The impact of AI underwriting on insurance brokers in Thailand | |
| Author | Kitamet Phadungsilp |
| Call Number | AIT RSPR no.SM-25-05 |
| Subject(s) | Artificial intelligence--Financial applications Insurance--Thailand--Technological innovations Internet--Thailand--Economic aspects |
| Note | A research study submitted in partial fulfillment of the requirements for the Degree of Master of Science in Business Analytics and Digital Transformation |
| Publisher | Asian Institute of Technology |
| Abstract | This thesis studies how Artificial Intelligence (AI) in underwriting is affecting the insurance brokerage industry in Thailand. It focuses on how AI is changing the way brokers work, their views on the technology, the challenges they face, and how they are putting AI into practice. As tools like machine learning and natural language processing become more common, brokers need to adjust in order to stay competitive in a fast changing market.The research uses a qualitative approach, based on semi-structured interviews with ten professionals—five underwriters and five brokers—from leading insurance companies in Thailand. The interviews were analyzed to find common themes related to AI adoption, such as company strategy, customer behavior, technology systems, legal issues, and daily work challenges.The results show that AI can improve how insurance companies work by saving time, helping with risk checks, and improving customer service. However, there are still problems, such as old computer systems, poor data quality, staff who are unsure about the change, and worries about following the Personal Data Protection Act (PDPA) in Thailand. The study found that strong leadership, step-by-step introduction of AI, and ongoing staff training are key to making AI work well. One of the main strengths of this study is that it includes both broker and underwriter views, giving a full picture of how AI is changing the industry. It also highlights the need to balance technology with human skills, to keep customer trust and service quality.This thesis gives useful suggestions for insurance companies, brokers, and policymakers, and provides a starting point for future research and planning in digital change within Thailand’s insurance sector. |
| Year | 2025 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Science in Business Analytics and Digital Transformation (M/Msc BADT) |
| Chairperson(s) | Ransom, Lakeesha K. |
| Examination Committee(s) | Endress, Tobias;French, Joseph Jerome |
| Scholarship Donor(s) | His Majesty the King’s Scholarships (Thailand) |
| Degree | Research Studies Project Report (M. Sc.) - Asian Institute of Technology, 2025 |