Thailand's demographic transition requires policymakers, healthcare providers and insurers to focus on the interconnected pillars of life span, health span and wealth span, says Mr Sara.
Medical inflation and inadequate retirement savings are reshaping how insurers design lifetime health protection as Thailand becomes a "super-aged" society, says Muang Thai Life Assurance (MTL).MTL chief executive Sara Lamsam said Thailand must ensure longer lives are matched by better health and stronger financial security if it is to "successfully navigate an ageing society".
He warned that rising medical inflation and insufficient retirement savings are emerging as two of the country's biggest long-term challenges.
"Thailand's demographic transition requires policymakers, healthcare providers and insurers to focus on three interconnected pillars, which are life span, health span and wealth span," said Mr Sara, noting that while life expectancy continues to rise, health span has not kept pace.
There is an average gap of around 10 years between the time people live and the years they remain healthy, with chronic illnesses and disability typically emerging during that final decade.
