With a core principle rooted in "sustainable growth in collaboration with diverse sectors of society", TIDLOR INSURANCE BROKER places strong emphasis on cultivating partnerships with shared intentions, which is to create opportunities for Thais to access suitable insurance coverage equally by conducting business with governance and ethics.
From day one to today, on the path of cultivating growth for TIDLOR INSURANCE BROKER and its partner insurance companies, there have been numerous valuable lessons learned together. And this is the ways TIDLOR INSURANCE BROKER continues to "grow together with partners" towards great success.
Athitaya Phoonwathu, Chief Insurance Officer, expressed gratitude to the insurance companies that have become "partners" on the journey of sustainable growth. Since the early days when TIDLOR INSURANCE BROKER began its insurance business in earnest, as mentioned in Ngern Tidlor’s culture book "I'M POSSIBLE", she stated
“In 2016, when we started building our insurance business, throughout that year, we spent time learning from insurance companies to understand the factors involved in determining insurance premiums and the information used by underwriters. We sincerely thank the insurance companies for their patience and cooperation in developing the system alongside us.”
Insurance companies that partnered with TIDLOR INSURANCE BROKER at the time, shared their impressions, experiences and valuable lessons learned from working with the TIDLOR INSURANCE BROKER team from various perspectives.
Upholding Governance, Maximizing Customer Benefits, and Nurturing Partner Care: A Commitment to Excellence
Jakkrit Chewanuntapornchai, Executive Vice President, Bangkok Insurance Public Company Limited (BKI) stated,
The vision of TIDLOR INSURANCE BROKER is impressive regarding its commitment to take care of partners while being fair towards customers. Moreover, it is the fact that top-level management down to frontline employees can work according to the vision and mission set forth. Both customers and partners can experience and truly feel their dedication.”
Jakkrit also mentioned that TIDLOR INSURANCE BROKER differs from other players in the same industry since its inception as a partner.
When BKI approaches major partners, the first question they usually ask is how much return they will receive and what benefits we can offer them. However, TIDLOR INSURANCE BROKER has never been asked such questions. Instead, they inquire about what premiums we have and what services we can provide to the customers of TIDLOR INSURANCE BROKER. Furthermore, there is a No Gift policy; prohibiting accepting any special rewards or incentives, even if offered."”
As for the dedication to partners in order to achieve sustainable growth together, Jakkrit mentioned:
TIDLOR INSURANCE BROKER takes care of its partners without requiring BKI to provide the highest benefits or returns before referred customers to us. In the past, we had a dealt with many brokers but I have to say that there are not many companies that hold onto the same ethics as TIDLOR INSURANCE BROKER. Today, even though TIDLOR INSURANCE BROKER continues to grow, they still do not prioritize the benefits of the business over the benefits of the customers. This is one of the things that reflects the philosophy and good intentions of TIDLOR INSURANCE BROKER 's business. In the early stages, both BKI and TIDLOR INSURANCE BROKER grew gradually together. However, when the premiums for TIDLOR INSURANCE BROKER started to increase from 9-10 million baht to 30 million baht, meaning there was a significant rise in workload, BKI had to make internal changes to accommodate them. At the end of that year, TIDLOR INSURANCE BROKER invited us to hear a summary of how the premiums performed and what the future plans were. Normally, there would be no company that pays such attention to partners. Other companies may prioritize their own advantages, but TIDLOR INSURANCE BROKER strives to adjust and cater to its partners. Furthermore, TIDLOR INSURANCE BROKER has a mindset of sharing information with partners to grow together. At that time, there were very few businesses that held such viewpoint.”
Utilizing Technology to Develop Systems in Collaboration with Partners for Mutual Growth
Kochchakun Kraisit, a former Manager of Finance & Leasing at Thai Insurance Public Company Limited (TIC), in the year 2020, shared his impressions of TIDLOR INSURANCE BROKER as a partner in the journey of sustainable growth. He stated:
One of the impressive aspects of TIDLOR INSURANCE BROKER as a partner in the insurance industry is the tremendous growth we have witnessed together. When we first became partners, TIDLOR INSURANCE BROKER had around 300-400 branches offering motor insurance. Today, they have expanded to over a thousand branches, and their growth shows no signs of slowing down. What sets TIDLOR INSURANCE BROKER apart is their ability to stimulate the growth and development of their partner insurance companies. In the early stages of our partnership, TIDLOR INSURANCE BROKER introduced and implemented technological advancements in their operations. This created an opportunity for us to enhance and elevate our organization significantly. Before our partnership with TIDLOR INSURANCE BROKER, our systems relied heavily on manual processes, which often led to errors and inefficiencies. However, with the transition to working alongside TIDLOR INSURANCE BROKER, we were inspired and motivated to embrace change. We aligned our systems with theirs, allowing us to deliver our products to the rapidly expanding customer base in the motor insurance market more efficiently. Additionally, it resulted in quicker policy issuance and fulfillment of the objectives shared between TIDLOR INSURANCE BROKER and us. The successful transformation from a manual data entry system to a technology-driven one was truly miraculous for TIC. The integration of technology helped minimize errors to a great extent. It must be emphasized that TIDLOR INSURANCE BROKER is a partner that constantly drives us to develop and improve. It is a partnership that brings us joy in our work. ”
Reinforced Resilience: Prepared for Change and Development
Ranisorn Phoungvarintara, who previously held the position of Executive Vice President at Krungthai Panich Insurance Public Company Limited in 2020, shared his impressions of witnessing the sustainable business approach and the introduction of new ideas in the operations of TIDLOR INSURANCE BROKER:
TIDLOR INSURANCE BROKER’s work ethics is truly the embodiment of resilience. This term, which has recently become a buzzword in the industry, can actually be applied to TIDLOR INSURANCE BROKER for many years. The TIDLOR INSURANCE BROKER team embraces change and is always ready for continuous improvement. At the same time, the management provides opportunities for employees to Upskill and Reskill. When TIDLOR INSURANCE BROKER relocated its headquarters to the Ari Hills building, I had the chance to participate in the Open House event and learn about the corporate culture of TIDLOR INSURANCE BROKER. It amazed me to see a clear picture of their approach to innovative technologies. This prompted me to quickly convene our own team meetings as I was concerned that if we didn't evolve, we wouldn't be able to keep up with TIDLOR INSURANCE BROKER. The main focus was on IT system development, connecting work processes with TIDLOR INSURANCE BROKER, and adopting more technological advancements to increase efficiency and reduce errors compared to traditional methods. We had to be constantly adjusted and maintained. There was no room for complacency because TIDLOR INSURANCE BROKER was leading the way. In the familiar fable of the tortoise and the hare, the tortoise won because it didn’t stop. As for the hare, it was at first diligent but eventually stopped. Therefore, our company should have a combination of the tortoise and the hare, which means always being diligent and not stopping so that we can keep up with the ever-evolving TIDLOR INSURANCE BROKER. This creates an exciting and challenging business partnership with TIDLOR INSURANCE BROKER.”
The openness of the 'partners' towards 'TIDLOR INSURANCE BROKER' is not just a confirmation of ‘good intentions’ and ‘governance’ that TIDLOR INSURANCE BROKER has consistently adhered to. It also reflects the opportunities and potential for both TIDLOR INSURANCE BROKER and its partners to grow sustainably. This, in turn, translates into maximum benefits in terms of convenience and increased options for customers to access the right insurance coverage.