Corporate Strategy Plan 2021
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Corporate Strategy Plan 2021
1
TQM’s 2020 better than expectation
Revenue Net Profit EPS
Million Baht Million Baht Baht / Share
+12.7% +38.4% +38.5%
3,136.0 702.0 2.34
2,783.8 507.2
1.69
2019 2020 2019 2020 2019 2020
TQM’s 2020 better than expectation
Service Cost to Income Admin Expense to Income
-4.0% -1.4%
52.4% 25.2%
48.4% 23.8%
2019 2020 2019 2020
TQM’s 2020 better than expectation
Stock Price Dividend Payout
Baht / Share Baht / Share
+103.8% +22.9%
134.5 2.15*
66.0 1.75
2019 2020 2019 2020
*Dividend Payout 1.15 baht/share of 2020 will be paid on 14 May 2021.
Customer base has seen explosive growth
A Leap in Customer base
– driven by success in
Digital journey +1 million
within 3 months
2019 2020
> 2 Million Customers > 3 Million Customers
“TQM 2021”
What does it look
like?
New normal continuously drives changes in insurance market
Ta ilo re d Pro d u ct s – D y n a m ic
Pre m iu m
Millennials are more significant and demand
personalization. Insurance packages will need to
speak to their behavior and developed accordingly
Cla im s Go Virt u a l
In response to the pandemic, remote claims are being
practiced more. However, roadblocks such as fraud
detection warrant partnership ecosystem to pool in
experts and form robust claim handling
Exte n d e d A n a ly t ics
Extended Analytics will require new data types to be
collected, analyzed and used to help insurers craft
more responsive strategies, leaner operations and
experiential customer service
Source: SwissRe, Deloittle insights
Consumer behavior have evolved to enter
the new era
Phy sica l a n d D igit a l
Co n n e ct io n
Consumers will seamlessly live, work, shop and
play both in person and online. TQM will combine
digital and physical capabilities to be more
connected to consumers
Sa fe t y Ob se ssio n
Health and accidental concern will be more fearful in
the future due to the pandemic. Insurance product will
be more needed to ease the concern.
Re v e n ge Sh o p p in g
People have saved money from being homebound and not
going out. We expected travel and personal accident
insurance will be bounced back during 2021.
8
Source: Euromonitor, BangkokPost, Mckinsey & Company,
St ra t e gy fo r 2021 – Th e Brid ge t o
Target:
Y2020 Be yo n d 50,000 MB on Insurance
Premium Y2026
01 l Strengthen existing 03 l Enhance insurance 04 l Grow inorganic
02 l Grow sales through 05 l Expand Regional
channels ecosystem through through M&A
cross-selling
strategic partnership
D igit a l Stra t e gy
Nu m b e r 1 D igit a l In su ra n ce Bro ke r in Re gio n a l
9
St re n gt h e n Exist in g Ch a n n e ls & Gro wt h Sa le
01 | Motor Insurance 02 | Home Insurance 03 | Health Insurance
Product and service design
• Product segmentation • New price for insurance
have been adjusted to by persona policy based on risk • Adjust current and
• 3X – New product in and persona future product based on
respond the changing in 2021 • Product segmentation customer data
consumer behavior due to • More new product in by persona
2021
COVID-19
M a rke t Pe n e t ra t io n
Developed new product > 20 products
Te ch n o lo gy En h a n ce m e n t
Developed new product and service 10A cce le r a t e Gro wt h t h r o u gh Pa r t n e r sh ip En h a n ce m e n t
Healthcare Businesses
Marketplace Platform
And more
And more
Selling Channel Affliates Media Insurance Companies
And more
Tech Companies
And more And more
And moreLe a p fr o g Th r o u gh M &A a n d Re gio n a l Exp a n sio n Relentless expansion Determined to become to serve all segments a leading regional in Thailand insurance broker
TQ M Le a d e rsh ip
Ms.Somporn Dr.Chupun Gowanit Mr.Kraisingh Ujjin Mr.Nachapol
Ampaisutthipong Chief Digital Transformation Executive Vice President Triwongwaranat
Chief Financial Officer (CFO) Officer (CTO) Corporate Solutions Vice President of Marketing
Former : Chief Operating Officer at Former : Head of New Services at
AON Thailand Line Thailand.
13Transformation Digital
Growth Engine of 2021
Corporate M&A
SolutionsTransformation
2021
15World Insurance Trend: Speedy Recovery in Insurance Market
Figure 1: Global nonlife premiums falter in advanced Figure 2: Global life insurance premiums written are
markets, but keep growing in emerging countries forecast to recover to pre-pandemic levels in 2021
2009-2018A 2019 2020E 2021F 2009-2018A 2019 2020E 2021F
7.70% 7.70% 6.50% 7%
7% 5.60%
2.20% 3%
1.5%
3.50% 0%
3% 3% 3% 2%
0.60% 1.30%
2.70% 3%
2.60% 0% -6%
-1% -8%
Advanced Emerging World Advanced Emerging World
Note: A denote average, E denotes estimate, and F denotes forecast.
16
Source: Swiss Re Institute, sigma No. 4/2020 , Deloitte Insights l deloitte.com/insightsWorld Insurance Trend: Higher Degree of Advanced Technology Adoption
ECO-Solution in Wellness AI and Machine Learning
Social Media Data Driven
RPA/Blockchain
Smart Auto Policy, Telematics and IoT
17
Source: Deloitte, SwissRe, 2020TQ M Ha s Cr e a t e d a Va lu e -a d d e d Eco sy st e m t o En h a n ce Ou r
Cu st o m e r Se r v ice
TQM Mobile Platform TQM Mobile Platform
Agent Life Platform
Health Insurance Life Insurance Agent Life Platform
Call/Chat Center
• TQM Customer
Centric Solution
• Digitize RPA and
people skill set
TQM Website & Mobile
Platform Motor Insurance Home Insurance
TQM Mobile Platform
TJN Agent Platform
TQM Home Platform
Chat Center
Location-based Telesale
Motor claim service
18
18TQM Digital
19TQ M Pla n s t o Rid e o n Th a ila n d ’s e -Co m m e r ce Bo o m
E-co m m e rce M a r ke t Va lu e TQ M D igit a l Pla n 2021
(M illio n THB)*
220,000
35% Growth
163,300 Focus on consumer needs
Serve all the generations
2019 2020
Aim to be No.1 online
E-commerce market has grown rapidly due to
COVID-19 insurance broker in ThailandGe n e r a t io n Ga p s Will b e A d d r e sse d By a Wid e Ra n ge o f To o ls
Generation Z Generation Y Generation X Baby Boomer
9-26 Years Old 27-41 Years Old 42-56 Years Old 56-75 Years Old
25% of Thai population 25% of Thai population 25% of Thai population 21% of Thai population
Tendency to Tendency to
buy online buy from call
Prefer online Prefer both Prefer call
TQM Digital TQM Hotline4 D r iv in g Prin cip le s o f TQ M D igit a l To En su r e Su cce ss
Understand Customer Channel Expansion Partnership Synergy Integrated Service
Different Generations have Digital world has grown rapidly in TQM will find more partners to Integrate both offline and online
different needs. TQM thrives to the past decade. TQM Digital will collaborate and will allow even support channel for the best
understand each generations and also need to stay ahead of the deeper integration with our customers experience
provide the best product to each game and ensure that all the partners
of them. marketing and sales channel are
ready
22Corporate Solutions
23Unlocking Opportunities and Capture Value with Corporate Solutions
Service Integration
• Providing solutions throughout experienced
New Opportunity resources and in-depth knowledge in
insurance industry
Expand Business align with
the company objective Why? • Helping the client to protect their balance
sheet
• Collaborate with our strategic partners to
leverage overseas marketTQM Corporate Solution Strategy of 2021
Client Centric Risk Management
Driven
Claim Advocacy Insurance Consultation
and AdvisoryTQM Success factors for Corporate Solutions to Drive TQM Growth
Using Big Data and Analytics to identify
Risk and propose the solutions
Product Innovation &
Cross Selling and Up Selling Distinctive Services
to existing corporate client
Distribution Channel 95 branches and
Expand Customer Service Center NationwideBuilding Success Through Delivering 3 Core Values
Cost Effective
Value Added on Risk Arrange Precise
Management Service Coverage vs RiskSneak peeking into
Growth outlook –
M&A
28TQM Regional expansion is leaping onto a promising path
TQM is storming its success
into Cambodia
✓ CEO has been appointed to
steer TO toward success
Thailand
Products under approval process
Cambodia by Cambodian AuthorityTQM is fast-pacing its growth through domestic M&A & Investment
Realized by M&A success
At the brink of explosive
growth
Project ✓ Under approval
A process by Regulators
Project
Negotiation is favoring
B“Road to THB 50,000 Million
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