KBank sees potential for bancassurance in Laos, Cambodia
Kasikornbank aims to expand its bancassurance business into neighbouring countries after finding that customers in Laos and Cambodia incur higher medical expenses. Pakorn Partanapat, executive vice president, said that the bank has prepared business plans to cope with the Asean Economic Community (AEC), and bancassurance is one of its focused areas because it generates higher fee income. The bank found that health insurance could respond to the needs of foreign customers, especially the people of Laos and Cambodia, because medical services in Thailand are better than in other countries. At present, the Office Insurance Commission (OIC) requires the policy language must be in Thai. However, the OIC plans to allow insurers to add international languages to serve the AEC. The bank plans to add the Laotian, Myanmar and Cambodian languages in its policies…
