Direct Asia celebrates 8 years of success
Direct Asia, a leading auto insurance broker and the first Digital Car Insurance Broker in Thailand has unveiled strategies to mark 8 years of business. The company will leverage the successes of 2021 having over 400,000 accumulated policies and move into CRM solutions to enhance customer relations capabilities with care and service to current customers with a focus on retaining existing customer base, after finding customers’ trust in extending policies increased from 70% in 2020 to 75% last year.
The company is also seeking to expand its markets and penetrate into new segments with a Segmentation Marketing strategy of customized marketing which caters to consumers’ specific needs with 360 degree marketing tools. The target for 2022 is for customers to renew policies at a rate of over 80%, and to grow the market of new customers buying policies by 50% more than last year. All these efforts kick off with exclusive privileges, and more discount codes for every customer on the occasion of the company’s 8th anniversary, thanking customers and expanding the program “Chuan Dai Jai Jing”.
Voravudh Varikarn, CEO of Direct Asia Thailand, a car insurance broker part of Hiscox Group, noted that as the leading auto insurance broker and the first Digital Car Insurance Broker in Thailand is celebrating its 8th anniversary. Direct Asia has earned increasing trust from customers over eight years of customer care operations in Thailand. The company has maintained average annual growth of 50%, while in 2021 the company’s total customer base for auto insurance, both retail and corporate, had accrued over 400,000 policies with over 130,000 customer claims processed, highlighting the company’s secure foundations to pay out and manage claims efficiently.
In 2022, Direct Asia has business goals focused on retaining existing customers, both by the renewal of policies and expanding policies to family members’ vehicles, so that Direct Asia can cover the whole family. A new format of policy renewal has been introduced with channels to make premium payments easier, Easy Renewal. Customers can choose to pay by QR code, or activate automatic renewal for greater customer convenience. Customers no longer have to worry about policies expiring and requiring manual renewal. In the company’s databases, it was discovered that the rate of renewal for existing customers has gradually increased every year. In 2021, 75% of existing customers renewed, a 5% increase on 2020. To make the target of 80%, in 2022, the company has introduced Salesforce, the top global CRM solution, to service Direct Asia customers. It will add capabilities to customer service and give personalized privileges which match individual needs, focusing on customer satisfaction as the core priority.
As well as retaining the existing customer base, Direct Asia is also targeting market expansion to new customer segments with the strategy of Segmentation Marketing. This penetrates specific segments better, by dividing target segments into categories. Segments will be penetrated by location, with an emphasis on customers in Greater Bangkok. As well as marketing communications to reach target segments in each location, inside data has also been gathered on target segments’ preferences. This has led to expanding the network of garages to cover every district in Bangkok and its adjacent provinces. As a result, Direct Asia has one of the largest garage networks for an auto insurer. Segmentation is also leveraged to penetrate lifestyle segments. It has been found that modern consumers increasingly prefer pickups and SUVs more, because of their diverse practicality, including use in small business or personal tourism. Direct Asia has deployed a price and promotions strategy giving hefty discounts on booking accommodation worldwide, responding to the needs of this segment. Meanwhile, more products have been introduced to cover a wide variety of driving use cases.
Direct Asia is preparing marketing communications to penetrate target segments and cover every category with 360-degree marketing tools. Digital marketing will be applied alongside advertising on television, Out of Home Media, online media and continuous public relations activities, to build awareness of the Direct Asia brand and its products, as well as its special campaigns.
To celebrate its 8th anniversary and thank customers, Direct Asia will highlight its status as a leading auto insurance broker who is the true friend of consumers. The company will give away exclusive benefits for buying car insurance including codes for free fuel worth up to 1000 baht, highly appropriate as oil prices soar (limited offer and terms stipulated by Direct Asia) and will also add codes for exclusive discounts of 7% on accommodation booked with Agoda (terms stipulated by Agoda Thailand). Every customer of Direct Asia can participate in the extension of “Chuan Dai Jai Jing”, a program generating supplementary income in the current economic situation. Customers can refer a friend to buy insurance online from Direct Asia and be rewarded with up to 1,500 baht per policy. Everyone is eligible, with no limit on transactions, from today until 31 April 2022. For more details see https://www.directasia.co.th/refer/
“Over the last eight years, Direct Asia has been continually trusted by customers. We would like to take this opportunity to thank our customers for this trust in Direct Asia services. In return, we will carry on innovating products and services focused on customers’ needs. We will seek new solutions that maximally address customers’ pain-points. We are getting ready to unveil new features of installment payment formats for purchasing through the website. In 2022, besides increasing renewals from existing customers exceeding 80%, we anticipate 50% more new customers compared to last year. Furthermore, Direct Asia is also committed to social responsibility through various activities and programs dedicated to mitigating and reducing road accidents,” concluded Voravudh.
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