JMT Network Services PCL has partnered with Axinan Thailand Co. Ltd., a subsidiary of insurtech company Igloo, to create a joint venture that will introduce Thailand’s first fully digital insurer.
This strategic collaboration combines the extensive retail network of Jaymart Group with Igloo’s advanced technology to offer tailored insurance products for both businesses and consumers. By utilizing cutting-edge digital solutions, the joint venture aims to improve accessibility and efficiency in the insurance sector.
Jaymart Group, a leader in retail with a consumer base of over 10 million people across various sectors, including electronics distribution, debt management, and property services, views this venture as a critical component of its ongoing digital transformation.
The new partnership will leverage artificial intelligence to boost automation, streamline operations, and enhance risk management, setting a new benchmark for other large corporations exploring digital insurance.
The initiative also responds to the growing demand for digital insurance in Thailand, a market that has experienced a rapid surge in digital insurance adoption, outpacing general insurance growth by two to three times in recent years.
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