Comparative study on strategy of Thai insurers and foresighting for Thai insurance toward 2030

This research is to study a foresight framework and to propose a practicalforesight method for corporate-suite approach in this case; it is for insurancebusiness. These aims to determine a Thai insurers’ game plan to response to theunfulfilled market and its market dynamics of Thai insurance market. The proposedforesight framework is conceptualized and designed upon theories, research findingsand literatures. The foresight framework is validated by a comparison between thestrategy formalized base on the foresight result and the strategy of Thai insurerslisted in Stock Exchange of Thailand (SET) captured in a period of 2017 – 2020. Theresult of this research is found that there are 7 foresight scenarios driving Thaiinsurance business incoming to year of 2030 which are fearlessly to truly digitalexperience while caution is still, climate change, global warming & zero carbonemission, EV & its ecosystem, molecular wellness management, future of workplace,virtual world, and co-creation of innovation with partners. In comparison to currentThai insurers’ strategy and based-line future’s strategy, the base-line future’s strategyallows the organization into more product-driven approach, SMART strategic actions& milestones and purposefulness towards the based-line future.