24 Feb 2022
Rabbit Care shakes up the insurance brokerage industry, becoming the leading marketplace for insurance and financial products with over 70 partners and targeting more than THB 3 billion insurance premium in 2022
Rabbit Care, a subsidiary business of Rabbit Group under VGI shared its business strategy for 2022, moving ahead as Thailand’s leading marketplace for insurance and financial products. The company aims to create continuous value by operating through CareOS that analyzes customers’ needs and status, matching them with products from over 70 leading partners and making it easier to compare deals. Rabbit Care has also launched a campaign aimed at customers facing economic challenges brought on by the pandemic, by providing savings of up to 70% and an installment plan offering 0% interest for up to 10 months. The “Complete Care” 24 hours a day, 7 days a week after-sales service also meets the needs of our customers across six product categories, including motor insurance, health insurance, life insurance, other insurance types, corporate insurance, and financial products. Through these strategies, Rabbit Care aims to become the number one insurance brokerage in Thailand and has set a target of more than THB 3 billion insurance premium in 2022.
Mr. Michael M. Steibl, Co-Founder & Chief Executive Officer of Rabbit Care Company Limited, commented, “Our company is an online marketplace enabling customers to conveniently compare and buy insurance and financial products. Customers can discover products that perfectly match their personal needs and save research time. Product discovery and comparison are always supported by more than 300 knowledgeable care agents via phone or chat 24/7. We align our core values by operating with CARE in everything we do. We offer comprehensive solutions. We move with Agility. We take responsibility and we make experiences feel Effortless. Rabbit Care is dedicated to offer the best price with the best value.”
“Our company successfully rebranded “Rabbit Finance” to “Rabbit Care” on 6 October 2021 with the vision of becoming your first choice
for transparent insurance and financial advice. Our new logo illustrates our focus on caring. A heart-shaped logo mark was derived from
the ears of our rabbit mascot to represent our enthusiasm as a good listener and the heartfelt care we put into all our services. Our new brand tagline, “Complete Care” reflects our belief in holistic caring solutions, while we have a calmer and trustworthy shade of “Caring Blue” in our corporate identity. We have also introduced our mascot “Nong Care”. As the Care Manager, he ensures that all services are always done
“Also in 2021, despite the challenges of Covid-19, Rabbit Care was able to more than double its insurance premium distributed to more than THB 1.9 billion. The company also welcomed new shareholders through its Series B investment round, among them Samsung Ventures and Korea Investment Partners, and integrated Asia Direct Broker, a leading motor insurance broker into its ecosystem.”
“Markets are set to recover from Covid-19 both globally and in Thailand, and the ratio of insurance premium to GDP remains only modest compared to other APAC markets. This positive market outlook combined with the ongoing trend of purchasing goods and services online provides massive growth opportunities. For Rabbit Care, we project to achieve more than THB 3 billion insurance premium in 2022.”
“Rabbit Care’s strategy is to adapt to customer needs by developing services that target all customer groups throughout the nation. CareOS offers the best insurance deals and compares insurance plans and financial products in 30 seconds from our partners. This allows customers to find the right solutions that fulfill their needs in a nick of time.”
“We will further expand our motor insurance category by reaching broader audiences and join the growing trend of health-consciousness
by offering a wide range of affordable health insurance products. As the pandemic powered explosive growth of e-commerce transactions, we plan to launch an e-commerce platform for insurance products with instant coverage within this year,” Mr. Steibl concluded
Mr. Johannes Von Rohr, Co-Founder & Chief Operating Officer of Rabbit Care Company Limited, commented, “We are the fastest growing insurance broker platform in Thailand. Our insurance premium grew from about THB 700 million in 2020 to THB 1.9 billion in 2021 – a 166% year on year increase. Moreover, we expanded our team from 300 to over 700 people.”
“In motor insurance, we experienced a 212% year on year increase, both organically and through the acquisition of Asia Direct broker
from whom we integrated 150 well-trained agents and a seasoned management team. In health insurance, we grew 261% year on year.
Incorporate insurance, we experienced a 63% year on year growth.”
“We have also built brand awareness by launching a 360-degree communications campaign, covering both offline and online channels.
The campaign idea is simple: Every family has someone who takes the lead in insurance and financial matters for the whole family. We define this person as the Chief Family Officer or CFO. We support these unsung
“CFOs” by providing “Complete Care” solutions for them. The campaign launches Wednesday 9 February 2022, across TV, OOH,
Radio and online.”
“We understand the challenges customers face during the pandemic and want to make insurance and financial products more accessible. Hence, Rabbit Care has offered promotions, including savings of up to 70% and a “Buy-Now-Pay-Later” installment plan of 0%
interest for up to 10 months,” Mr. Von Rohr concluded.
Mr. Chayapat Sakulrompochai, Chief Commercial Officer of Rabbit Care Company Limited, commented, “Rabbit Care has joined hands with over 70 leading partners. We and our partners have the common goal of offering the best products at affordable prices, which meet every possible need, for consumers’ greatest benefit. This reinforces our approach of “Complete Care” that not only acts as a slogan, but also reflects our commitment to our customers through various services such as our Care Center and CareOS that allows customers to easily search and compare deals with convenience, speed, and efficiency. This system is a key factor in reducing complexities, and making Rabbit Care a platform customers can use with ease.”
“Beyond this, our customers can also receive privileges through our after-sales services via our omnichannel platforms 24/7 to bring customers maximum value.”
• Care Center 1438: Customers can conveniently access services 24 hours 7 days a week.
• Care Emergency: Emergency services for motor insurance customers, including assistance and coordination in emergencies, roadside assistance, etc.
• Health Caresultant: Telemedicine service for health insurance customers to access video call consultations with licensed doctors from Chiiwii with no additional fees.
“With these comprehensive products and services, Rabbit Care is confident in taking on the role as a caring advisor for all insurance and financial needs. We aim to turn complexity into simplicity, ensuring that the whole process delivers optimal value and benefits to customers from pre-purchase advice to aftersales service,” added Mr. Sakulrompochai.
For additional information, contact Rabbit Care at 1438 (24 hours), visit our website at https://rabbitcare.com/ or follow news and activities at www.facebook.com/RabbitCareTH.