From the dedication and determination of the team along with support from insurance company partners, "TIDlLOR Insurance Broker" has transformed from being a newcomer in the insurance brokerage industry to becoming a rapidly growing and consistently evolving brokerage brand, eventually becoming one of the top brands in the market within a few years.
With a steadfast vision for sustainable growth, today "TIDLOR Insurance Broker" has decided to rebrand itself as "Shield Insurance". This rebranding effort goes beyond just a name change.
What features the brand will be changing we will take everyone to see the journey of rebranding and the thought process and beliefs behind it. It is essential to understand why "TIDLOR Insurance Broker" needs to rebrand as "Shield Insurance" and who the rebranding is for and why it is necessary.
WHY Rebranding
To create a distinct perception that we don't just sell motor insurance because many customers associate strongly with the term "ล้อ" (wheel), the rebranding to a more flexible name like "ประกันติดโล่" (Shield Insurance) allows us to better accommodate expansion into other insurance products in the future.
Additionally the new brand name "Shield Insurance" reflects a strong image (similar to a shield protecting against danger), providing comprehensive protection for customers and conveying excellent quality and service standards. Furthermore, the term "โล่" (‘shield’ in Thai) also carries the connotation of "โล่รางวัล" (‘award plaques’ in Thai).
The rebranding to "Shield Insurance" is akin to providing a promise that brand will safeguard and care for customers' rights, standing by them, and addressing their concerns as if they were our own through exceptional service standards. With dedication and enthusiasm to create a superior customer experience, from providing information to post-sales service, Shield Insurance is committed to going above and beyond what any brokerage has done before.
Reaffirming the intention and mission to move towards the same goal
Because Shield Insurance is another business line of "Ngern Tid Lor Public Company Limited", which had the intention of providing vehicle title loans to address financial difficulties for customers who couldn't access traditional financial institutions, along with financial education, it allowed us to recognize and understand the financial challenges faced by customers and society. During unforeseen circumstances affecting assets such as cars, homes, family members, or oneself, which led to the creation of an insurance brokerage business.
Athitaya Phoonwathu, Chief Insurance Officer at Ngern Tid Lor Public Company Limited, mentioned in a letter to shareholders in 2021,
“Beyond providing loans, we see the importance of insurance services, especially for customers of Ngern Tidlor, to help reduce the financial burden from potential risks to their main assets used for their livelihoods. Hence, we decided to start the insurance brokerage business.”
As the insurance brokerage business grew rapidly, emphasizing the intention and mission to serve customers in delivering insurance and services that extend beyond sales to encompass care, protection, and safeguarding the rights customers deserve from insurance became crucial.
The rebranding to "Shield Insurance" provides an opportunity to review both the intention and mission reflected through beliefs and actions for customers. This allows Shield Insurance to enhance various service aspects, become more comprehensive, and better meet customer needs than before.
What Shield Insurance believes: Insurance products are meant to provide people with a foundation of security and stability in life, alleviating risks, uncertainties, worries, and anxieties about unexpected risks that may occur every day, both for themselves and their families.
Most importantly, when purchasing insurance, peace of mind is something everyone should receive from the sale to the claim process.
What Shield Insurance does: We will create a new standard of insurance brokerage that stands out by delivering goodwill and care, starting from designing products and processes that are easy to understand, straightforward, and aligned with the risks/uncertainties in customers' lives.
We will stand by, protect, and safeguard the rights customers deserve with fairness, not allowing exploitation, and seeking solutions when customers encounter problems. Additionally, we will provide service with sincerity, offering assistance eagerly, as if it were our own urgent matter.
Rebranding to improve and going beyond existing capabilities
During the rebranding process, in addition to workshops that gathered various departments including front-end and back-end teams to brainstorm and identify what customers still lack in their insurance buying experience with brokers, the brand also explored what additional actions could be taken to fulfill those gaps for customers.
One crucial aspect emphasized by Shield Insurance is conducting close examinations of customer insights through focus groups and research to understand where customers feel concerned and uneasy when purchasing insurance through brokers.
The results of these examinations allow Shield Insurance to gain a deeper and clearer understanding of customers, enabling them to devise strategies and service offerings to address customer concerns more effectively.
This process leads to the establishment of new standards in the insurance brokerage industry, starting from product design and customer-centric processes, emphasizing transparency in contract terms to foster clarity, and expanding communication channels to assist customers more comprehensively through various Omni-Channels:
- At Ngern Tidlor branches, customers can have face-to-face discussions, inquire about details of insurance plan they are interested in, or report post-purchase issues. There are a total of 1,700 branches staffed by over 5,000 licensed insurance sales professionals who also serve as consultants, answering questions for customers.
- The Call Center 1501 is available to serve customers 24/7, providing consultations regarding products and expertise in insurance claims through the Claim Center team. They offer guidance to customers in case of road accidents and provide reassurance by sending SMS notifications about claim status and repairs.
- A chatbot on the Facebook Fanpage of Shield Insurance providing assistance and answering various customer questions.
- Customers can check policy details, coverage, premium payment deadlines, and even renew motor insurance through the Ngern Tidlor mobile application.
- The service of cash installment payment for insurance without interest, for up to 10 months, remains available.
- Recommendations for garages and car repair centers are provided through Go Go! Garage website or by inquiring at branches or the Call Center.
The rebranding from 'TIDLOR Insurance Broker' to 'Shield Insurance’ maintains the brand's essence, as our core values of 'good intentions' remain unchanged
This rebranding serves as a reaffirmation that 'Shield Insurance' will continue to fulfill its duty as a dependable 'shield' for customers and is committed to enhancing service quality to provide customers with peace of mind, as peace of mind is what customers deserve from purchasing insurance.
Point of View of Partners
“We have been working with Shield Insurance for about 3 years and have seen the potential for expansion in the business. We have observed the uniqueness that Shield Insurance has brought to the insurance industry, such as having diverse sales channels and unique insurance sales strategies, which have led to what I consider 'extraordinary' growth for Shield Insurance.
The most important strength of Shield Insurance is its effort to find solutions for customers, impressing both customers and even partners like ourselves.”
Somkrit Surachewakit, Thai Vivat Insurance Public Company Limited.
“Many aspects of Shield Insurance have impressed me greatly. What I like the most is their attentiveness to customer needs, prioritizing problem-solving for customers over sales. I am also impressed by the perspectives of the management, such as Athitaya, Teerawat, and Charnrit.
They not only focus on customer care but also extend their care to partners. For example, whenever our loss ratio starts to rise, they assist in implementing sales promotion programs. They are genuine partners who want to see us grow together.
Furthermore, in their work, there is a strong sense of teamwork and professionalism. I am confident that as long as Shield Insurance continues to prioritize customers and relentlessly strives to improve its services, Shield Insurance will grow even further beyond what it is now.”
Vichaiyut Laungsuwon, Viriyah Insurance Public Company Limited.
“I've had the opportunity to collaborate with Shield Insurance since they had just a hundred thousand baht in premiums, until they became one of the top insurance brokers. They are constantly developing, striving to make tomorrow better than today.
Their journey is full of colorful developments, all aimed at better serving customers than before. Many aspects, such as partnerships like ours, were unexpected, prompting us to never stand still but to continually evolve. For instance, when it comes to customer assistance, which is often seen as a cost center, if Shield Insurance sees it as necessary or if it can enhance customer experience, they won’t hesitate to act.
Moreover, Shield Insurance leverages data effectively to drive their business and also utilizes it to help partners like us improve our weaknesses. To us, Shield Insurance is a great ally. And if we walk alongside them, we are confident we can go even further.”
Jakkrit Chewanuntapornchai, Bangkok Insurance Public Company Limited.
Do you know what the Shield Insurance logo means?
The Shield Insurance logo is designed based on the concept of protection, coverage, and security, featuring a shield icon resembling a "shield” that ensures customers' safety and peace of mind when using their services.
The Golden Yellow Color represents enthusiasm in providing service.
The Si Blue Color signifies expertise, reliability, and trustworthiness.
When combined with the main logo, it conveys a sense of stability, safety, and becomes what you see as the Shield Insurance logo today!
