Services
Our Services and Products
Pricing
Fair and accurate premium pricing is key to a strong insurance industry. TIRD works with the Thai General Insurance Association (TGIA) and the Office of Insurance Commission (OIC) to ensure standardized, fair, and market-aligned rates. Our expertise in rate preparation, pricing models, and risk assessment helps insurers stay financially stable while offering competitive, customer-focused pricing.
Our services
Preparation of insurance rates
Calculate insurance premium rates for new product formats
Improve insurance rates
Recommended insurance premium price
Our services focus on
Preparation of Insurance Premium Rates
We ensure accurate and transparent premium rate preparation using advanced techniques such as mathematical modeling. Our detailed analysis helps calculate rates reflecting damage costs and risks for various products. These rates are submitted to the Office of Insurance Commission (OIC) for review and industry-wide adoption.
Calculation of Premium Rates for New Insurance Products
For new products without historical data, we develop precise premium rate models by analyzing risks, claim likelihood, damage severity, and market trends. Our goal is to create competitive prices that meet consumer needs and help insurance businesses stay ahead.
Adjustment and Improvement of Existing Premium Rates
We adjust premium rates for existing products based on market shifts, rising damage costs, and evolving consumer behavior. Through data analysis, we ensure rates remain competitive and aligned with industry standards while maintaining financial stability.
Recommended Insurance Premium Pricing
We provide recommended premium prices that reflect true damage costs, address risk factors, and meet consumer demands. Our advice helps businesses set fair and sustainable prices, supporting industry stability and growth.
For voluntary motor insurance with dealer repairs, we offer average premium prices for the top 50 most popular models. These rates account for damage costs, renewal-year premium discounts, and age-related price changes, serving as a reference for businesses to set fair pricing.
Get in touch with the TIRD team and find the right solutions for your sustained success!
Reference Loss Cost
As the insurance industry embraces liberalization, access to accurate and fair loss-cost information is crucial for success. TIRD specializes in Reference Loss Cost analysis, leveraging advanced data analysis techniques rooted in actuarial principles. Our solutions empower businesses by providing precise, actionable insights that strengthen the insurance sector at both the corporate and industry levels.
Why TIRD?
Establish a Reliable Data Foundation
In an increasingly competitive landscape, adapting to evolving market demands is crucial. We help businesses establish a strong, reliable data foundation, enabling strategic adjustments in response to regulatory changes and market trends.
Mitigate Pricing Risks through Accurate Damage Cost Data
Providing transparent, referenceable loss-cost data fosters trust across the entire insurance ecosystem. Through comprehensive analysis using reliable databases, we calculate reference loss costs that closely reflect real-world
Build a Strong Foundation for Steady, Sustainable Growth in Non-Life Insurance
As the insurance industry navigates rapid change, TIRD is committed to supporting businesses in adapting with confidence. Our Reference Loss Cost service is designed to lay the groundwork for stable, long-term growth in the non-life insurance sector, helping you thrive in an evolving market.
Get in touch with the TIRD team and find the right solutions for your sustained success!
Premium Forecast
Premium Growth Forecasting for Strategic Planning
Premium growth forecasting is essential for effective business and operational planning. We offer premium growth forecasting services tailored to the non-life insurance industry, leveraging historical data to identify trends and opportunities, alongside current economic indicators and forecasts for the upcoming year. This comprehensive approach enables businesses to make informed, strategic decisions.
TIRD’s in-depth analysis, supported by clear and concise reports, empowers organizations to develop business plans that are agile and responsive to market changes.
Why Premium Forecast
Achieve Efficient Premium
Growth Calculations
Make informed decisions that drive sustainable growth and long-term profitability.
Navigate Market Dynamics
with Data-Driven Strategy
Gain a clear understanding of market shifts and drive success with proactive, data-backed business
Build Robust Business
Plans with Reliable Data
Leverage accurate and reliable data to develop business plans that thrive in a dynamic market.