Southeast in rebranding drive

       The Southeast business group, owned by liquor billionaire Charoen Sirivadhanabhakdi, is preparing to invest about 400 million baht over the next four years in rebranding, information technology infrastructure and product and distribution expansion.
       "Rebranding including new TV commercials, public relations and product and service development is expected to cost the group about 100 million baht in the first phase, which lasts about 12 months," said Chotiphat Bijananda, Mr Charoen's son-in-law and the chairman of the executive board of the Southeast Group.
       "We are ready to invest a similar amount in phases over the next three years after that if the first phase proves successful."
       The group includes Southeast Life Insurance, Southeast Insurance (2000)Co Ltd, and Southeast Capital Ltd.
       The Southeast Group yesterday introduced its new corporate identity and TV commercials, its first brand investment in the last 13 years, as it aims to position itself as the country's leading insurance and financial service provider as it prepares for the economic recovery.The TV commercials start airing today.
       The company also partnered with IBM Thailand to transform its IT systems to create a more dynamic infrastructure for better risk management and customer service enhancement. AIS also helped to develop new products and services,although details have not yet been disclosed.
       According to Mr Chotiphat, the group's rebranding and organisational restructuring should enable its two insurance firms to rank in the top nine by 2013.
       Southeast Life Insurance by 2013 is projected to see its written premiums for new business rise by 500%, with direct premiums of Southeast Insurance to increase by 140%.
       Southeast Capital, which deals mainly with leasing, hire-purchase and operating leases, expects to see its car leases rise by 280%.
       In 2008, according to the Office of the Insurance Commission, Southeast Life reported total premiums worth 1.72 billion baht, up 10% from a year earlier,but it registered first-year premiums worth 198 million baht, a rise of 49%from a year before.
       The group's general insurance firm produced 1.82 billion baht, up 11.32%from a year earlier.
       According to Mr Chotiphat, the life insurance business expects new premiums to grow 56.9% by the end of this year, with insurance firm production to grow by 11.51%.
       The number of car leases by Southeast Capital is projected to rise by 15.67% to 1,970 units.