KPI Marks Its 70th Anniversary With “Serving Friendly Insurance Services” Vision To Become The Top 10 Insurance Company
KPI celebrates its 70th year with the vision of "Providing Friendly Insurance Services" and becoming one of the top 10 insurance companies with a gross premium of 10 billion in the next 5 years
Krungthai Panich Insurance or KPI celebrates its 70 years under the vision of “Provide Friendly Insurance Services with the aim of providing Friendly Insurance Services” and continues its mission to meet the needs of its valued customers. With the motto “KPI enters the future, for the world, for you”, KPI aims to become an accident insurance company that offers insurance products and services that are easily accessible, convenient, fast and environmentally and socially sound. . KPI hopes to reach 5,526 million baht gross premiums by 2023 and an annual growth rate of 15%, aims to reach 10 billion baht gross premiums and become one of the top 10 property and accident insurance companies in the next 5 years.
Dr. Pongpanu Damrongsiri, Chairman of Krungthai Panich Insurance Public Company Limited or KPI, said that the company has planned its 2023 business strategy in line with the company's vision: "Provide Friendly Insurance Services: Focus on excellent service through relocation". consistent practices across all sectors involved, such as customers/consumers, business partners, employees and families, as well as communities, society and the environment.
“This vision will propel us forward in our exciting journey and achieve our goals, ready to face any competitive changes in the insurance industry. The impact of natural disasters and customer expectations have driven us to develop the right business model both offline and online and develop various marketing policies, collaborating with business partners, agents and brokers to provide customers from all groups with the best service, innovative and responsive solutions. for your needs. said dr. Pong Pan.
According to the annual report as of December 31, 2022, the company's total assets amount to 14,886 million baht. Total insurance premium income was 4,885 million baht, an increase of 7.59% compared to 2021 (Miscellaneous 48.99%, Auto 40.23%, Fire 10.46% and Marine 0.32%) and net profit: 758 million baht.
“Along with the general economic recovery, we believe that, despite facing a number of challenges, a number of companies will see new opportunities to adapt and develop their businesses in line with economic growth, thus increasing the purchasing power of the public sector. premium target is 5,526 million baht in 2023, an increase of 15% YoY If we can maintain this annual growth rate, we will reach 10,000 million baht in gross premium in the next 5 years or in 2027. It ranks top 10 for Pong insurance accident pan.
On August 31 this year, KPI celebrated its 70th anniversary and is seen as another important step forward in an exciting journey, caring for society and the environment in multiple dimensions, in line with the company's sustainable development concept Step for Tomorrow. The 5 aspects that are the focus according to the SDGs international standards: 1) quality education, 2) good health and well-being, 3) climate protection, 4) responsible consumption and production, and 5) reducing inequality.
“The insurance industry faces a number of challenges which of course present risks and opportunities. It is inevitable that we must evolve and adapt. Amidst this constant change, the industry has to go beyond its core products and services to maintain its customer base. Therefore, the development of KPIs towards sustainable development is an "important" aspect that we must concretely integrate and promote, in addition to good corporate governance and effective risk management. Therefore, this year is considered one of the most difficult. If we act quickly and smartly, change will bring significant opportunities, and KPI is ready to take advantage of this opportunity to offer affordable insurance services for all,” said Dr. Pong Pan.
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