SABUY announced a new joint venture, SABUY Maxi with Howden Maxi
30 June 2023
to expand their insurance services nationwide. SABUY also set up a new company, SABUY Capital Plus, to enter to loan business to support company partners, suppliers and clients under the SABUY ecosystem
SABUY Technology Co., Plc (SABUY or SABUY Group) announced an ongoing affiliate deal with Howden Maxi Insurance Broker Company Limited (Howden Maxi). Howden Maxi is a joint venture company between Howden Group Holdings and Millennium Group Corporation (Asia), one of the leading automotive retail businesses in Thailand. The Howden Broking Group is the largest insurance broker in the world outside the United States of America. SABUY will be a strategic partner in the expanding Howden Maxi insurance services, which aim to provide insurance policies to retail customers, such as compulsory motor, auto, accident, travel, health, shipping, and other retail insurances utilizing selling channels of SABUY ecosystem together with Ship Smile Service own shops, franchise and kiosk shops with over 1,800 branches nationwide.
Mr. Wirach Morakotkarn, SABUY Chief Commercial and Investment Officer,aims to provide insurance brokerage services nationwide in cooperation with Howden Maxi. Through various channels under ecosystem of SABUY Group, he said “The strong potential of SABUY Group will allow us to reach out to target customers at all community levels across the nation under our ecosystem and specifically reaching target groups through Ship Smile Service stores where the SABUY Group has established joint ventures with Triple i Logistics Plc. since March 2021. Currently, Ship Smile Shops has a network of more than 1,800 branches and can conveniently access Howden Maxi services through the SABUY Group's retail management system (SABUY POS), allowing customers to easily purchase insurance and seek service from Howden Maxi through Ship Smile Shops".
Mr. Jittiwut Sasibutra, CEO of Howden Maxi Insurance Broker Co., Ltd. said“Howden Maxi insurance has increasingly gained more trust from customers, both retail and international organizations. The company vision is to become the leading international insurance broker and Top Five insurance broker in Thailand within the next 5 years. By joining with SABUY Group, we believe the company can easily reach out to new clients through the SABUY network coverage.”
The business collaboration between SABUY Technology and Howden Maxi under the joint venture agreement “SABUY Maxi” will greatly enhance the service potential of future customers, especially through Ship Smile Service stores. This will be an important channel for expanding Howden Maxi's new services and products, as well as increasing variety of in-store services offered to best meet customer’s needs.
With respect to the expansion of the lending business under SABUY Capital Plus, Mr. Wirach sees that it will benefit both business partners and customers under the ecosystem of SABUY Group. This will include accessing capital sources for business expansion or working capital, for which the target group will be from shop customers who have transactions via the Payment POS system, food court system or shops trading through the Market Place of SABUY Group. Moreover, it may also be extended to personal customers in the near future.