Thai insurtech Rabbit Care has announced a milestone, with the firm recording a 137% increase in total insurance premiums spanning all product categories.
This substantial growth, particularly in the motor insurance segment, can be directly attributed to the company’s strategic rebranding efforts in 2021.
Part of this growth can also be attributed to shifts in consumer behaviour, as revealed in data from Bain & Company and the Office of Insurance Commission. The data highlights the increasing preference among consumers for purchasing casualty insurance primarily through insurance brokers, a trend that has consistently grown over the past three years.
Sales conducted through brokers have also risen from 56% to 70% of the total non-life insurance premiums. Furthermore, the data indicates a surge of over 50% in the trend of searching for and purchasing insurance products through online channels.
In celebration of this milestone, Rabbit Care has also announced the launch of the “Rabbit Care 2nd CAREniversary” campaign, featuring an exclusive gift for customers.
“Our rebranding has played a pivotal role in establishing Rabbit Care as the dominant online insurance and financial product comparison platform in Thailand, operating under the guiding principle of 'Complete Care.' Over the past two years, we have been dedicated to enhancing the customer experience through investments in our proprietary online platform and services. We have also launched marketing campaigns designed to cater to both existing and new customers, which has significantly contributed to the substantial increase in customer trust and loyalty,” said Chayapat Sakulrompochai, Rabbit Care chief commercial officer.
In other recent developments for the insurtech, Rabbit Care has announced the acquisition of EasyCompare’s broker business, welcoming 30,000 motor clients from the latter.
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