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Annual Report 202343
Thai General Insurance Association Thai General Insurance Association
42 Annual Report 2023

(2) Corn Insurance Policy for the 2023 production year for the farmer group Phase 2: The Thai General Insurance Association developed an effective and nationwide damage assessment model. The
Department of Agricultural Extension and other government agencies responsible for registering farmers nationwide and surveying
The Thai General Insurance Association has issued the 2023 Corn Insurance Policy for the farmer group and the crop damage were invited to jointly develop a model that is accurate and can be implemented and the Department of Agricultural
insurance premium rates that provide coverage for damages caused by flooding or heavy rain, drought, or no rain, storms or Extension accepted the invitation to participate in this study. Therefore, a memorandum of understanding was created to help
typhoons, cold weather or frost, hail, fire, wild elephant attacks, pests or epidemics, totaling 3 policies as follows: farmers who are affected by disasters by using the science and technology system in the crop insurance system, in collaboration
1. Corn insurance policy, production year 2023, for corn planting loan customers of the Bank for Agriculture with the Department of Agricultural Extension and Thaicom Public Company Limited. The project is an application of scientific
and Agricultural Cooperatives (BAAC) and insurance premium rates and technology solutions for agricultural insurance, consisting of Earth Observation Satellite technology, big data, such as farmer
2. Corn insurance policy, production year 2023, for small-scale farmers (microinsurance) and insurance premium data, rice varieties, disaster areas, data analytics systems, artificial intelligence/machine learning, etc., and has organized a
rates ceremony to sign the Memorandum of Understanding on assistance for farmers affected by disasters by using satellite information
3. Additional corn insurance policy, production year 2023, for small-scale farmers (microinsurance) and in the agriculture insurance system on January 31, 2024, at the Ministry of Agriculture and Cooperatives, with Colonel Thammanat
insurance premium rates Prompao, Minister of Agriculture and Cooperatives chairing the ceremony. In the second phase of the operation, the area will
be expanded by an additional 10 provinces from the original 6 provinces, an area of 3 million rai, to 16 provinces, an area of 13
The form and content of the corn insurance policy, production year 2023, for the farmer group and the insurance premium rate million rai. The system will be improved to be more accurate and efficient by studying and improving the results of 2 parts of
have been approved by the Registrar of the Office of the Insurance Commission on March 13, 2023. the test, which consist of drought-dry spell disasters and flood disasters, including linking information to be consistent with
methods of helping farmers in case of damages according to the Kor Sor 02 form of the Agricultural Extension Department,
12.2 Underwriting performance Ministry of Agriculture and Cooperatives, so that the Agricultural Extension Department can use the aforementioned technology
to effectively manage the survey of agricultural damage at the national level, which is a development of technology that will meet
The rice insurance project for the 2023/24 production year cannot be implemented because it requires waiting for the new the needs of modern agriculture, helping promote potential of and drive Thailand’s economy sustainably with innovation.
cabinet. Therefore, the Thai General Insurance Association has coordinated with relevant agencies and reinsurance companies
to implement only the corn insurance project for the 2023/24 production year that has been approved by the cabinet since March 14. Meeting to share the methodology of implementing the plant insurance project of Thailand with the delegation
14, 2023. In collaboration with the Fiscal Policy Office (FPO), the Department of Agricultural Extension (DAA), the Bank for from Cambodia.
Agriculture and Agricultural Cooperatives (BAAC), and the Office of the Agricultural Economics Commission (AEEC) Insurance
and Promotion Office (OIC) implemented the corn insurance project for the 2023/24 production year with an insured area of The Thai General Insurance Association organized a meeting to share the implementation method of the crop insurance
1,036,716 rai, insurance premiums of 165,878,570 baht per household, 50,288 insured households, an area of 6,232 rai of project in Thailand (Crop Insurance Implementation Sharing Conference) with a delegation from Cambodia. Since Cambodia is
compensation paid, and compensation costs of 9,348,524 baht. (Including information of claims payment until February 8, 2024) studying and developing to upgrade the crop insurance project. Moreover, Cambodia has seen the success of the crop project
in Thailand and is interested in studying the implementation of the crop insurance project in Thailand. The meeting was held on
13. Project to develop guidelines for using science and technology in crop insurance November 29, 2023 at the Thai General Insurance Association, with participants from Cambodia, led by Dr. Yang Saing Koma,
Secretary of State of the Ministry of Agriculture, Forestry and Fisheries, Cambodia (MAFF), along with representatives from the
The Thai General Insurance Association has developed a crop insurance project by continuously using technology to drive Ministry of Agriculture, Forestry and Fisheries, the Ministry of Economy and Finance, the insurance company (Forte) and
the crop insurance project to meet the operational needs of all relevant sectors, including insured farmers, so that they receive representatives from national reinsurance companies of Cambodia Re, a total of 13 representatives. Moreover, representatives
correct and prompt care to sustain Thai crop insurance by using satellite technology, data analytics systems, and AI & Machine from relevant agencies involved in the implementation of the crop insurance project in Thailand were also invited to join the
Learning systems in crop insurance, in collaboration with Thaicom Public Company Limited, to analyze data and inspect damages meeting and exchange information, including the Fiscal Economics Office (FEO), the Office of Agricultural Economics (OAE),
to proceed with distributing compensation for the next crop insurance project. the Department of Agricultural Extension (DAA), the Bank for Agriculture and Agricultural Cooperatives (BAAC), the Office of the
Agricultural Regulatory Commission, and the Office of Insurance Commission (OIC), which jointly presented the model and
Phase 1: the Thai General Insurance Association signed a Memorandum of Understanding with Thaicom Public Company cooperation in implementing the crop insurance project.
Limited for the project to develop guidelines for the application of Scientific and Technology Solutions for Agricultural Insurance
in conducting damage inspection tests in the designated planting areas as innovation and information areas (Sandbox Areas) 15. The Thai General Insurance Association visited the prototype of groundwater management for agriculture in
according to the information received from the Department of Agricultural Extension, in 6 provinces. The areas of wet-season the Thung Kula Rong Hai area.
rice planting having the scope of electronic cultivation that can be carried out totals 3 million rai, with Thaicom Public Company
Limited and the association jointly paying the expenses. The evaluation of the results of the Thaicom Public Company Limited Dr. Somporn Suebthavilkul, President of the Thai General Insurance Association and Chairman of the Crop Insurance Fund
has 3 parts: Committee, along with the Fund Committee and executives of the Thai General Insurance Association, visited the results of
1. Check whether the area is planted with rice or not. The test results are 87% accurate. the agricultural water management project, which is a model for underground water management in arid areas outside
2. Whether there is a drought or a dry spell. The test results are 81% accurate. the irrigation zone to solve the problem of water shortages for agriculture, transforming the dry Kula Rong Hai field into
3. Whether there is a flood or not. The test results are 78% accurate. Kula Yim Dai field with sufficient and sustainable water for agriculture. They also visited the products from the off-season
The results of the study and analysis of the aforementioned information can be used as a guideline for further development, crop cultivation demonstration plot, to promote and support communities and farmers to have careers, income, and a better
expansion, and extension in the second phase. quality of life in line with the ESG approach, while also pushing theoretical operations into practice to create new agricultural
innovations that can apply knowledge to sustainable agriculture. Assistant Professor Suban Thumma, Assistant Rector of
Roi Et Campus welcomed the participants on March 22, 2024, at the Rajamangala University of Technology Isan (RMUTI),
Roi Et Campus, Kula Rong Hai field.