AIA THAILAND TO IMPROVE BACK OFFICE SYSTEMS

AIA Thailand, part of New York-based AIG, is preparing its biggest ever back-office investment project to cope with its increased business, according to Thomas White, AIA Thailand general manager. He noted that the life assurer was now selling between 60,000 and 70,000 policies a month, up from an average of 35,000 five years ago. Mr White said that AIA Thailand had already invested 700m baht in an administration technology system that could handle a more complete line of policies, while between 100m and 200m baht was being invested in a second AIA training centre, in Khon Kaen. There were plans to build two more, Mr White said. He anticipated a 10% growth in first-year premiums in 2006, from 8.4bn baht in 2005. However, first-year premiums from 2004 to 2005 fell by 10%. Total premiums are expected to grow by 10% from the 64.3bn baht recorded last year.