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Motorists Paying Too Much For Their Insurance

Published: 12 Dec 2013

A pioneering online insurance broker claims that Thai motorists are paying more than they should for their comprehensive car insurance. Thailand claims the average Type 1 car insurance premium against the average household income is higher in Thailand than in its other markets.

Citing Metropolitan Bangkok as a comparison, Michael Parker, CEO of Thailand, said: “There’s no good reason why comprehensive Type 1 car insurance has to take up as much household income as it currently does.

“We’re an established insurer in Singapore and Hong Kong where vehicle ownership rates are lower than Metro Bangkok, but comprehensive insurance is much cheaper compared to incomes.

Parker explains that it is normal in the market for insurers to price different drivers at similar rates. That means lower risk drivers end up paying more than they should because they are subsidizing high-risk drivers.

"Parker added: “It only takes a few simple questions to identify driver profiles and get a better price for good drivers. Others avoid asking these questions, but in the end the customer loses by having to take a lower type of cover.

“We ask a few more questions and it means better drivers are saving up to 30%. In fact we guarantee the best price for safe drivers. Motorists just need to get a quote from us and they’ll see the savings,”
he said.

The multi-award-winning online insurance business established itself in the Singapore and Hong Kong markets and is hoping to follow suit in Thailand. Operating as a broker, it has teamed up with established insurer, The Falcon Insurance Public Co., Ltd.

It believes Thai car owners, many of whom have tried other online services, are ready to buy car insurance securely online.

“We have invested in the latest security and a high-service call centre to help customers all over Thailand. We also connect through many channels including social media. It’s really convenient to get car insurance information and to buy a policy this way,” says Mr. Parker. says motorists can get a quote, and buy and receive their insurance within minutes. Customers also have the choice to pick up the phone or walk into their offices in Bangkok. The insurance broker has also opened up pay points at 7-Eleven stores across Thailand. Country Analysis of Average Comprehensive Car Insurance Premiums to Household Incomes

# Average Household Income Multiple Average Private Car Premiums Multiple (All motor premiums/private cars/ average hold income) Average All Vehicles Premium Multiple (All motor premiums/all vehicles/ average hold income) Comprehensive Premiums Multiple (Comprehensive Type 1 premiums/private cars/ average hold income)
Bangkok 1.0 1.0 1.0 1.0
Hongkong 3.31 1.20 2.37 0.43
Singapore 5.49 1.28 2.35 0.39

  1. primary analysis
  2. secondary analysis of 2011 statistics of:
    • Office of Insurance Commission
    • Department of Land
  3. Office of the Commissioner of Insurance (HK SAR)
  4. Census & Statistics Department (HK SAR)
  5. Monetary Authority of Singapore
  6. Land Transport Authority (Singapore)

About is a new and innovative direct online insurance provider that began insurance company operations in June 2010 in Singapore and in March 2012 in Hong Kong and broker operations in Thailand in August 2013. As a dedicated direct personal lines insurance group, provides fast and easy access to insurance needs online.

About Direct Asia (Thailand) Co., Ltd.

Direct Asia (Thailand) is a licensed insurance broker in Thailand established in 2013 and regulated by the Office of the Insurance Commissioner (OIC). Direct Asia (Thailand) Co., Ltd. offers a smarter way to buy car insurance – online or over the phone at lower prices. Its head office is at Asia Centre, Sathorn Rd in Bangkok. 

For more information visit :

Customer Care:  02-767-7777
(Mondays - Fridays: 8am - 8pm , Saturdays: 9am – 5pm)

Customer Care Centre:
173/21 Asia Centre, 20th Floor, South Sathorn Road, Thungmahamek, Sathorn, Bangkok, 10120, Thailand.


About The Falcon Insurance Public Co., Ltd.

The Falcon Insurance Public Company Limited, founded in 2006,  is a non-life Insurance company, which has a capital base of approximately Baht 300 million and is affiliated with Fairfax Financial Holdings Limited, which has assets exceeding US$ 30 billion. Fairfax employs about 10,000 people worldwide, and has operations in North America, Europe, Asia and South America.

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