We aim to be the most preferred non-life insurer in Thailand

We aim to be the most preferred non-life insurer in Thailand
We continuously improve the quality of our services
to ensure complete customer satisfaction.
Our cooperative garages are accredited under our
çBKI Recommended Garageé project.
RISK FACTORS
Since 2008 and continuing into 2009, Thailand’s economy has been sluggish as a result of the global economic recession
coupled with domestic political unrest. Most governments across the world, including the Thai government, have constantly
initiated several measures to try to counter the slowdown in the economy, resulting in signs of an overall global economic
recovery. Nonetheless, we are still confronted with risks of various kinds. The Company has been fully aware of risks related to its
business transactions and implemented a risk management policy to reduce the chance of those risks. The following are risk
factors which can have an impact on the Company’s performance.
1. Strategic Risks
Strategies are significant for any organization’s success. They range from direction determination to strategy
implementation and transformation, from the organizational level to departmental level. The risks that may occur are, for instance,
strategies incongruous and inappropriate to business transaction environments. To manage strategic risks, the Company, through
its Corporate Strategy Department, has continuously reviewed its strategies in order to see whether they are still suitable to rapidly
changing environments. In addition, the Department is also in charge of summarizing the status of the Company’s performance
based on its strategic plans and will, at an appropriate time, display the status of an accomplishment of the plans and give a
warning signal for those plans that have to be adjusted. The management of such risks has enabled the Company to see them in
time and establish preventive measures, so turning the risk into a business opportunity instead.
2. Underwriting Risks
Underwriting risks are significant risks and directly influence the Company’s performance and financial standings.
Such risks may be incurred by a wide variety of reasons, for example, general accidents, tremendous natural disasters in all parts
of the world, with an increasing trend of occurrences and severity, such as fluctuating climate, melting polar ice, increasingly
violent tropical storms, as well as floods and earthquakes causing comprehensive damage. Furthermore, there have also been
risks stemming from human deeds, like hazards from terrorism and robbery. Obviously, these risks are regarded as perils causing
damage to people’s lives and assets.
To minimize such risks, the Company has adopted the standard consideration procedures for underwriting, defined
conditions of underwriting, and determined its premiums in line with the underwriting risks. Moreover, the Company has
supported its employees’ self-development and education, by having them attend training courses both inside the country and
abroad, to ensure that they have a good understanding and sound knowledge of insurance principles, as well as the ability to
make an assessment of risks with professionalism. Similarly, the Company has given consultancy services and suggestions to its
customers to help minimize their risks, including adopting an appropriate reinsurance policy to distribute risks.
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