OIC brainstorms with government and private sectors to help drive the Thai insurance industry. Mr. Chuchat Pramulpol, Secretary-General of the Office of the Insurance Commission (OIC), presided over the closing ceremony of the Advanced Insurance Science Training Course (AIS) Batch 12, 2024. The course was attended by senior executives from government agencies, private sectors, and insurance businesses. They presented academic reports divided into 6 groups and 6 topics, including Group 1, 'Public-private cooperation in promoting environmental risk insurance for sustainable economic development in Thailand', the importance of Environmental Liability Insurance (ELI) as an important tool for managing environmental risks in the Thai industrial sector. Group 2, topic: 'Development of AI Governance Framework for Insurance Business', as the advancement of AI plays an important role in the insurance business, it can be applied in the insurance business, taking into account the risks that may arise from the use of AI, including building trust among consumers and entrepreneurs. Group 3, topic: 'Development of applications to enhance understanding of policies and increase efficiency in claiming compensation in full: In the case of health insurance', the COVID-19 crisis has made people more familiar with and purchase health insurance. The group has studied the problems of health insurance holders in terms of understanding the content of the policy, benefits, and conditions according to the terms and conditions of the policy, and claiming compensation, which will be beneficial to policyholders, insurance companies, and regulatory agencies in the future. Group 4, topic: 'Study project on platform for analyzing needs and recommending life insurance products that are suitable for individuals' Factors affecting the Insurance Penetration Rate in Thailand include lack of knowledge, understanding, access to information, and financial capability, the structure of the Thai population that is entering an aging society without child ren, and changing consumer behavior. Life insurance products are important for family economy and long-term financial planning. A platform that can analyze and recommend life insurance products that are suitable for individuals should be introduced to increase access to and understanding of life insurance for the public. Group 5, topic 'Promoting the environment for operating the health insurance business (voluntary sector) to support competition in the Asian region', recognizing that voluntary health insurance is beneficial in managing health risks, helping people receive appropriate and effective medical treatment, and reducing the burden on the government budget. Group 6, topic 'Creating awareness in developing cooperation in the insurance business between the public and private sectors to reduce the gap in coverage from the elderly for sustainable social development'. Thailand is facing the problem of an aging society. Therefore, the group emphasizes the development of cooperation between the public and private sectors to solve the problem of an aging society and to create public awareness of the importance of insurance for sustainable social development. Source: Thai News Agency
