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Allianz Ayudhya aims to reach 34B baht in total premiums in 2018

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.