Thailand’s leading insurance broker transforms with technology, strategic investments, and customer-centric solutions for the future.
Revolutionising Thai Insurance
TQM Alpha has evolved from a family-run operation in Bangkok’s Chinatown 71 years ago into a market leader. Known for its resilience during the 1997 financial crisis and a focus on innovation, TQM has embraced technology and an asset-light model to expand its footprint. With a target of THB 50 billion in premiums by 2027, the company aims to strengthen its dominance in the insurance and financial services sectors.
Pioneering Business Milestones
Initially providing non-life insurance through face-to-face interactions, TQM shifted to telemarketing during the 1997 crisis. Investing THB 200 million in call centre technology transformed the business, enabling rapid growth across Thailand. Today, TQM operates over 5,000 service points and partners with an additional 6,000 outlets. This shift from physical branches to digital systems ensures high service levels while controlling costs.
Expanding Financial Services
TQM has entered the financial services market through its Easy Lending Company, offering loans tailored for insurance purchases. This initiative strengthens customer relationships by catering to a wider range of financial needs.
Leveraging Technology and AI
TQM uses AI and data analytics to refine customer segmentation, streamline claims processes, and personalise recommendations. These tools improve operational efficiency and enhance customer satisfaction, fostering long-term loyalty.
Diversifying Insurance Offerings
While motor insurance accounts for 77% of its non-life portfolio, TQM is diversifying into life and health insurance, recognising opportunities in underserved markets like older vehicles and healthcare. Its recent acquisition of True Life strengthens its position in group life insurance for corporate and government employees.
Strategic Investments and M&A
TQM’s acquisitions, such as My Group Intelligent and Ngern Rueang Jib, extend its reach and enhance its platform. These strategic moves align with its commitment to diversifying services and improving customer experience.
Customer Engagement Focus
Serving over 3.5 million customers, TQM adopts a lifecycle approach, offering relevant products as customer needs evolve. Its omnichannel strategy, combining tele-sales, digital platforms, and physical service points, ensures convenience and satisfaction.
Future Growth Plans
TQM’s roadmap to THB 50 billion in premiums includes M&A, product innovation, and exploring underserved segments. By focusing on customer-centric solutions, the company is poised for sustained growth in Thailand’s insurance landscape.
