The Office of Insurance Commission (OIC) has launched its fifth Insurance Development Plan (2026-2030), aimed at guiding Thailand's insurance industry amid economic volatility, technological advances and rising public expectations for risk management.
OIC Secretary-General Chuchat Pramulphon emphasised an “all-sector participation” approach to ensure the plan addresses the needs of businesses, consumers and government alike. The strategy will be refined through focus groups and public hearings before seeking final approval from the OIC Board.
OIC deputy secretary-general for Strategy and Technology Chayanin Kerdpholngam led a Focus Group discussion with key players from the life and non-life insurance sectors to review the draft framework of the fifth Insurance Development Plan.
The discussion focused on four main areas:
- Enhancing consumer awareness and confidence through clear communication, education, and user-friendly products.
- Strengthening insurance companies’ resilience against emerging risks like cyber threats, natural disasters, and technological shifts.
- Expanding the insurance sector’s role in supporting the economy and society, including agricultural, labour income, and public health insurance.
- Modernising the insurance system’s infrastructure- laws, databases, regulations, and technology- to ensure transparency, fairness, and efficiency.
The OIC aims for the fifth Insurance Development Plan to serve as a key mechanism for elevating the Thai insurance system to be competitive on the global stage.