Muang Thai Life Assurance Embraces the Future-Ready Organization with Technology-driven Business Strategy

Event Calendar Press Releases Monday November 5, 2018 16:04
Bangkok--5 Nov--Muang Thai Life Assurance

Muang Thai Life Assurance Public Company Limited (MTL), one of the regional life insurance leaders with financial and brand strength under corporate governance and risk management frameworks of international standard, today unveiled their initiative IT development supporting a vision towards the future organization with Oracle Enterprise Resource Planning (ERP) Cloud and Oracle Enterprise Performance Management (EPM) Cloud.

Mr. Sara Lamsam, President and Chief Executive Officer, Muang Thai Life Assurance PCL said, "The preparation for our future in a world of disruptive technology where changes happen rapidly is considered highly essential. Our company keeps pace with this constant revolution by adopting new technologies that are able to strengthen our operational efficiency while sustainably expanding our business growth. In addition, an early effort in preparation will allow us to assess the impact of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts which are set to be effective before long".

To keep up with the world of digitalization by investing on new innovations, Muang Thai Life has recently collaborated with Oracle, a leader in enterprise technology with leading-edge cloud solutions, to adopt Oracle ERP Cloud and Oracle EPM Cloud for their business optimization strategy. This revolutionary effort of Muang Thai Life helps create agility towards business platform resulting in better business performance.

"The "Customers @ the Heart" vision promotes our collaborative manner which ultimately fulfills the ever-changing customer's needs with understanding and superior innovation. It is necessary to improve our systems as our business needs to be modernized in accordance with customers' lifestyles that change constantly.

One of our significant strategies also includes the development of tools for production planning and financial management since our customer service system needs to run efficiently and securely. Plus, it is also important that we can optimize strategic cost management that delivers effective outcome. The organization's primary need is a solution that offers agility and flexibility which basically extends business's potential in this competitive business landscape and supports business growth regardless of any competition that are rising as well as the future challenges." Mr. Sara said

According to Gartner's Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises, 2018, Oracle (Oracle ERP Cloud) is named as a Leader.[1], based on criteria such as breadth and depth of its functionality, and embedded reporting and analytics.

Mr. Lars Faeste, Head of Applications at Oracle Thailand, said, "Oracle is honored to be a part of MTL's development by delivering Oracle Cloud Applications for ERP and EPM which enables end-to-end resource planning and financial management systems on a single cloud-based platform. By running their financial processes seamlessly in the cloud, MTL will have the flexibility to optimize business tasks, gain access and vision for overall data, and improved financial controls. Employees in any department can go through data and get updates with convenience anytime, anywhere which will speed up the decision-making process."

About Muang Thai Life Assurance

Muang Thai Life Assurance Public Company Limited is committed to run our business strategy to be the greatest life assurance service provider. We aim to fulfill our customers' needs with superior products and relevant services that fits perfectly with their lifestyles. Our Multi Distribution Channels Strategy has built a strong brand identity as happiness and smile. Our operational management team always works with integrity and remains ethical standards in insurance and financial services. As part of the social responsibility, we always put our effort to enhance the social quality to be better every day.

About Oracle

The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.


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