DirectAsia launches in Thailand in partnership with Falcon Insurance offering Best Price Guarant

DirectAsia, the online insurance pioneer in Singapore and Hong Kong, has now launched a broker business in Thailand, Direct Asia (Thailand) Co., Ltd., which trades under the brand DirectAsia Thailand.

DirectAsia Thailand has entered an exclusive marketing partnership with The Falcon Insurance Public Co., Ltd. Falcon Insurance) to develop online motor insurance products and theBest Price Guarantee.

Unique to its website www.DirectAsia.co.th, is DirectAsia Thailand's straight-through process for all types of motor insurance, meaning coverage is immediate, no waiting time. DirectAsia Thailand uses the latest technology to deliver secure, fast and efficient services which lead to cost savings and lower premiums for customers.

DirectAsia Thailand accepts secure payment by credit card through the Krungsri E-payment gateway and will be launching Counter Service in October 2013, opening up pay points at 7-Eleven and other counters all over Thailand.

"The whole concept of both DirectAsia and Falcon Insurance is based on convenience and guaranteeing good drivers the best price" says Michael Parker, Chief Executive Officer of Direct Asia (Thailand) Co., Ltd.

"We don't think good drivers should pay extra premium because of bad drivers. So we've worked with Falcon Insurance to guarantee them the best price or we will refund the difference.

Our call centreand website, enables fantastic convenience and service and market beating prices.

Each customer selects only the car insurance cover they need, and pays for options only if they choose. We don't use jargon and we don't sell you insurance you don't need.

One way we provide better value is through our Value and Value Plus plans, where named drivers who are experienced pay less. We ask a few more questions to understand driver profile, but that helps get the best price.

We are very happy to have teamed up with Falcon Insurance. We share a spirit of innovation and forward thinking and appreciate their great support"

Mr. Parker explains that DirectAsia Thailand is a broker that puts in the extra effort for its customers by providing all help it can during the claims process with Falcon Insurance.

"Along with the 24/7 online convenience we offer friendly telephone support whenever it is needed. We even offer a Claims Service Guarantee in Bangkok, so if Falcon Insurance does not reach the accident scene in 30 minutes you will get a 1,000 baht petrol voucher."

Mr. Parker says that DirectAsia Thailand customers will be car owners who drive carefully and believe they deserve a better price and better service.

"In Singapore and Hong Kong, car owners love our website but especially our very personal service on the phone. We have changed the way the market thinks about motor insurance there. People are thinking differently and getting a different outcome – better service and lower premiums."

DirectAsia Group, which is headquartered in Singapore, currently insures 4 % of all the private cars in Singapore and 2% of all the private cars in Hong Kong markets.

Mrs. Sopa Kanjanarintr, president of The Falcon Insurance Public Co Ltd, says she has seen over the past three years how the opportunities for online sales channels have been growing, and points out that a survey from the National Statistical Office of Thailand has found the e-commerce market value in 2011 to be over 700,000 million baht.

"Falcon has therefore been searching for an online business partner, and we are confident that DirectAsia is the right partner for us," she says.

DirectAsia has expertise and experience in online business and has enjoyed overwhelming success in the overseas markets. The DirectAsia website has been developed as an accurate and friendly experience for customers, and the company has made a very high investment on IT infrastructure to ensure the website is a totally trusted online tool.

The company, like ourselves, sees the potential of online channels to expand its sales volume of motor insurance, a sector that has a high growth rate. The product we have co-developed with DirectAsia is designed to be tailored for each group within the target market. We can guarantee best price for safe drivers by deleting the cost of risk sharing with unsafe drivers. This is to reward safe drivers.

Via DirectAsia, we expect to increase by 20 percent our motor insurance premiums, or around 20,000 policies, within the first quarter of 2014.

Falcon Insurance Public Co., Ltd. has service centres and garages nationwide. The company provides reporting of claims status via SMS, telephone or email, and ensures a fast claims service. The call centre provides service and support 24 hours. For more information, please call 0 2627-7788.