The APAC Insurtech market could be characterized by significant growth and increased adoption of technology in 2023. The global Insurtech market, to which APAC is a significant contributor, was projected to grow from $10.53 billion in 2022 to $14.37 billion in 2023. 

The Philippines, a bustling country in Southeast Asia, is not only known for its rich culture and stunning landscapes but also for its dynamic insurance industry. While the insurance market in the Philippines has been steadily growing over the years, it still has relatively low insurance penetration compared to other developed nations.  

Thailand, a country renowned for its vibrant tourism industry, rich cultural heritage, and emerging markets, has faced numerous economic challenges in recent years. As we set our sights on the third quarter of the year 2023, it is vital to address the lingering obstacles that may hinder Thailand's economic growth and development.