Press Releases

Thai Life Insurance strengthens and restructures its organization, building an agile workflow as well as developing human resources. The changes to its leadership team have also been made to improve operational efficiency and to ensure the strong and sustainable business growth.

Mr. Chai Chaiyawan, Director and Chief Executive Officer of Thai Life Insurance (“TLI” or the “Company”) explains, “The Company has announced the strategic reorganization with the intention to become a “Life Solutions Provider”, the answer to all life insurance, health insurance and personal financial planning. The Company will adopt a result-oriented work paradigm that focuses on business impact more through work optimization, work process adjustment, as well as empowering the employees with data capabilities, building a data-driven company.”

“The operations of Thai Life Insurance integrate people, processes, data and technology, cultivating digital mindset among Thai Life Insurance personnel, generating agility, data literacy, and data analysis skills by adding value to existing data and creating value for customers, the Company and Thai Life Insurance brand” Mr. Chai said.

And in order to meet with work paradigm shift, the Board of Directors’ meeting has approved the reorganization and appointment of additional executives to make the Company management more efficient and effective, ensuring strong and sustainable business growth. The appointments are effective from February 1, 2022.

Mr. Chai will continue in his role as Director and Chief Executive Officer (CEO), responsible for managing Thai Life Insurance’s overall operations and designing strategies, including distribution channel strategy, especially market expansion through the Company’s insurance agents with the support from professional executives to drive operational excellence in accordance with the vision to become a sustainable insurance company.

In addition, the Board of Directors has approved the appointment of Mr. Kean Hin Lim as President, is responsible for product development, market expansion strategy, organizational risk management, digital transformation, as well as business expansion into Southeast Asian Market, e.g. Cambodia, Laos, and Myanmar.

Mr. Kean Hin Lim is a life insurance actuary with extensive experience working with leading organizations in many countries, including United Kingdom, Singapore, and Hong Kong. He has worked in Thailand for 27 years and at Thai Life Insurance for 14 years. His proven successes included the negotiation of joint venture partnership with CB Bank, establishment of CB Life Insurance Company Limited (CB Life) in Myanmar, where Thai Life Insurance took 35% of the issued and paid-up shares of CB Life or serving as part of a recruitment team for business partnership. Currently, Japan-based Meiji Yasuda Life Insurance Company is holding 15% of the Company’s issued and paid-up shares. This strategic partnership will support Thai Life Insurance in several aspects, including Japanese Worksite Marketing, knowledge, and expertise support, as well as technological potential and customer reach in new markets.

Furthermore, Mr. Kean Hin Lim has also played a critical role in enhancing and pushing life insurance business, including stipulating the risk-based capital framework for the Office of Insurance Commission.

In addition, the Board of Directors’ resolution has approved the appointment of other executives as follows:

Mr. Boonsin Thungudom as Senior Executive Vice President, is responsible for Data Management Strategy and Business Channels Strategy,

Mr. Nitipong Pruchyanimit as Executive Vice President and Chief Marketing Officer, is responsible for Product Marketing Strategy, Marketing Communications and Business Planning,

Mr. Denpong Jesadaviriya as Executive Vice President, is responsible for Core Businesses such as Life Insurance, Compensation Claim and service provided to the insured,

Mr. Arj Seriniyom as Executive Vice President, accountable for Investment and Securities Distribution,

Mr. Hsi-Ling Yang as Chief Actuary, is responsible for Actuarial Science and Product Development, and

Mr. Korawut Pittayapibulpong as Senior Head of Channel, Commercial Bancassurance 2, is responsible for Market Expansion through banking channel and partnerships.

Moreover, the original executives of Thai Life Insurance who have knowledge, skills and experience in life insurance industry will remain in role, including Mrs. Varang Chaiyawan, Director & Deputy Chief Executive Officer, responsible for Investment and Securities Distribution and Mr. Winyou Chaiyawan, Deputy Chief Executive Officer leading the Partnership Group.

Mr. Sawat Naruvorawong, Senior Executive Vice President will be responsible for Laws, Corporate Governance and Group Life Insurance, while Mr. Angkoon Srikanlayanabuth, Senior Executive Vice President will retain leadership of Direct Marketing and Sale, Branch and Customer Center Administration.

Mr. Nobuyuki Makino, Executive Vice President will be in charge of Japanese Worksite Marketing. Mr. Michael Heang Ly, Chief Financial Officer will lead Accounting and Finance. Dr. Pawichat Prasertsit, Executive Vice President will be responsible for Medical Insurance Department. Mrs. Duangduen Kongkasawad, Executive Vice President will be responsible for Corporate Communications Group, while Mrs. Yupaporn Suwannawat, Executive Vice President will be accountable for Human Resources.

“Combining both existing and new executive leadership team will utilize the strengths of the executives from each generation to help Thai Life Insurance achieve its business purpose to become a Life Solutions Provider and achieve its brand purpose to be completely loved and trusted by customers. In light of the age of globalization, Thai Life Insurance proceeded with the establishment of executive leadership team comprising global citizens to be ready for the business expansion in the future” Mr. Chai stated.

In addition, Thai Life Insurance has also restructured human resources management to support the decentralization to optimize the management and decision-making, reduce chain of command and improve employee competency. It will increase its focus on teamwork from different departments and set the end-to-end workflow. Meanwhile, the Company will leverage digital agility in work culture and provide co-working space for the employees to quickly perform and drive the organization.

“Thai Life Insurance people require upskilling and reskilling and need to develop creativity and innovativeness, as well as practicing skills of the future, including thinking skills, relationships, efficient implementation, teamwork skills, change adaptability, life skills and self-esteem while also creating value to others. Everyone in the organization must be prepared for the new way of working. This adaptability to changes will enable the sustainability of employees and organization” said Mr. Chai.