Morning Briefing: Thai bank could offer opportunity for North American insurers

Thai bank could offer opportunity for North American insurers
A plan by Thailand’s third largest lender could create a new opportunity for North American insurers. Siam Commercial Bank is considering selling a stake in its SCB Life Assurance unit, which has an estimated value of at least $3 billion.

Bloomberg says that the bank could look to a foreign insurance company to take on the business unit in a deal which could include access to Siam’s network of branches.

The bank’s insurance business has previously included foreign shareholders including New York Life Insurance Co. It bought those shares back and now owns 100 per cent of the unit.

The market is seen as attractive to western insurers as wealth in the region grows, driving demand for insurance coverage.
 
Canadians wary of driverless cars
Canadians lack trust in driverless cars according to a new poll. Almost two-thirds (63 per cent) say they would not trust a vehicle they were in to drive itself. They also highlighted concerns including hacking, theft of data generated by the vehicle and accountability in the event of an accident.

A conference in Toronto will investigate issues surrounding driverless cars this week. Automated Vehicles: Planning the Next Disruptive Technology will include a panel discussing privacy concerns of driverless cars.

However, the Canadian Automobile Association survey found that 57 per cent expect technology to have advanced to the point where they do trust driverless cars within 10 years.

"Canadians clearly see the potential. We are just not there yet. Conferences like this one will help advance the dialogue around the pros and cons of this new technology," says Jeff Walker, Vice-President of Public Affairs for CAA National. "Wherever the debate leads, CAA will be there to make sure the views of the driving public are well represented."
 
American Family Insurance taps into the emotion of dreams
The hard sell is becoming rarer as brands seek instead to tap into emotions through story telling. American Family Insurance is embracing this new age of advertising with its latest commercial which features that most powerful marketing tool – kids. The spots and accompanying website uses 5 and 6 year olds taking about overcoming obstacles and achieving dreams.

The insurance message is subtly included in a narrative of a little girl dreaming of becoming an astronaut as the voiceover says: “Remember when we were children and we believed any dream was possible? Was it because there was always someone there protecting us?” before saying that American Family would like to be there protecting us.