Innovation Strategy and Targets

Nowadays, digital technology plays a very important role in business operations and is creating competitive advantages. Bangkok Life Assurance has applied a digital transformation policy to develop digitally through the creation of a comprehensive digital platform, as well as building a life insurance ecosystem to enhance life insurance services and move towards a paperless society in the future.

Bangkok Life Assurance has developed a digital infrastructure plan to support our short and long-term strategies. This development plan aims to enable the adoption of digital technology in the organization to efficiently respond to business strategy in terms of operations and information applications, to accommodate changes in the business environment and changing consumer behavior, and to help support new businesses that will happen in the future. This will result in the business being able to compete and grow sustainably.

The digital roadmap is divided into 7 sections

1. Data Management Foundation:

 Developing a data warehouse system and tools for model management and data transmission suitable and efficient for analytical work.

2. Online Data Tracking:

 Track and analyze online platform usage behavior to develop and improve the system and display format that corresponds to and supports users' needs.

3. Personalized Customer Journey:

 Customer journeys are analyzed. Information that is relevant to the interests of the customers is selected to be presented to customers, thus providing a personalized customer experience.

4. AI Projects for the Backend:

 AI is used for data evaluation and analysis as well as helping to support the service work.

5. Strategic Change of Organization Work Culture:

 Technology is introduced to help increase organizational efficiency, including training employees in the organization to understand and enhance work skills in new ways (digital transformation and AI training).

6. Build an in-house team with knowledge and skills in using data analytically

 to develop and drive technology within the organization.

7. Develop an AI strategy and develop internal and external communications

 Develop our operational strategy using technology to support it, as well as communication in the same direction both inside and outside the organization for efficient driving.