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Insurer and intermediary perceptions on the response of Thai local non‐life insurance companies to deregulation

Oran Vongsuraphichet (Asian Institute of Technology, Kluangluang, Thailand)
Lalit Johri (Said Business School, University of Oxford, Oxford, UK)

Journal of Advances in Management Research

ISSN: 0972-7981

Article publication date: 1 November 2011




The purpose of this paper is to examine insurers’ and intermediaries’ perceptions of the response to Thailand's non‐life insurance industry to deregulation.


This research paper is based on existing literature and consultation with industry experts, resulting in the development of a 13‐variable questionnaire on perceptions of the local non‐life insurance industry's response to deregulation. A convenience sampling technique was used for the survey respondents, who comprised two groups (insurers and intermediaries), involved in the non‐life insurance industry in Thailand. Factor analysis was applied to the 246 responses to provide some exploratory analysis of underlying factors that account for the patterns among the variables.


The results of the factor analysis derived four factors that explain the perceptions of insurers and intermediaries to the response of local non‐life insurance industry to deregulation. The four factors include survival, alliance, local knowledge, and mergers and acquisitions (M&A). Furthermore, the findings indicate that whereas insurers perceived that survival would be the highest priority for local insurers, it was considered to be a secondary priority by the intermediaries. The latter group perceived that alliances and local knowledge were the most significant priorities for local insurance companies after deregulation.

Research limitations/implications

The data gathered for the study are limited to the perceptions of two respondent groups from one industry. Moreover, this paper did not consider the views of policy makers or the variables that relate to or are caused by deregulation factors. Therefore, future research may extend these findings to other industries, countries, and respondents to provide a more general application.

Practical implications

The research findings offer managerial implications for both insurers and intermediaries and also implications for researchers on refocusing their efforts in managing non‐life insurance companies. Local insurers should improve and generate factors such as financial strength, accurate pricing, innovative sale methods, an understanding of the local culture, and alliances with other industries.


The paper presents an original insight into an important element of insurers’ and intermediaries’ perspectives on response of local insurance companies after deregulation to the Thai non‐life insurance industry.



Vongsuraphichet, O. and Johri, L. (2011), "Insurer and intermediary perceptions on the response of Thai local non‐life insurance companies to deregulation", Journal of Advances in Management Research, Vol. 8 No. 2, pp. 178-194.



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Copyright © 2011, Emerald Group Publishing Limited

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