurance, said the company was repositioning insurance from a product bought for reassurance into one woven into everyday life.