The Office of the Insurance Commission (OIC)
unveils its 5th Insurance Development Plan,
aiming to upgrade the insurance system as a national risk management infrastructure.

Mr. Chuchat Pramoonpol, Secretary-General of the OIC, revealed that 2026 marks a crucial starting point for the implementation of the 5th Insurance Development Plan, moving from vision to reality. The plan aims to elevate the insurance system from an optional tool to a "national security infrastructure" and a "National Risk Buffer," a mechanism to absorb shocks from potential economic and social risks. This will ensure widespread access to insurance for the public, providing security for lives and property, and enabling the Thai insurance system to effectively manage new risks and large-scale disasters. Therefore, 2026 is the year of "transforming the plan into tangible results." The OIC will operate under four main strategies, with the core focus on making the Thai insurance system "resilient – ??adaptable – comprehensive – advanced." This will be driven by: people as the key mechanism for organizational growth; data as the basis for analysis and policy formulation; technology as a tool for enhancing efficiency; and integration and cooperation from all sectors, through consistent monitoring and analysis within the insurance business context. The key operations of the Office of Insurance Commission (OIC) for 2026 are divided into strategic categories according to the 5-point plan as follows:

Resilience = Strategy 1: Stability. Building a flexible, robust, and resilient insurance system that is adaptable to change and ready for the future. Stability in the insurance system must begin at the source, especially by upgrading the supervision of insurance intermediaries, who are the frontline personnel closest to the public. This comprises 5 issues:

Issue 1: Upgrading the supervision of insurance intermediaries to preventative regulation. The OIC will shift its regulatory role from resolving problems after they occur to "prevention before problems happen." This will involve using data and a Risk Scoring system to systematically monitor and assess the risks of insurance intermediaries. Furthermore, it will develop channels for the public to easily verify licenses and move towards e-Payment systems for premium payments, eliminating cash payments through agents by 2027 to reduce the risk of fraud and impersonation. This upgrades supervision from "control" to "systemic risk management," ensuring the public is confident that they are being offered sales by properly licensed individuals and receiving fair protection.

Issue 2: Protecting the rights and interests of the public from the beginning of the insurance process. This involves adjusting the concept of protecting rights from... The shift from "handling complaints" to "preventing complaints at the source" involves establishing clear Key Performance Indicators (KPIs) and Service Level Agreements (SLAs) to ensure insurance companies are accountable for service quality in a tangible way. This is coupled with upgrading the standard of information dissemination to the public, ensuring they understand coverage terms and conditions correctly, and using data to analyze complaint trends for proactive systemic solutions. The goal is to reduce the number of complaints by at least 15% and improve the "entire system" quality to ensure fairness for the public from the outset and build sustainable trust in the insurance system.

The third point concerns upgrading the operational standards of regional insurance company branches by enhancing market conduct oversight. The Office of the Insurance Commission (OIC) will upgrade its supervision of insurance company branches from general inspections to rigorous market conduct oversight. This will utilize a risk-focused supervision approach and complaint data as the basis for evaluation, prioritizing the quality of service to the public. This includes fair selling, prompt and transparent claims processing, after-sales customer care, and personal data protection, with the ultimate objective of ensuring that people across the country receive the same standard of service. And to strengthen confidence in the Thai insurance system.

Issue 4: Enhancing the stability of the insurance business through group supervision. The OIC (Office of Insurance Commission) will fully implement Group-Wide Supervision, enforcing regulations and requiring insurance business groups to systematically report group-level information. This will allow for a clear view of the "true risks" of the entire business group and prevent systemic risks that may occur in a domino effect. This will help strengthen the stability and security of insurance companies in accordance with international standards and build public confidence that insurance companies are financially stable and can continuously pay claims.

Issue 5: Promoting an Insurance Community and elevating Thailand to an ASEAN Insurance Hub. This will be achieved by creating an Insurance Community to systematically connect "people, knowledge, innovation, and collaboration" between the business sector, academia, and the technology sector. This involves expanding cooperation with educational institutions, developing Innovation Centers, and promoting InsurTech, coupled with developing professional curricula and creating an Insurance Learning Platform to build a knowledge infrastructure for the industry. This will help enhance the capabilities of personnel and promote innovation. And it lays the foundation for Thailand to become the ASEAN Insurance Hub in the long term.

(Received = Strategy 2: Resilience. The insurance system can withstand large-scale disasters and new risks. The Office of the Insurance Commission (OIC) prioritizes strengthening the insurance system to cope with increasingly frequent and severe disasters by upgrading the supervision of reinsurance, which is an important "financial buffer" of the system, along with...)

Collect and analyze in-depth risk data linked to the ERM/ORSA framework to assess the system's ability to absorb losses. Develop a national-level large-scale risk management mechanism and study the feasibility of establishing a national disaster and large-scale risk insurance fund to cover future damages, reduce the government budget burden, and ensure prompt and stable relief for the public.

**Strategy 3: Inclusion** Promote universal access to insurance and support an aging society. The key goal is to ensure that all groups of people have access to the insurance system. This comprises three points:

Point 1: Insurance companies issue electronic policies (e-Policy), expanding their use from mandatory motor vehicle insurance to personal line insurance policies. Link data to a central Custodian system to allow convenient, transparent access, verification, and use of policy information, reduce the risk of lost documents, and fully digitize the Thai insurance system.

Point 2: Upgrade target areas to create a road safety culture. The Office of the Insurance Commission (OIC) will elevate mandatory motor vehicle insurance (Motor Vehicle Act) to a national priority under the goal that "every vehicle must have legal coverage," expanding the pilot model to a national level. Alongside developing an ecosystem that links vehicle registration data and related agencies, and streamlining the tax renewal and notification processes, the Compulsory Motor Vehicle Insurance Act (CMVIA) aims to make insurance a reliable "basic guarantee" for citizens and help reduce long-term losses for the country.

The third point concerns strengthening insurance knowledge among media professionals and public communicators. The OIC prioritizes developing a network of quality communicators to ensure the public receives accurate and reliable insurance information. This builds upon the Responsible Voices project for influencers, which has already completed two cohorts with 87 participants and reached over 34 million people. A reunion event and training for the third cohort are planned for 2026, along with courses and workshops for media professionals and public communicators to enhance their understanding of insurance, law, and regulatory roles. Additionally, the OIC launched "PITAK," its mascot, to represent the organization in communicating insurance information, news, and benefits to the public in an easily understandable and accessible manner. And insurance can be used as a tool to build financial security with confidence.

Strategy 4: Technology & Data-Driven. A connected insurance data ecosystem that responsibly utilizes technology, comprising the development of AI, digital technology, and Open Insurance for modern governance. AI and digital technology are key tools for enhancing governance by developing the OIC AI Submission Acceleration Platform (OIC ASAP) to improve the efficiency of data delivery and analysis from the insurance sector. Data infrastructure is upgraded through the OIC Gateway and e-Custodian systems to ensure transparency, verifiability, and systematic interconnectedness of policy information. This is coupled with the promotion of Open Insurance to facilitate secure data exchange under the protection of personal data. This will increase the speed and fairness of underwriting and claims payments, reduce fraud, and develop products that truly align with the risks faced by the public.

“All strategies, whether enhancing governance, developing disaster response mechanisms, expanding access to insurance, or utilizing technology, share the same goal: to ensure that the public receives tangible benefits in terms of financial security, fairness, and access to reliable and standardized insurance systems. Because insurance is not just a policy; it is a guarantee of security for life, the economy, and the nation.” We would also like to thank the media, influencers, and all stakeholders. As a liaison to accurately and comprehensively convey information, policies, and development directions for the insurance system to the public, so that people are aware of their rights and benefits, have appropriate access to insurance, and use insurance as a tool for risk management and building financial security, the OIC will continue to work with all sectors to create a stable, transparent, and sustainable Thai insurance system. This will be a crucial guarantee for public safety and support the country's long-term economic development,” said the Secretary-General of the OIC.

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