Allianz Ayudhya Assurance PCL is looking to reach 34 billion baht in total premiums in 2018 as it aims to become a leading digital insurer, the Bangkok Post reported Feb. 20.

The company plans to recruit 6,000 new insurance agents this year, said CEO Bryan Smith. Of the 34-billion-baht premium target, 15 billion baht is expected to come from insurance agents, 13 billion baht from bancassurance, 5 billion baht from direct marketing and 1 billion baht from group insurance, he added.

The company is also aggressively expanding its digital distribution channel, with a new online channel expected to contribute 120 million baht to sales, Smith said. He added that Allianz Ayudhya Assurance has also set aside an IT investment budget of 1 billion baht annually.

As of Feb. 19, US$1 was equivalent to 31.41 Thai baht.