Ms. Suporn Raopitiwongkul Senior Vice President, Finance and Account
so many payment gateways that we can apply and approach our customers.” Suporn Raopitiwongkul
MSIG is the leading insurer of non-life market in Thailand which has almost 60 companies or 60 players in this industry. MSIG's market share is approximately almost 2% and ranks 18th in current ranking. In terms of their expertise, the MSIG is great at marine products, motor insurance products and also travel insurance products. Regarding insurance business, the most important thing at the moment
is digital and online platforms which customers can buy products via digital channels and expect to do the premium settlement with rapidity, punctuality and stability. “I've never seen any customer complaint because of the system is pretty stable and the lead time that we deal with the correction all the settlement is very quick just only second or very quick to finish everything in one hit. And I think it’s serve need for the new generation as well not just the traditional retail business but also on the social media or mobile applications or those wallet approaches. So 2c2p cover all of those payment channel” Ms. Suporn said.
In addition, 2C2P also offers “Quick pay” service for merchants to create links allowing customers to make transactions conveniently and quickly. For this solution, MSIG is able to apply and approach their customers. “We can send them the link and then they can put information and settlement to us quite quick. I would say that customer satisfy with 2c2p and the payment gateway.” Ms. Suporn said with admiration.
“2c2p support our backbone function because the online selling is the frontend system but 2c2p is a tool or system that support finance and accounting function to match customer expectations when they buy policy, settle premium they have everything in one hit and the transaction is the only one click completely.” Ms. Suporn said about the importance of payment gateway system and impression about ability to manage system to support emergency situations of 2C2P that “We have experience about the BCP situation when it comes to the server down other commercial bank they might not be able to manage this situation because they just have only one payment gateway when the system down it’s down totally but for 2c2p when the server down or payment gateway cannot work very well, the system can switch to another connection and that helped us in terms of day to day operation to run smoothly”
At the end of the interview, Ms. Suporn also spoke about how to expand the business of MSIG by using 2C2P service to enable installment plan for customers to increase the financial leverage. “For the future with 2c2p as our business partner for cash management function. I would say that I want to drive the settlement through credit card. Credit card at the moment the number of users they are more and more each day. And normally our product premium, some of them have significant amount for customers. If we allow the customer to pay on installment pattern, that would support our business a lot."