Ms. Phonpimol Pathomsak, First Senior Vice President, KASIKORNBANK (KBank), said that spending via K-Credit Card as of the end of the first quarter of 2021 grew 21 percent YoY that expected to achieve the annual target of 320 billion Baht. The spending category underpinning growth during this period is insurance product with a 20% YOY increase in the number of credit card customers, with the average amount per bill falling more than 25 percent. This is in line with the prevailing trend of insurance products with smaller, more affordable premiums in line with the present economic circumstances. Moreover, Thai people are increasingly focusing on health planning and start managing risks in life by taking out various forms of insurance to reduce the burden of future risks such as annual increases in medical expenses, as well as dealing with diseases.
With this in mind, K-Credit Card has launched the “Pay Universal Type of Insurance Premium-Get Special KPoints” campaign in collaboration with 50 leading insurance companies, with the aim of easing financial burdens of customers in making installment payments, including new and existing premiums. Under this installment payment plan, customers will enjoy zero percent interest for up to 10 months and get up to 20,000 K Points. Those making full payment for all types of insurance premiums will get up to 35,000 K Points. Customers can use K-Credit Card to make full or installment payments for insurance premiums via their branches, agents, or via online system of the participating insurance companies. You can also choose to tie up your KBank credit card to pay premiums continuously throughout the policy life to reduce the risk of transmission and continuous coverage. However, before deciding to pay premiums, customers should choose insurance based on their ability to pay premiums. Preferred Coverage Challenges Compare existing policy conditions and coverage and conditions of new insurance compared to their requirements.
Privileges for K-Credit Card customers under the “Pay Universal Type of Insurance Premium-Get Special KPoints” campaign include:
- Customers choosing to make zero percent interest installment payment for insurance premium, for 6-10 months, can receive up to 20,000 K Points. Customers need to register via SMS prior to making the transaction: Simply type “IN2”, space, followed by the last 12 digits of your credit card number, and send the SMS to 4545888 (3 Baht charged per SMS) (for participating companies and insurance policies only). This offer is valid May 1-September 31, 2021.
- Customers choosing to make full payment for insurance premium are eligible for double benefits, May 1 August 31, 2021
- Benefit 1: Customers can receive up to 35,000 K Points. Customers need to register via SMS by typing “IS”, space, followed by the last 12 digits of your credit card, and sending it to 4545888 (3 Baht charged per SMS). For instance, “IS 123456789101”.
- Benefit 2: Customers can receive 12% cash back upon redemption of K Points for an amount equal to the payment of insurance premium. Customers need to send an SMS by typing “KIR”, space, followed by the last 12 digits of your credit card, space, the spending amount (with no decimal point), and sending it to 4545888 (3 Baht charged per SMS).
For further details and conditions, please call the K Contact Center at 02-888-8888.