Growth is also being supported by digital distribution, product innovation and underwriting discipline, despite pressure from rising vehicle prices, weaker purchasing power and weather-related losses.
Premiums will be shared with participating manufacturers and importers, with cover applied automatically to eligible EVs and claims handled on a “pay first, settle later” basis.
EV adoption, premium rate increases, and technology-enabled underwriting are expected to support expansion in the segment through the second half of the decade.
The partnership will develop comprehensive extended warranty insurance products for Chinese EV brands sold in Thailand as manufacturers seek more reliable after-sales and risk-transfer mechanisms.
Losses in electric vehicle insurance also eased in 2025 as insurers adapted to higher claims costs with better pricing and claims controls, the ratings agency said.
The three-tier insurance scheme uses real-time driving data to reward safer behavior, with coverage expanding from personal accident protection to family benefits.
