ERGO Insurance Adjusts 2025 Strategy With Sustainability Focus, Balances Portfolio and Profitability Amid Economic Volatility; Targets Top 3 Travel Insurance Position Within Three Years

ERGO Insurance is implementing a business stability strategy amid global economic risks, prioritizing profitability and balanced portfolio management rather than aggressive growth. In partnership with Zurich Cover-More, the company is launching "ERGO Travel Guard" travel insurance and aims to rank in the top 3 travel insurance providers within three years, while expanding supplementary health insurance for SMEs.

Adisak Thetaratworngse, President and CEO of ERGO Insurance (Thailand) Public Company Limited, a subsidiary of ERGO Group and Munich Re, revealed the company's business direction for 2025. Rather than pursuing rapid expansion, the company will prioritize building "sustainability" through balanced portfolio management, maintaining profitability levels, and controlling financial ratios and organizational stability. This approach reflects external uncertainties, particularly global economic conditions, international conflicts, and varying impacts across business segments that have increased costs, transaction volumes, and asset values subject to high volatility.

"Some may think wars have little impact, but certain business groups face clear consequences in both costs and transaction volumes," Adisak stated, adding that the company must work closely with customers and partners to ensure insurance products address changing risks effectively.

Regarding health insurance, the company currently has no plans to enter the OPD or comprehensive health insurance market in the short term due to medical inflation risks and various uncertainties.

On financial targets, the company will prioritize maintaining profit levels and stability over growth acceleration, despite recent impacts from natural disasters such as flooding and earthquakes that increased claims.

As part of its growth strategy, ERGO recently announced a significant partnership with Zurich Cover-More, a leading travel assistance service provider within Zurich Insurance Group, to launch "ERGO Travel Guard" international travel insurance. The product covers accidents and health issues, including delayed or cancelled flights, starting at 186 baht. Key features include worldwide hospital admissions without advance payment and coverage for travelers aged 0-80.

"Currently, Thai travel insurance penetration rates remain low compared to international standards, despite travel carrying multifaceted risks from unfamiliar locations, language, food, and changing weather. This collaboration isn't just a product launch but delivers world-class protection standards designed specifically for Thai travelers to create worry-free travel experiences at all destinations."

ERGO Travel Guard consolidates traveler risks into 29 coverage categories across four main groups:

1. Life and Health: Covers inpatient and outpatient medical treatment without advance payment upon admission, including emergency evacuation. 2. Travel Inconvenience: Covers flight delays, denied boarding (overbooking), trip cancellations, and new coverage for pet care costs if owners return to Thailand late due to unforeseen circumstances. 3. Assets: Protects against damage or loss of luggage, passport, cash, and related items.