VISION

The OIC builds knowledge, capability and confidence to the public in applying the insurance system for risk management, security creation and a sustainable future.

MISSION :

1. Regulating and developing to strengthen and promote the insurance business. (To Regulate)

2. Promoting insurance business to be part of the role to enhance the country’s social economics strength and the well-being of the public. (To Enhance)

3. Protecting the insured’s right and benefit from the insurance system  (To Protect)  

 

Strategy : E.F.F.E.C.T. 

E

Proactively Educating the Public and Product Developing

Promoting the offensive education to the public for market flow enhancement, and the confidence and stability to the country’s insurance system

     1. Knowledge Upgrading for the target group (Change-Agent and Multipliers) in major areas countrywide for a better understanding and beneficiary to the insurance system, this would be extending to general public broadly and rapidly and easing the securely growth and trust for the industrial section.
     2. Pushing the insurance, government and private sectors in co-operation in greatly and rapidly developing the industry.
     3. Through continually publicizing and activating to have the IOC known and the insurance industry to be obviously and broadly recognized from the public.  
 
 

F

Modify & Improve upon the Fundamentals

Developing the practice and system standard for a speedy, worthy and supportive performance to the role and administration alteration within the organization.

     1. Developing the administration and improving the process for future development.
     2. Enhance the human resource management standard covering the re-structuring and communicating of the new system as simplified as to ease the adaptability.  This would include the manpower planning and career advancement development.
     3. In-house staffs development to ease the OIC practice.
     4. Enhance the ability to communicate the corporate culture for easy and prompt understanding and appreciation.
 
 

FE

Foster Expansion of Strategic Alliance Network to Promote
Industry Growth and Increase Market Fluidity
     1. Enhance the cooperation among ASEAN countries through the knowledge exchange.  Push the law and insurance regulatory framework of each country to be the same direction. (Harmonization of rules and regulations)
     2. Develop the policy recommendation on shareholder structure and foreign shareholding increment criteria.

 

C

Ensure the Proper Market Conduct to Enhance the Industry’s Credibility and Stability

Develop the regulating and verifying system on insurance stability, practical behavior and public interest protection in order to create public confidence in the insurance system.

  1. Develop a regulatory standard to be compliant with the international standard for the insurance business strength with good management.
  2. Develop and update the insurance law master plan appropriated to the economic condition and the encouraging and strengthening of the insurance industry with good management.
  3. Potential enhancing the consent of various developed insurance products consistent with the risks and needs of the public.
  4. Pushing on applying the International Finance Reporting Standards (IFRS).
  5. Improve the insurance under the Motor Vehicle Accident Victim Protection Act by focusing on the remedy amount ceiling, restructuring the compulsory car insurance market and the accident victim compensation fund management. Enhance the capacity in standardized mediation and dispute settlement, and efficient law enforcement.

    T

    Using the Advancement of Techniques and Information Technology to Increase
    the Public Knowledge in Utilizing Insurances to Manage Risk & Maintain Stability

    Technology and the database developing that leads to raising the level of insurance knowledge of the country and all sectors’ stakeholders.

     

    1. Develop the information technology applied to the OIC and enhance its role in knowledge dissemination for the public.
    2. Develop databases for internal operations, knowledge dissemination and services providing for the public