CORPORATE EXCELLENCE CATEGORY
Muang Thai Life Assurance Public Company Limited
Financial Services Industry
www.muangthai.co.th/
Information about the Company
Muang Thai Life Assurance Public Company Limited (MTL) is a leading life insurance company in Thailand, providing innovative insurance products and excellent services for 7 decades. MTL is committed to refining its services and products in accordance with its dedication, vision and core values. MTL has successfully achieved its ambitious goals by earnestly following the Vision, “to be the customer’s trusted lifetime partner through innovative life, health and investment solutions by putting customers at the heart of everything we do”. Its core values of “Customer Centricity, Collaboration, Commitment to Success, Collaboration, Care for Happiness, Innovation and Data Driven”, also play a crucial role in establishing solid foundation and reflecting MTL’s corporate culture and business practice.MTL aspires to be a leader in the Thai life insurance industry and become a regional company. MTL is currently in the Top 4 life insurance business in terms of new business premium and total premium of 14.3% and 11.8% market share respectively.
Corporate Culture & Company Activities
MTL believes in being innovative and open-minded, which is then translated into the finest and breakthrough products and services to customers. It develops programmes for staff at all levels. “Cap Off” is an open forum for executives and employees at every level to share ideas and knowledge for collaboration. Other programmes include Agile Workshop, UX Design Thinking, Innovation Challenge and Hackathon. MTL has renovated its internal area to create a new working space called The Garage by Muang Thai Life for a better working environment.MTL respects every individual and believes that open communications will lead to higher productivity and create a positive working environment. The Muang Thai Link has been set up for employees to communicate and share ideas. Recently, LearnRu has been launched, which is an all-in-one modern and mobile learning platform with key advantages that supports all learning methods and one-to-many communication.
To be the customers’ trusted lifetime partner through innovative life, health and investment solutions by putting customers at the heart of everything we do.
Achievements and Impact
2020 has been a successful year for the Company with a compound annual growth rate from 2004-2020 of 16%. MTL has expanded its business across CLMV countries and affiliated companies such as “AIGEN” (Information Technology and Services), “Gettgo” (Insurance Broker), and “Fuchsia Venture Capital (Leading Financial Conglomerate in Thailand and SEA). Its business partners include Shopee, Grab and The Aspen Tree. MTL has earned recognition through prestigious awards in areas such as management, innovation in both products and services, branding, and high ethics and good governance.To remain relevant in a fast-changing environment and customer demand, MTL has drawn up new strategies to offer new products and services every year. Furthermore, it has enhanced internal capabilities such as efficiency, talent development, cost saving and risk management over a long-term period, and image building by focusing on CSR and corporate governance for sustainability.
Future Direction
MTL aims to be the Regional Life Insurance Leader with international governance standard and will continue to promote sustainable growth to enhance the image of the Thai life insurance industry in a long run. Therefore, MTL has focused on digital, ecosystem, financial solution, total health solution, service excellence, big data, risk management, cybersecurity, workforce of the future and regional company. MTL will also continue to focus on improving business processes by going paperless, “Straight- Through Processing Claim” and “Robotics Process Automation (RPA)”.COMPANY MILESTONES
