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Published on October 26, 2007

Since its establishment in Singapore in 1995, Teledirect has opened offices throughout Southeast Asia, including Thailand in 2005. Targeting banks and insurance groups, TDC will sell an alternative distribution strategy for financial products.

With execution, advisory, programme management and expertise, TDC will capitalise on opportunities in Thailand and Southeast Asia. Data from the Office of Insurance Commission indicate the Thai insurance sector in 2006 grew 12.6 per cent for non-life insurance and over 37 per cent in 2005 for life-insurance policies.

"While the insurance industry in Thai-land is growing fast, less than 20 per cent of Thais have life insurance. This low penetration level, coupled with the government's current policy of liberalisation of the insurance industry, means tremendous business opportunities in the future. TDC has been launched to assist the insurance and banking sectors to take advantage of these opportunities before new players enter the market," said TDC business director Jeffrey Manuel.

"Over the last 12 years Teledirect has acquired a unique experience and TDC has been set up to transfer technology, knowledge and skills so that the insurance sector can capitalise on our methods that have proven successful, not just in Thailand but also in Hong Kong, Malaysia and Singapore," added Teledirect CEO Laurent Junique.

The Nation