Rabbit Care Targets Leadership in the ‘GroupInsurance Brokerage’ Market, Aiming for 40% PolicyGrowth by 2025 with ‘Employee Well-Being’Strategies and Personalized Consultation Solutions
Bangkok, 24 October 2024 — Rabbit Care Co Ltd, Thailand’s leading online insurance (InsurTech) and financial product (FinTech) brokerage platform under the BTS Group, is advancing its corporate insurance services, a key revenue driver with a 30% YoY growth. Rabbit Care is reinforcing its role as an employee welfare consultant, focusing on an ‘Employee Well-Being’ approach. This solution goes beyond offering group employee benefits by enhancing work efficiency through tailored employee benefits, designed in collaboration with clients. The company has set a target to increase group insurance premiums by over 40% by 2025.
To differentiate its services, Rabbit Care is improving accessibility and service quality, particularly in response to the preference of Thai consumers for chat-based communication. Rabbit Care is enhancing its communication channels, allowing employees to easily access services, seek assistance, and receive personalized consultations. Through the Rabbit Care LINE Official Account (@rcare), employees can inquire about coverage, track claims, and receive guidance on using the Mobile Application for e-Claim submissions—all in one place.
Mr. Pingpun Satcha, Chief Corporate Insurance Officer at Rabbit Care Co Ltd, explained that Rabbit Care, as a leading insurance broker in Thailand, continues to experience growth in user base, policy sales, and product variety. One sector demonstrating notable growth is corporate insurance (group insurance), which operates under the Business-to-Business (B2B) model. This segment, a significant revenue stream for Rabbit Care, has grown by 30% year-over-year (January to June 2024 compared to the same period in 2023).
Rabbit Care aims to expand and enhance its services to meet the needs of corporate insurance clients by partnering with over 30 leading group insurance providers. These services include property and casualty insurance, insurance for businesses such as hotels, resorts, shops, and restaurants, as well as group employee benefits insurance. The majority of corporate insurance solutions chosen through Rabbit Care are from AIA, followed by Thai Life Insurance, with Muang Thai Life Assurance ranking third.
“Currently, Rabbit Care serves more than 300 corporate clients, covering over 70,000 employees. Despite the challenging economic conditions, we are confident that the corporate insurance business will continue to grow, driven by market demand and the competitive labor market. Our goal is to achieve a 40% growth in group insurance premiums in 2025 and to become a leading provider of group insurance in the region over the next 3–4 years. We believe our strategic adjustments will position Rabbit Care as a leader in employee benefits services, focusing on the ‘Employee Well-Being’ trend. Acting as a comprehensive employee welfare consultant, we follow the philosophy of ‘Think Globally and Act Locally,’ using local consumer insights gained from close collaboration with clients to offer quality products at competitive prices. Additionally, we promote the physical and mental well-being of employees through initiatives like ‘Health Talk by Doctor,’ which has received excellent feedback,” said Pingpun.
“Over the years, Rabbit Care has prioritized working closely with clients to deliver the most suitable benefits for employees while maintaining cost efficiency. The company assists in designing coverage plans based on factors such as actual employee claim history and rising healthcare costs. This personalized approach has earned Rabbit Care increased trust and recognition across various industries, leading to strong word-of-mouth recommendations within HR circles.”
“Our success in providing corporate insurance services stems from our commitment to delivering value under the concept of ‘Complete Care.’ In addition to core services, we offer other welfare benefits that go beyond standard organizational requirements, such as advising on the setup of company infirmaries, organizing annual health check-ups and vaccination programs, providing mobile dental clinics, offering flexible benefits planning advice, and providing personal insurance planning for employees and their families. Moreover, we have created a communication channel for employees using our benefits program via Rabbit Care’s LINE OA @rcare. This platform allows employees to inquire about coverage, track claims, or receive guidance on using the Mobile Application for e-Claim submissions—all conveniently in one place,” Pingpun concluded.
For businesses interested in corporate insurance services, more details and easy sign-up options are available on the Rabbit Care website at https://rabbitcare.com/corporate-insurance.
Stay updated on the latest promotions by following Rabbit Care’s Facebook page at https://www.facebook.com/RabbitCareTH.
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