Fair Customer Treatment Policy

1. Purpose

          To ensure that the Company's business operations are consistent with its corporate culture, prioritizing customers and aligning with the Company's vision of delivering excellent service, the Company has established work systems and processes that are accurate, appropriate, efficient, transparent, auditable, and in compliance with the law and principles of fair customer treatment. This aims to promote the Company's ability to deliver quality, standardized products and services, taking into account the needs and benefits of customers and policyholders.

2. Scope

          Personnel of Bangkok Life Assurance Public Company Limited and its subsidiaries (the Company) must study, understand, and strictly abide by this policy.

3. Effective Date

          This policy shall be effective from the date of approval by the Board of Directors.

4. Review Frequency and Revision

          This policy must be reviewed annually, or when a significant change arises.

5. Responsible Function

          The Compliance Office is the responsible function of this policy.

6. Definition

          “The Company” means Bangkok Life Assurance Public Company Limited.

          “Subsidiary” means companies in which the Company holds shares directly or indirectly over 50% of voting shares.

          “Personnel of the Company” means directors, executives, employees, and staff at all levels of Bangkok Life Assurance Public Company Limited and its subsidiaries.

          “Fair Customer Treatment” means customer-focused business practices, based on honesty, transparency, providing accurate and complete information, respecting their right of making decisions, listening to their opinions and complaints, and maintaining their confidentiality to build strong and lasting relationships.

7. General Principle

          Fair customer treatment is a cornerstone of our corporate culture. The Company is committed to conducting business with fairness, ensuring customers receive quality products and services tailored to their needs, accurate and clear information, appropriate advice, and fair complaint handling. This principle is ingrained in processes from policy development and design, selection of suppliers and distribution channels, establishing sales process standards and provision of information that assist in the decision-making process when purchasing an insurance policy, after-sales services, complaint management, and claims settlement, all aimed at building trust, satisfaction, and lasting relationships with customers. Therefore, the Board of Directors has established this Fair Customer Treatment Policy.

8. Requirement

8.1 Organizational Culture and the Executives’ Roles and Responsibilities

         The Company cultivates a "customer-centric" corporate culture in its business operations. Senior management, employees at all levels, agents, and financial advisors are responsible for promoting and setting an example of fair and transparent work practices, prioritizing the best interests of customers.

8.2 Product Development

         Product development and design take into account the needs, understanding, financial capabilities, and experience of target customer groups. The value and suitability of products are continuously evaluated to ensure they align with the best interests of customers. The company emphasizes the readiness and capability of its staff and sellers to present products accurately and fairly.

8.3 Sales Process

         Customers receive complete, accurate, and truthful information, which is sufficient for decision making based on accurate understanding and for continuing using the service.

8.4 Compensation

         Compensation is determined with significant consideration to the quality of service provided by sellers across all channels and by managers responsible for overseeing fair service delivery.

8.5 Customer Information Management

         The Company has measures in place to protect customer information, prioritizing security, confidentiality, and privacy. Disclosure of customer information to external parties will be limited to what is necessary and in compliance with applicable laws.

8.6 Customer Service

         The Company has established efficient and standardized customer service systems and processes to ensure continuous, convenient, and prompt service that meets customer needs, prioritizing the best interests of the customer.

8.7 Claims Management and Payment of Benefits under Insurance Policies

         The Company has clear, complete, accurate, timely, and efficient systems and processes for considering and paying claims or benefits under insurance policies, providing appropriate service and follow-up coordination with customers.

8.8 Problem and Complaint Management

         The Company has convenient and accessible systems and channels for receiving customer complaints, with clearly defined timelines and procedures. A systematic complaint management process ensures fair, timely, and effective consideration and remedies. In addition, the company conducts root cause analysis to prevent recurrence.

8.9 Monitoring and Evaluation

         The Company has mechanisms to evaluate the success of fair customer treatment through systematic monitoring and reporting of customer service quality, comparing results against targets, and continuously improving processes.