SEG: to Penetrate the Digital Insurance

The establishment of joint venture company namely Sentrics Consulting Company Limited in collaboration between Thai Group Holding Public Company Limited (SEG) of “Mr. Charoen Sirivadhanabhakdi” and PULSEMETRICS PTE LTD seems insignificant on the face of it…but it’s really complicated as it belongs to one of Thailand’s richest billionaires.   

 

The aforementioned joint venture has a capital investment of 10 million baht, which was a little pocket money for Mr. Charoen. In the matter og shareholding proportion, SEG will hold 67% of total shares and PULSEMETRICS PTE LTD will hold 33%. 

 

In 2018, “Mr. Charoen” has acquired the Thai Insurance Public Company Limited (TIC) through his subsidiary namely Southeast Group and later applied for the listing of SEG instead of TIC.

 

Afterwards sent the Southeast Life Insurance Public Company Limited to acquires TQM Corporation Public Company Limited (TQM). Moreover, Rod Dee Det Auto Company Limited (RDD), a subsidiary of SEG, earlier has announced the acquisition of Indara Insurance Public Company Limited (INSURE)

 

Resulting in SEG to have 4 life insurance business companies in total, which comprised of the Southeast Insurance Public Company Limited, Southeast Life Insurance Public Company Limited, the Thai Insurance Public Company Limited and Indara Insurance Public Company Limited (INSURE).

 

Well…teamed up with TQM could benefit SEG to gain more clients, but it mightn’t fulfill its desire.  

 

Nowadays, we all living in the digital era, the old school of selling an life insurance is somehow out of date. As of present, life insurance services shall provide a complex information in a digital platform thus client could buy it immediately, every time and everywhere. And in the near future, many businesses will digitized…

 

When looking back to the purpose of investment of Sentrics Consulting, this joint venture is focus on conduct data analytics and market research consulting services, therefore there is a possibility of investment in some startups that operate in insurance field, or to expand its business opportunities…no one knows… 

 

By the way, Sentrics Consulting will strengthen the value of SEG for sure…a small company which seems meaningful for SEG.