UK's Thatcham to deliver vehicle premium risk rating system in Asia
The two organisations have signed a two-year contract under which Thatcham will provide vehicle premium risk rating and alternative parts accreditation to the Thailand General Insurance Association, which is the Thai equivalent of the UK's Association of British Insurers (ABI).
The announcement follows Thatcham's establishment in 2007 of a Thailand base with the aim of developing closer contacts and improved links in the new and emerging markets in Asia.
Andrew Miller, director of research at Thatcham, said: 'This is a significant development for Thatcham as this contract will provide the opportunity to expand our Thailand base and thus our capabilities in the South East Asian region, and will allow us to further develop our research and knowledge base of the new Asian vehicle producers.'
Dennis Means, managing director of Thatcham Thailand, said: 'We are looking forward to working closely with the GIA in Thailand to deliver a transparent risk rating system for the benefit of both the insurer and the consumer, and in further strengthening the Thatcham brand in the Asia Pacific region.'