Thailand Insurance Industry and Market Segmentation

1. INSURANCE
INDUSTRY
TEAM ARKA NAKY

2. NATURE OF
INDUSTRY
• Companies that offer risk
management in the form
of insurance contracts
• The basic concept of
insurance is that one party,
the insurer, will
guarantee payment for an
uncertain future event
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3. AIA Group Ltd
Allianz SE
AIG
AXA
WORLD'S TOP
10 INSURANCE
COMPANIES
Feb 6,2020*
Berkshire Hathaway China Life Insurance
ING Group Ping An of China
Prudential Financial MetLife

4. INSURANCE TYPES
Life Insurance
Health Insurance
Disability Insurance
Auto Insurance
Home Insurance
Travel Insurance
Marine Insurance
Fire Insurance
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5. CONSUMER MARKET
VS
BUSINESS MARKET
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6. CONSUMER
MARKET
BUSINESS
MARKET
B2C B2B
Type Of
Customer
Buying
Decision
Making
Nature of
Buying Unit
• Organization to potential
customers
• Individual decision making
• Various requirement and
effort among person
• Fast and casual process
• Buy for individual usage
• Customized package to
achieve personal needs and
conditions
• Organization to Organizations
• More decision participants
• More professional purchasing
effort
• Longer Process than consumer
market
• More formal than consumer
market
• Buy a large number of
inventories
• Invest large sum of money

7. INSURANCE MARKET SEGMENTATIONTEAMARKANAKY

8. CONSUMER MARKET SEGMENTATION
Demographi
c
Psychographic
s
WHO
?
WHY
?
Ages IncomeGender Status Education
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9. BUSINESS CUSTOMER SEGMENT
Fire Insurance for
Warehouse; Building
and other property.
Often required by law.
Sovereign loans and
macro-economic risk
coverage (Events of force
majeure)
Group insurance taken
by organizations for
employee benefits
Businesses in the trade of
export and import and also for
vessels. Legal issues are quite
prominent for port anchoring
Insurance against debt
obligations. Banks and
financial institutions are
the main customers
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10. TEAM
MEMBERS
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Kazi Mustafizur Rahman
ST120943
Kyaw Pyae
ST121118
Ratiporn Reangkitchamrus
ST121006
Arsa Chaithep
ST120979