Allianz Ayudhya General Insurance (AAGI) has announced remarkable growth in fiscal year 2023, with Gross Written Premiums (GWP) exceeding 10 billion baht, a 6% increase and a leap ahead of the Thai insurance market average. AAGI aims continuous growth by strengthening distribution channels, developing products and providing superior customer experiences. The company is also committed to developing and maintaining a professional team and talents, retaining its position as one of the employers of choice.
Lars Heibutzki, President & CEO, Allianz Ayudhya General Insurance states: “With the strength of the Allianz, ranked by Interbrand as the world's number one insurance brand, we have gained the trust of customers worldwide, including Thailand, to manage and protect their lives and property, driving continuous business growth. For Allianz Ayudhya General Insurance PCL, our performance was very outstanding with 6% growth year on year. Gross Written Premiums (GWP) reached over 10 billion baht. Health business grew 14%, generating 3.2 billion baht in premiums. Motor segment grew 3%, with 3.3 billion baht in premiums. While non-motor business grew 5%, generating 3.5 billion baht in premiums. Operating profit was also outperformed at over 500 million baht. These successes are the results of efficient operations, innovation and successful projects that have been running throughout the year. These achievements include health protection products that are more accessible to customers of all ages, technological advancements in customer service on online platforms and the acquisition of Aetna Health Insurance.”
To drive growth in 2024, Allianz Ayudhya General Insurance continues and builds on these three main strategies:
- Drive growth in all distribution channels. With comprehensive insurance solutions that fully meet customers needs, ranging from retail to SME (Small and Medium Enterprise) ,customers will benefit and covered unexpected issue with our comprehensive protection, covering occupational properties and even safeguarding against unforeseen business disruption. This year, the spotlight will be on corporate (Commercial) customers, a market in which Allianz Ayudhya has long-standing expertise. Backed by Allianz Group’s strong financial stability and expertise, we can effectively manage risk for these business groups, which include engineering, construction supporting big infrastructure projects, marine as well as casualty and liability insurance, to name a few.
- Creating a business platform that delivers superior customer experiences through a modern digital platform, providing customers with a fast, efficient and easy access to services beyond expectations. Over the past year, Allianz Ayudhya has scored higher than an average Thai market with NPS Score ranked ‘Above Market’. We also listen to the voice of customer, based on the bottom up NPS, customer satisfaction was high at 4.8 out of 5, proving the success our continued experience enhancement.
- Building an organisation of excellence, both in terms of developing the professionalism of our employees and drive employee engagement. Apart from customer satisfaction, employee engagement is another crucial focus for Allianz group. We engage in activities which create and strengthen a bond for every generation of employees, such as staff parties and various special occasion events. Along with benefits that help build all round employee satisfaction and loyalty, Allianz has been and remains one of the most desirable firms for which to work in Asia for three consecutive years, ranked by HR Asia.