JMT Network Services PCL and Axinan Thailand Co. Ltd. have announced a joint venture to create Thailand’s first fully digital insurer, combining Jaymart Group’s extensive retail network with the insurtech expertise of Igloo.
This partnership aims to develop and deliver innovative insurance products tailored to both businesses and consumers, leveraging advanced technology to enhance accessibility and operational efficiency.
Jaymart Group, which serves over 10 million Thai consumers across industries such as electronics distribution, debt management, and property services, views this joint venture as a key step in its ongoing digital transformation.
The new digital insurance model will integrate artificial intelligence (AI) to streamline automation, boost efficiency, and improve risk management, setting a benchmark for other conglomerates exploring opportunities in the digital insurance space.
This collaboration comes at a time when digital insurance in Thailand is experiencing rapid growth, outpacing general insurance by two to three times in recent years, highlighting the increasing demand for digital insurance solutions in the country.
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