Health insurance premiums are growing in Thailand, rising by 13% in 2008 and 11.5% in 2007, according to the Bangkok Post citing data from the Office of Insurance Commission. Healthcare premiums collected last year totalled 25.6 billion baht (US$728 million), compared to 22.6 billion baht in 2007 and 20 billion baht in 2006.
The newspaper quoted Patchara Taveechaiwattana, chief marketing officer at Ayudhya Allianz CP Life as having said that healthcare insurance is becoming increasingly accepted by Thais, with many parents getting health coverage for their children. The key reasons for this include greater attention to health and wellness as well as increases in hospital costs.
She said: "The parents usually prefer to buy long-term life policies for their children at a very young age, say, less than five years, and have health riders attached to them. Some are also concerned about the future education of their kids and so they opt for long-term savings policies."
In the current global economic downturn, she says that while business should expand, growth would be slower as consumers defer their decisions because they think they will be safer to have cash in their pockets right now.
The newspaper quoted Patchara Taveechaiwattana, chief marketing officer at Ayudhya Allianz CP Life as having said that healthcare insurance is becoming increasingly accepted by Thais, with many parents getting health coverage for their children. The key reasons for this include greater attention to health and wellness as well as increases in hospital costs.
She said: "The parents usually prefer to buy long-term life policies for their children at a very young age, say, less than five years, and have health riders attached to them. Some are also concerned about the future education of their kids and so they opt for long-term savings policies."
In the current global economic downturn, she says that while business should expand, growth would be slower as consumers defer their decisions because they think they will be safer to have cash in their pockets right now.
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