AIA BUILDING SECOND TRAINING CENTRE IN THAILAND

American International Assurance, a subsidiary of New York-based insurer AIG, is building its second training centre in Thailand, in Khon Kaen, as it bids to expands its presence upcountry. AIA deputy chief agency officer Jamie Rains said from his Hong Kong base that the new training centre would be able to accommodate up to 600 people. He noted that the geographical spread of AIA’s business in Thailand had shifted in recent years. While between 60% and 70% used to come from Bangkok and nearby provinces, now about 70% of sales come from upcountry. AIA gets more than 90% of its business in Thailand through its agent-based distribution network. Mr Rains said that “AIA is totally committed to applying the principles of agency fundamentals. That means that every agent who comes to work with AIA will be trained in needs-based sales”. Meanwhile, AIA Thailand executive vice-president Thomas White reported that AIA Thailand had premiums totalling 17.85bn baht in the first quarter of its fiscal year starting December 2005, with new policy sales rising by 23% to 169,857.