First Thai CEO sets goal of thought-leader for Cigna Thailand

"I feel extremely honored to be entrusted by the head office with the role of chief executive officer for Cigna Thailand," said the newly-appointed CEO.
"I see this as an achievement for every single employee here who has been putting their utmost effort into their work, to strengthen our businesses and to achieve our corporate goals, for the continuous growth of the organization so that Cigna can become a thought-leader in health and well-being, for the sustainable well-being of Thais".
"And it confirms a long term commitment with Cigna Corporation in Thai market," he added.
Before Teeravuth took on the CEO role at Cigna Thailand, he was its Chief Marketing Officer.
Preceding his roles at Cigna, he had successfully managed well-known organizations in top-level management for over 10 years.
Cigna Thailand is a subsidiary of Cigna, the US-based global health service company, servicing over 95 million customers worldwide.
He added that under his stewardship, Cigna will continue building on its achievements. The company will focus on using new insights from a recent study on Thai customers in developing its business strategies.
He added that the company would remain customer-centric by continuously understanding the behavior and needs of consumers, including various factors that impact the health of people in Thailand.
Cigna Thailand will also take advantage of technology in the digital age, so that both Thai and foreigners can access its insurance plans more conveniently and quickly via online distribution channels.
The company will also offer innovative products and services that are accessible and responsive to customer needs individually, he added.
"In my perspective, understanding of Thailand’s cultural nuances is a key. That insights coupled with a decade-long record of successful business management in the insurance industry can break new ground for the company,"
"For example, the development of various marketing and insurance plans, coming from an in-depth understanding of Thais, as a base to formulate customized insurance plans that best suit the lifestyle of all Thais for their health and wellbeing. This reinforces our position as a leader in the health insurance market, reinforcing the brand’s mission to improve health well-being and peace of mind of those we serve".

Teeravuth said that Cigna Thailand's strength also lies in teamwork.
"Our strengths are derived from both our core values and our people that focus on building the best-in-class of customer experience and innovation".
"I have always admired the innovation and expertise of Cigna across the world and, of course, our Thai team. I can help contribute to the company’s continued success and leadership in changing the world".
While competition in the Thai insurance market is intensifying, the most challenging task is dealing with our customers' heath problems, he said.
"Our mission is to improve the health, well-being and peace of mind of those we serve; accordingly, Cigna always design and develop new innovative products and services to meet with our valued customers’ needs and expectations,"
"Being customer-focused is a true power and the only way to be more pioneering in the eyes of our customers".
Teeravuth is very confident that both the health insurance and policy-holder markets in Thailand will continually to post double-digit growth. 
One contributive factor is the increased awareness of the need for health solutions, resulting in a growing demand for wellness services that is echoed in Thailand and leading to increased demand in health insurance.
The Office of National Economic and Social Development Board of Thailand (NESDB) shows that nearly one-third of the country's population will be over 60 years old by 2031. This means that Thailand is shifting into a full-fledged ageing society, he added.
"Lastly, our Cigna 360 Well-being Score Survey revealed a perception among Thais that they performed ‘poorly’ in financial and family aspects of their lives. Meaning that Thais need more financial security".
Although the economy is slowing down, growth rate of the health business is encouraging.
"That's probably because Thai people are increasingly interested in good health for themselves and their loved ones".
As Thailand has entered the digital era, one of Cigna’s most important strength is in adapting to the rapidly changing social situation, he said.
"Nowadays, people compete in work, usually forgetting to care for their own health and those they love. The results of Cigna’s 360 Well-Being Survey in 2019 indicated that 84 per cent of the world’s population suffered from stress and that stress in the workplace was affecting 87 per cent of employees". 
Overall, the survey found that Thais are better at coping with stress than people from other countries, but the stress epidemic is still prevalent in Thailand, especially among office workers.
Accordingly, amid the current digital disruption, Cigna Thailand has been developing new innovative technology while also devising a health care programmed which is short, easy, and effective to improve Thai people's health towards a full circle of well-being, he said.
When asked if there is much different between a Thai CEO and a expatriate CEO in managing the insurance business in Thailand, he said: "I think it’s not that much difference between having Thai CEO and expat CEO, as we both have the same mission and both will work hard to improve Thai people health well-being by using the innovative technology and effective health care services,".
"However, as the first Thai CEO, what I can bring to make some differences to the organization is my experience in developing various marketing and insurance plans that come from in-depth understanding of Thais, as a base to formulate customized insurance plans that best suit the lifestyle of all Thais".
Talking about his management style, he said he has a coaching and democratic style of management, which encourages team members to build a strategic direction and involves employees in decision making.
"With this, I can adjust my management style to fit with the team or people I manage".
"As a CEO, you will face countless challenges every day. Being supportive and giving meaningful advice to my team are things that I usually do to ensure everything is smoothly executed and correspond to our business direction and goal".
Talking about his leisure, he said, "What I usually do for leisure is to spend time in a tennis court, playing golf with my friends and business partners and running. Also, spend quality time with my family such as travelling abroad".