At the 2025 annual meeting, the Office of the Insurance Commission (OIC), Thailand's insurance regulator, discussed with senior insurance company executives on how it could drive the country's insurance industry towards stability, sustainability, modernity and alignment in the context of the rapidly changing economic and social environment.
Representatives at the meeting discussed seven main agendas, including:
Security supervision of insurance business
At the meeting, OIC’s announcement of its investment in other businesses of insurance companies and related supervision guidelines consistent with current risks were reviewed. The OIC also considered adjusting the capital maintenance criteria according to risk levels of insurers, as well as group-wide supervision guidelines for insurance companies.
Other supervisory actions were discussed as well, including the calculation of insurance reserves to ensure the financial status and stability of non-life and life insurance companies, and use of legal mechanisms to prepare insurers for ESG policies and disclosure.
Utilisation of data in the insurance industry
The OIC also shared its shared opinions on the adequacy of existing data sets, including types of health data that the insurance industry would need to add to, determining guidelines for linking and developing data utilisation for maximum benefit and requesting cooperation from the private sector.
Supervision of insurance fraud
This would include setting up insurance fraud behaviour detectors from the OIC’s fraud reporting system, such as risk management on the part of insurers in cases where agents or brokers are considered risks, as well as disclosure of insurance fraud information to the sector.
Upgrading supervision of insurance intermediaries
The OIC has recognised the importance of insurance intermediaries, and is accelerating the development of standards and regulatory mechanisms to be up-to-date, transparent and able to effectively protect consumers.
This includes promoting registration in e-licensing system to create a correct, comprehensive and up-to-date database; upgrading transparency by requiring insurers to have risk management and internal control processes; and improving exams and course content for agents and brokers in cooperation with business associations.