The Thailand Office of Insurance Commission (OIC) published its 2025 policy and operational roadmap for the Thai insurance sector, structured around three pillars covering consumers, insurer stability and the regulator’s own capability. The programme is framed against an OIC target for direct written premiums across the market to reach THB 1,000,000 million in 2026. On consumer outcomes, priorities include reducing disputes over motor “loss of use” compensation by setting clearer amounts and embedding these terms in policies, including a “Knock for Knock” approach for class 1 policies. The OIC also plans regional branch inspections to test compliance with the 2022 requirements on opening, relocating or closing branches, and will review compulsory motor insurance coverage and premiums alongside a push for online sales and e-policies. Market-facing infrastructure initiatives include improving the API Gateway supporting OIC Gateway and the state app, adding a driving behaviour check service intended to support premium discounts, and launching a road safety research and prevention project starting in Prachinburi before expansion. For insurer resilience, the roadmap includes implementing group-wide supervision at solo consolidation level and developing principles for full consolidation supervision, including group parents and related entities, targeted for completion by 2026. Planned prudential and supervisory changes span recalibrating risk-based capital (including catastrophe risk and group capital), increasing unearned premium reserve requirements with implementation intended within 2025, enhancing ERM-ORSA, stress testing and standard models, and issuing basic guidance for Thai Financial Reporting Standard 17 (TFRS 17) reporting alongside updates to the early warning system. The OIC also signalled preparation of draft “master law” packages on stability and on business transfers and director liability, modernisation of data-sharing and fraud-related databases for insurers’ use, conduct risk-based supervision of intermediaries, a private health insurance strategic plan, life product development via low cash surrender value designs, crop insurance development with government and market counterparts, a phased Open Insurance rollout (intra-sector linkage in 2025 and broader Open Data linkage in 2026), and an AI governance guideline for insurers.

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