Tokio Marine Asia and its Thailand operation have jointly created a digital solution called the self fact-find tool for clients in the country.
Via the tool, consumers will be guided through a financial review online to analyse their financial needs before being offered relevant products with four key objectives./
- Reducing the financial burden of medical expenses that may arise from illnesses;
- Providing income protection when one is unable to work due to unfavorable life events;
- Funding for child’s future education; and
- Securing lifetime income for a happy retirement.
Through the questions, consumers will also be provided with supplementary information to get a clearer picture of relevant costs.
This includes information on average hospitalisation cost to plan for medical expenses, average annual tuition fees for each level of education to plan for education funding for children and the amount of funds to be reserved for future daily expenses to plan for retirement.
“We hope this new tool will empower our customers to do their own needs analysis as a first step towards understanding insurance”, said Toyotake Kuwata, director and chief executive of Tokio Marine Life Insurance Thailand.