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Muang Thai Insurance deploys Oracle cloud ERP towards organizations in the digital world

Thai insurer migrates legacy financial system to the cloud to automate finance processes, reduce costs, and mitigate risks.

Muang Thai Insurance (MTI), a leading provider of non-life insurance products and services, is now live on Oracle Fusion Cloud Enterprise Resource Planning (ERP), enabling the insurer to support its mission to delivering better customer experiences to its policyholders.

Hosting a wide variety of non-life insurance products and services, MTI wanted its back-office finance operations to adapt quickly to the increasing customer preference for on-demand services. Its legacy accounting-finance and procurement system lacked the flexibility to meet the ongoing regulatory requirement changes.

Besides, the budgeting and planning system was not readily avalable. After evaluating several solutions, MTI selected Oracle Cloud ERP for its  modern and scalable technology and ability to meet rigorous security standards and regulations.

Puntrika  Baingern, Director & SEVP & CFO, Muang Thai Insurance said Oracle Cloud ERP is expected to be a platform which can help our finance team to better manage budgeting control with real-time insights. We expect a lower total cost of ownership in the long run.

“We are embracing the cloud to get timely data-driven reports, drive decision-making and improve  operation efficiency,” said Puntrika.

Implemented by Oracle partner, iCE Consulting, Oracle Cloud ERP can help MTI to improve control of its finance and procurement processes and streamline the back-office operations of its non-life insurance products and services. MTI’s finance team can also gain a modern and scalable Cloud ERP solution that meets the highest security standards and is aligned with regulatory requirements.

Wallapa Piemnoppakao, country general manager and head of applications, Oracle Thailand said that  the insurance sector is continuously changing to meet the demands from both customers and regulators. With Oracle’s continuous innovation and quarterly updates, MTI can take advantage of the lastest emerging technologies and industry-leading security standards to gain a competitive edge and better meet the heightened needs of its customers.

Kanjana Limpunyalert, Managing Director of iCE Consulting said that from being an Oracle partner for more than 25 years and having experience in implementation across various industries including the insurance sector, the company is now specialists when it comes to Oracle Cloud ERP.

“We believe that Muang Thai Insurance will benefit from Oracle Cloud ERP and can grow in a sustainable way driven by digital technology,” said Kanjana.

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