MSIG targets Chinese students in Thailand

The Chinese accounted for 53% of foreign students in Thai universities last year.

- 

Mitsui Sumitomo Insurance Co., Ltd. expects its recent bancassurance tie-up to boost sales to Chinese investors and students in Thailand, where their influx has reshaped the nation's higher education landscape and sparked interest in the property sector.

"We see a real opportunity to better serve the growing number of students travelling between Thailand and China," Rattapol Gitisakchaiyakul, chief executive officer at MSIG Insurance (Thailand) Public Co. Ltd. (MSIG Thailand), told Insurance Asia in an exclusive interview.

"By using data and insights into their travel habits, preferences, and behaviours, we can tailor insurance plans that will meet their needs—whether it's coverage for medical expenses, study interruption benefits, or round-the-clock assistance," he shared with the magazine.

MSIG, the Japanese insurer's Thai unit, and Mitsui Sumitomo Insurance Thailand Branch (MSITB) signed a bancassurance deal with Bank of China (Thai) Public Co. Ltd. (BOC Thai) and China Pacific Insurance (CPIC) in May.

Under the deal, MSIG and MSITB will also sell insurance to BOC Thai's more than 1,000 corporate clients.

Rising Chinese investment in Thailand