Thailand Promoted As Asean Insurance Hub

[webfact]

Kingdom promoted as ASEAN insurance hub

CHAMNAN NOISAMRAN

THE NATION

BANGKOK: -- The World Bank and Japan will promote Thailand as the insurance centre of Asean to help develop the industry in neighbouring countries and provide professional services to the more advanced economies.

The move is also expected to upgrade the insurance industries in Laos, Vietnam and Cambodia to be compatible with Thailand's and in line with the policies of this country's Office of the Insurance Commission.

Pravej Ongartsittigul, secretary-general of the OIC, said yesterday that after his recent meeting with the International Association of Insurance Supervisors, the World Bank had proposed Thailand as an insurance centre for Asean.

Initially, the World Bank will coordinate with the 10 Asean countries to bring their insurance development into the same direction for the Asean Economic Community (AEC), which will take shape in 2015.

Technical assistance, including knowledge and information, will be provided by the bank to Myanmar, Laos, Cambodia and Vietnam, where insurance development is slower.

The World Bank will take its role in a meeting of insurance business supervisory agencies in Asia, which will be held in Thailand next month.

The bank's policy is in line with the OIC's plan aimed at helping develop the four countries' insurance business along the lines of Thailand's, Pravej said. This would also help Thai insurance companies to take part in the development and offer insurance products in the future.

Thailand will also promote itself as a hub for insurance services to Singapore, Malaysia, Indonesia, the Philippines and Brunei.

After his discussion with the World Bank, Pravej went to Japan to meet with major insurance companies there that are planning to use Thailand as a hub in the north of Indochina for their business expansion. They cited Thailand's geographical advantage in the middle of Asean for the expansion. One interested Japanese insurer is among the top three in Japan and has offices in Thailand.

The World Bank and Japanese insurers will help transfer knowledge to Thai personnel and Thailand will play a more important role in the AEC, he said.

Thailand's insurance liberalisation is progressing in a systematic way. The next step is to hold discussions with insurers for preparation and the next moves, Pravej said.

In Asean, Singapore leads in insurance development, followed by Thailand and Malaysia.

-- The Nation 2012-11-14

[DocN]

....the hell, man??? Hub- time again!

[BEVUP]

Ok the hubs are still turning - must be on a triple road train

Insurance hub ???

You cant get money out of western ones so whats the chance of getting from this HUB

When they take more than they give

[Asiantravel]

Ok the hubs are still turning - must be on a triple road train

Insurance hub ???

You cant get money out of western ones so whats the chance of getting from this HUB

When they take more than they give

Ok the hubs are still turning - must be on a triple road train

Insurance hub ???

You cant get money out of western ones so whats the chance of getting from this HUB

When they take more than they give

A business that runs on the basis that they pray the majority of people pay their premiums but don't read the accompanying fine print

[Keesters]

Oh no not another hub! Except for Thailand being the 'hub of silly ideas' has any of these proposed hubs ever succeeded?

[ggold]

As far as motoring goes, most thai's don't have insurance, especially up country!

Sent from my GT-P6200 using Thaivisa Connect App

[drdoom6996]

Thailand, the hub of all hubs.

[Jane Doe]

'The World Bank and Japanese insurers will help transfer knowledge to Thai personnel ...'

Sounds like they found a way to turn Thai personnel into foreigners

[JeffreyWitty]

Any of you bubs know the hub-bub of how many HUBs and what HUBs Thailand is a HUB of/for?

[bigbamboo]

Hub of the Month!

[mikebell]

When crossing three lanes to do a U-turn, a beat-up pick-up appeared from behind traffic in the centre lane, doing at least 120 kmph & crashed into the back of my car. MY insurer said it was MY fault as the point of impact was not dead centre but to the left of centre. This proved I crossed into his path. I was found guilty of driving whilst in possession of a white face.

[timewilltell]

I have to express some concern as when buying a computer the other day I was told that the hard disk, video card, processor and motherboard all had a 3 year warranty. "But don't break anything or you cannot claim!" I was told - Thailand - the hub of dubious everything and the epitome of hiding or censoring everything that is true.

[besth]

Oh, come on... they do it on purpose!!!!

[Payboy]

Hubba, Hubba!

[jcw]

You mean, that Thais actually have insurance ?????

I thought it was the farlangs fault because farlang have insurance.

[mrtoad]

Not again, it must have been two weeks without a Hub announcement....

[h90]

....the hell, man??? Hub- time again!

That is exactly what I wanted to post...

[Sayonarax]

hubba hubba.. its just hub madness!

[BookMan]

***SCREAM** No more hubs!!!!!!!!!!!!!!

[IsaanUSA]

When crossing three lanes to do a U-turn, a pick-up appeared from behind traffic in the centre lane, doing at least 120 kmph & crashed into the back of my car. MY insurer said it was MY fault as the point of impact was not dead centre but to the left of centre. This proved I crossed into his path.

I'm pretty sure this would also be your fault in the USA unless you could prove the other guy was speeding. Basically you turned in front of somebody and caused a collision.

[tawonsri]

Hooray -- another HUB, finally

Edited November 14, 2012 by tawonsri

[Keesters]

When crossing three lanes to do a U-turn, a beat-up pick-up appeared from behind traffic in the centre lane, doing at least 120 kmph & crashed into the back of my car. MY insurer said it was MY fault as the point of impact was not dead centre but to the left of centre. This proved I crossed into his path. I was found guilty of driving whilst in possession of a white face.

If it was you crossing three lanes to do a U-turn then I'd say it was your fault. I was taught never to do that but to make a right turn into some small road/driveway then back out carefully into the main road and continue. Don't get me started on the idiots who think that a left turn should be made from the offside lane rather than the nearside.

[madmitch]

It'll never happen. Language and legal barriers.

If there are such things as insurance hubs they already exist in Asia and they are Hong Kong and Singapore.

[Payboy]

Hub of insurance claims, has some potential.

[mrtoad]

On reflection, for Insurance Companies - having a Thai Call centre processing claims could be good.

Claimant: Can I speak to my claims officer?

Call Centre: No Have

Claimant: What do you mean "No Have"?

Call Centre: No have, No Understand

Claimant: Sorry?

Call Centre: He go eating

Claimant: When can I call back?

Call Centre: I don't know

Claimant: Can you tell me if my claim is being processed?

Call Centre: 500 baht

Claimant: 500 baht?

Call Centre: Ka

and on it goes, until no one claims anything