Dhipaya Insurance Deep Dive

An insight into ShareRing’s new partner, Dhipaya Insurance, regarded as one of the top non-life insurance providers and partly owned by Thailand Government.

Dhipaya Insurance was founded in 1951 and is regarded as one of the top insurance companies with over 30 branches across Thailand. Dhipaya’s headquarters are located in Bangkok and currently employ over 1,300 people.

Insurance Products

Dhipaya Insurance Public Co. Ltd. is engaged in the non-life insurance business. The company provides the following insurance policies:

Dhipaya’s Digital Vision

Dhipaya’s core vision is to become the top insurance company in Thailand; they recognize that in order to achieve this you need to be able to quickly adapt to technological advancements.

They showed their ability to adapt to these advancements when they announced plans to transform itself into a fully digital insurer by the end of 2018.

Somporn Suebthawilkul, managing director of Dhipaya Insurance Public Company Limited, said:

We want not to be disrupted, but we want to be the disruptor. We are playing a role as a sandbox for insurance tech startups.

Somporn Suebthawilkul, Dhipaya Insurance Managing Director

Dhipaya was extremely fascinated by ShareRings blockchain technology, ShareLedger. After some demonstrations by Tim, Dhipaya were very excited to integrate our technology to streamline their insurance services. This is a true testimony to the revolutionary benefits ShareLedger provides to businesses of any size. Dhipaya’s President had these words to say about our new partnership:

In this cooperation between Dhipaya and ShareRing, Dhipaya work with companies that are reputed to be building ECO systems for tourism worldwide.

ShareRing have expanded their business to Thailand and have collaborated with eVOA. This will be a big cooperation to make ECO systems for tourism in Thailand.

Dhipaya have had the luck and honour to become a part of this cooperation. This is a partnership between the world’s leading companies involved in digital platforms around tourism. For Dhipaya, we will reach a wide range of tourists, especially the inbound tourists in Thailand. This application uses blockchain technology, allowing us to manage claims, manage coordination with hospitals in case of accident, rental cars and everything about accidents.

To be in accordance with Thailand’s new law, ShareRings eVOA service will require mandatory insurance. As such, both eVOA and the accompanying insurance can be purchased on the ShareRing app.

Here's a great video from our @TIPinsure and @ShareRingGlobal signing ceremony on Wednesday. The potential for our partnership with Dhipaya insurance is huge! https://t.co/WTk6IasUvr

— Timothy Bos (@TheRealTimBos) December 20, 2019

eVOA and Insurance TX Appraisal

eVOA applications will generate 4 TX on the ShareRing blockchain; eVOA’s mandatory insurance adds 2 transactions to this number.

About ShareRing

ShareRing is a total solution, servicing consumers and businesses alike. ShareRing connects the highly fragmented sharing economy by bringing together sharing services across all industries and geographies. Using ShareRing’s decentralized marketplace, users can securely access, connect, and pay for services anywhere in the world. Rental providers receive payments instantly, without any currency conversion fees, and with incredibly low transaction fees.