MASTER ENTREPRENEUR CATEGORY

SARA LAMSAM

CEO

MUANG THAI LIFE ASSURANCE PUBLIC COMPANY LIMITED

Financial Services

www.muangthai.co.th

Information about the Entrepreneur

Mr. Sara Lamsam is the CEO of Muang Thai Life Assurance Public Company Limited (MTL). He received a Bachelor of Science in Business Administration from Northeastern University (USA), a Master of Science in Administrative Studies from Boston University, an Honorary Doctorate Degree of Arts from the University of the Thai Chamber of Commerce (UTCC), and became The Honorary Doctor of Business Administration (Marketing) at the Rajamangala University of Technology Srivijaya. His interests include participating in triathlons, kiteboarding, and riding motorcycles.

A seasoned leader with 31 years of experience under his belt, he has earned numerous accolades for his innovative approach and leadership skills. Today, he spearheads the company's innovation and customer service efforts. Mr. Sara respects all his employees and encourages a happy workspace, as he believes that happy people create high-quality goods and services. Leveraging his extensive experience and skilled leadership, he has led MTL to achieve numerous awards and recognition.

Additionally, he also stands out as a seasoned professional in the fields of insurance, investment, financial management, and business innovation. During his tenure as President of the TLAA, he spearheaded efforts to improve the Liability Adequacy Test to properly represent the company's responsibilities. This change reduced the impact on reserve levels by around THB 144,000, during a period of falling interest rates in Thailand.

Other Interesting Facts about the Entrepreneur

Mr. Sara Lamsam understands how critical it is to upskill and address current business challenges. Consequently, he has broadened his expertise by completing the Leadership/Director Program and Advanced Management from the OIC, Nida, Harvard, and Boston University, as well as the Thailand Insurance Super Leadership Program, and the “Super Legal Business Administration” Leadership Program. His involvement in these programs has given him the tools he needs to efficiently handle critical issues and take on new risks.

Furthermore, Mr. Sara Lamsam is honored to serve as the Chapter Chair of YPO Gold (Thailand), a prestigious position within the Thailand Chapter of the Young Presidents' Organization Inc. This global community group fosters a unique environment for entrepreneurs from different nations, where members can exchange insights, expertise, and organizational innovations that support long-term, profitable company expansion.

Recently, he also joined the Climate Action Leaders Forum with the belief that environmental stewardship is a novel way to navigate sustainable businesses.

To be the customer’s trusted lifetime partner through innovative life, health, and investment solutions, we put our customers at the heart of everything we do

Company Achievements and
Role of the Entrepreneur

During his years in the insurance industry, Mr. Sara Lamsam laid a strong foundation for MTL, triumphing over numerous challenges. Under his direction, 2023 to 2024 witnessed remarkable developments in the creation of revolutionary innovative products. The latest of these is “Care Plus” which stands as a critical illness product that covers major diseases, integrating cutting-edge medical advancements such as online hemodiafiltration, stem cell therapy, immunotherapy, and targeted therapy. The rising popularity of "Care Plus" has helped MTL secure the No. 2 position in the Thai market landscape and a 10% year-on-year rise in new business premiums.

Mr. Sara Lamsam has been instrumental in advancing and leading the creation of cutting-edge applications such as “MTL Click”, a digitalized end-to-end service platform that has introduced several new features over the years. To date, it is nearing 1,000,000 downloads. One of its latest capabilities is "MTL Portfolio Management”, a service that offers tailored investment portfolio management by professional fund managers. This service includes the selection of mutual funds, allocation of investments, monitoring of performance, and automatic portfolio adjustments according to market conditions. By closing the gap between customers and the insurance value chain, Mr. Sara Lamsam has set a pioneering benchmark for innovation and customer empowerment within the industry.

Moreover, he aspires for Thai life insurance agents to join global qualification standards such as the Million Dollar Round Table (showcasing sales excellence or income), and the GAMA Global (highlighting team management and team-building skills). This elevates agents to financial consultants and encourages participation in MDRT Thailand and GAMA Thailand, fostering a community of knowledge sharing and sales strategy exchange. In 2023, MTL attained 152 certified GAMA agents and 325 MDRTs agents, marking a 16% year-on-year growth.

As aforementioned, Mr. Sara Lamsam’s exceptional leadership has been a key factor in MTL's success and is evident by the company’s numerous prestigious awards and accolades.

Vision, Mission & Future Plans

Mr. Sara Lamsam’s goal is to establish MTL as an international governance standard-compliant "Regional Life Insurance Leader". Furthermore, he is currently concentrating on democratizing wealth and health insurance following the “No.1 Most Trusted Partner in Life & Health Planning” objective. He is implementing strategic approaches such as the "Happiness, Your Way" initiative, which includes providing superior products and services along with integrated financial solutions tailored to individual needs.

He has focused on ESG to strengthen MTL's corporate governance and risk management practices, promoting sustainable growth. He has also prioritized reaching the UN's sustainable development goals by expertly leading the company towards becoming a “Sustainable Insurer”.

In today’s fast-paced world, steady and successful business management demands perpetual change and an eagerness to try something different. This requires everyone in an organization to work together to plan solutions and execute decisions. Leading by example, Mr. Sara Lamsam acknowledges that one person cannot know everything; therefore, he recognizes that listening and learning from others is essential for personal and professional growth.