Pharika Thitiphak – GC Powerlist
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Thailand 2024

Insurance

Pharika Thitiphak

Director of legal and compliance | Rabbit Care

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Thailand 2024

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Pharika Thitiphak

Director of legal and compliance | Rabbit Care

What are the most significant cases or transactions that you have recently been involved in?

I successfully facilitated the sale and purchase of the business and assets of two non-life insurance broker companies, representing the transferee. Throughout the process, I meticulously ensured full compliance with all relevant laws and regulations, particularly the Personal Data Protection Act B.E. 2562 (2019) and Office of Insurance Commission regulations. 

I conducted a comprehensive due diligence exercise to ensure the validity and suitability of the transferred business and assets. This included verifying that both the transferor and the transferee obtained the requisite corporate approval to enter the transaction. I was meticulous in ensuring that there were no material adverse changes during the process. 

The transaction required extensive coordination from multiple teams, including the technology team, which prepared and implemented the IT system to transfer the business and assets successfully, and the marketing team, which effectively announced and communicated the completion of the transfer of the business to all customers and stakeholders. This collective effort was instrumental in the successful completion of the transaction. 

Since the transfer involved customer after-sale service, I ensured that the process provided the transferred customers with seamless and satisfactory services from the transferee. Moreover, I ensured that all outstanding obligations, such as delivering insurance premiums and policies and coordinating with related insurers for each customer’s insurance coverage, were correctly addressed and there were no issues or discrepancies. 

 

How do you see the general counsel role evolving in Thailand over the next five-ten years?
In today’s business world, legal counsel holds a crucial position on the boards and committees of many companies. Management heavily relies on legal opinions and concerns before making any important decisions. They understand the severe consequences of breaking the law, such as reputation damage, particularly in the digital age. It is customary for legal counsel to review and approve legally binding documents before management feels confident enough to sign them. Therefore, the role of legal counsel is expected to become even more significant in Thailand over the next five to ten years.

How do you motivate and manage your legal team well?

To motivate and manage my legal team effectively, there are three core points that I prioritise. First and foremost, open communication is essential. As a leader, I strive to create an environment where team members feel comfortable reaching out to me about any issue. Early and open dialogue is key to ensuring that we all share the same understanding and direction. Second, regular discussion is crucial. My team and I discuss our legal views regularly. Whenever there is any doubt or a need for additional legal opinion from others, we bring up the topic and discuss it. Each team member provides their thoughts during the discussion, and we often reach a conclusion or next step by exchanging our legal points of view. As a leader, I value the opinion of my team members and do not go against it, unless it is not in line with our goals. Third, being supportive is critical. I regularly ask my team members about their issues or concerns. If a team member raises a problem, needs my support, or wants to develop themselves, I try my best to support them. One example is career path and growth. I encourage my team members to take more responsibility and ownership of their tasks under my supervision, which helps them grow and develop their skills.

 

 

Pharika Thitiphak - Thailand 2023

Head of legal and compliance | Rabbit Care

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